- Popular meme cryptocurrencies and one of the most notable metaverse coins this year have experienced massive integration.
- America’s largest exchange Coinbase has announced the merchant payment function for 2 meme coins and 1 metaverse coin: Dogecoin (DOGE), Shiba Inu (SHIB) and ApeCoin (APE).
- There is another catalyst that investors should now consider as they expect the increased availability of these tokens. However, it is not yet clear to what extent the adoption will take place on the seller’s side.
Today, ApeCoin (APE), a metaverse coin released by Tuga Labs, creator of meme tokens Dogecoin (DOGE), Shiba Inu (SHIB), and Bored Ape non-fungible token (NFT), is the most talked about digital currency among crypto investors. became assets. Besides the usual discussion about volatility, there was another catalyst investors were watching today in these meme coins, usability.
Koinfinans.com As we previously reported, Coinbase, one of the largest cryptocurrency exchanges, recently announced that the platform has added support for seven new crypto assets. This list also included trending cryptocurrencies such as Dogecoin, Shiba Inu, and ApeCoin. This announcement builds on Coinbase’s previous work to make instant and free payments for users and merchants/sellers.
These tokens can now be used to facilitate payments to vendors for services and products. After regular requests from users, Coinbase bowed to the meme community and opened its doors with various animal-inspired token holders behind it.
Let’s see what this news means for investors and whether these tokens will be interesting bets on the news.
What does this development mean for Dogecoin, Shiba Inu and ApeCoin?
For meme token investors, one of the biggest bear cases that is hard to ignore is the lack of real-world use for these coins. On closer inspection, these tokens have a strong and vibrant community, there are some applications being built on them, and there’s definitely some hype to watch out for. However, from a payments perspective, there is still a lot missing in the meme token world.
However, the Coinbase integration can be seen as a step forward in this regard. While the support of Coinbase is pretty great news for investors of all these trending coins, it is unknown to what extent these dog- and monkey-inspired tokens will be used and accepted by sellers. For now, this is an interesting development to watch.
Not from the tokens you know
More and more companies, from luxury accessory retailers to airlines and grocery chains, continue to adopt SHIB as a means of payment. Fans of the token, which proudly calls themselves the Shib army, are now used to this type of news, but despite this, it is rather unusual to see ApeCoin (APE) as a payment method.
Yuga Labs, creators of the legendary NFT collection Bored Ape Yacht Club (BAYC), the only time cryptocurrency was used to pay for anything in real life was when only hamburgers could be bought at a themed cafe. Other than that, the use of APE seemed to be limited to the BAYC ecosystem with the various NFT branches and the “Otherside” Metaverse. However, as can be seen from the inclusion of the token in the Coinbase Commerce framework, APE has scored a plus on usability and if it gets attention, perhaps this is just the beginning and the metaverse coin could become one of the sought-after tokens in payment methods like Shiba.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.