A cryptocurrency payments processor, FCF Pay, has expanded its support for tokens within the Shiba Inu ($SHIB) ecosystem and is considering adding a $SHIB burning mechanism, all at a time in which it listed rival meme-inspired cryptocurrency $BABYDOGE.<\/p>\n
In a tweet, the cryptocurrency payments provider powered by French Connection Finance noted it expanded its support for SHIB ecosystem tokens after adding $BONE and $LEASH to its list of available payments options along with Shiba Inu\u2019s native token.<\/p>\n
The move means businesses can now accept payments via the cryptocurrency payments gateway in any of the tokens within the Shiba Inu ecosystem. Replying to a user\u2019s tweet on burning SHIB tokens, a popular mechanism the cryptocurrency\u2019s community uses to reduce its circulating supply, FCF Pay noted it was weighing the possibility of entering a burning program for merchants referred by the community.<\/p>\n
As CryptoGlobe reported, the Shiba Inu community has been rallying to burn more tokens amid the recent cryptocurrency market downturn, as it\u2019s seen as a \u201chuge opportunity\u201d to reduce the meme-inspired cryptocurrency\u2019s circulating supply.<\/p>\n
As the community rallied, over 320 million SHIB were\u00a0burned\u00a0in a single day according to Shiba Inu burn tracker Shibburn. The figure represents a 300% increase when compared to the day before, and was boosted by a single transaction burning around 150 million tokens.<\/p>\n
ShibaSwap\u2019s official burn portal, which was launched in April in a bid to further SHIB burns and distributes rewards for those who burn tokens, has seen 57.5 billion tokens get destroyed. The portal\u00a0helped Shiba Inu\u2019s burn rate explode.<\/p>\n
While FCF Pay drew attention by mulling a SHIB token burning mechanism, which would see it join other projects including NOWPayments, it also drew attention on social media for adding support for rival meme-inspired cryptocurrency Baby Doge.<\/p>\n
Baby Doge is a cryptocurrency created \u201cby fans of the Doge Coin online community\u201d that \u201cseeks to impress his father by showing his new improved transaction speeds & adorableness.\u201d It has donated over $400,000 to dog rescue organizations earlier this year thanks to the success of its non-fungible token collection.<\/p>\n