Videos on Twitter revealed a SHIB advertisement near Times Square, which prompted Binance to declare that it would add the SHIB/DOGE pair. Since then, the value of the token has increased by double digits.
Shiba Inu, the cryptocurrency with a dog motif, has seen its value rise in the last 24 hours. A statement of a Binance listing, as well as tweets of what seemed to be advertising in New York City, were two of the factors that contributed to the situation.
It says on a massive digital display in Times Square, which has gone global thanks to viral tweets: “We shall reach the moon shortly.” Just a twenty-minute drive from Times Square, there’s a cartoon Shiba Inu dog dressed in a suit and tie, imitating Wall Streeters of yesteryear, right next to that crypto slogan.
A spokesman for Silvercast Media, an advertising business that owns the signboard, said that the advertisement was a hoax. “This is not a real billboard; it is a depiction of one on our signboard,” the firm responded through Twitter on Monday afternoon.
At the same time, all dog-themed currencies, including Dogecoin, Floki Inu, and Shiba Inu, have experienced a weird run of good fortune, which seems to be continuing. After being promoted on Crypto Twitter for the first time yesterday, the 9th-largest cryptocurrency has gained 17.3 percent in value since the ad first appeared.
Shib (pronounced “shib”) is an Ethereum-based coin that was developed by an anonymous developer who goes by the moniker of Ryoshi.
In recent months, it has attracted considerable attention within the cryptocurrency sector, in no small part owing to the indirect participation of Vitalik Buterin, Ethereum’s co-founder, who has shown interest in participating.
SHIB, a cryptocurrency that has recently flipped both Dogecoin as well as the USDC stablecoin, broke into the top 10 of the world’s biggest cryptocurrencies last week. According to CoinGecko, the asset is trading at $0.00007320 (at the time of writing), which is 15% behind the coin’s all-time high reached last week of $0.00007320.
A rumor began to surface that electric vehicle maker Tesla may be considering introducing SHIB as a payment method.
Which is exactly what Sawyer Merritt, a very well-known Twitter personality with more than 85K followers, made reference to in one of his most recent tweets.
Merritt explicitly pointed out that the source code for the Tesla website displays a Shiba Inu mentioned in the “inspect element” section during the checkout process.
In response to Sawyer’s tweet, a web developer using the handle Hendra.eth said that the code certainly states that SHIB would be a payment method for Tesla and that the coding is correct.
“I’m a developer, and from what I can tell, it seems that $SHIB will be included in the payment service when you select ‘Crypto’ during the checkout process,” Hendra.eth commented in response to the question.
In a statement, he acknowledged that the data in question is already available on Tesla’s website, calling it a “very intriguing breach.”