The Shiba Inu cryptocurrency has extended its horizons into the fashion industry thanks to a partnership with John Richmond designer wear.
The Italian-based designer clothing brand, whose headquarters is in Italy, will stage fashion shows in Milan, the fashion capital.
Future runway walks will showcase SHIB and John Richmond-themed outfits in a cutting-edge fashion collaboration.
Some 10,000 John Richmond and Shiba Inu NFTs will be issued soon as part of the partnership.
Shiba Inu and John Richmond unveiled their awaited cooperation on the last day of Italy’s fashion week.
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Furthermore, the opening day of the renowned Paris Fashion Week was held last Tuesday, implying that SHIB is eager to be a part of the fashion world and would prepare ahead of the famous business.
Shiba Inu, a significant stakeholder in the blockchain-enabled ecosystem, plans to debut a fashion line based on NFTs later this year.
Shiba Inu Analysis, Market Expectations
Shiba Inu is likely to benefit from such an announcement, despite its current price of $0.000026, a market value of around $15.20 billion, and a daily volume of $797.62 million.
Following all of these favorable headlines, the world’s second-largest meme-cryptocurrency has grown by about 18% in the last two days.
SHIB market cap at $14.11 billion in the daily chart | Source: TradingView.com
Most cryptocurrency experts feel that SHIB will continue to rise in the long term since there is still optimism that it will pique the attention of more investors.
For March 2022, the average rate is $0.0000284, with a minimum of $0.0000149. The coin’s maximum trading value is expected to reach about $0.0000429 by the end of the month.
Shiba Inu Supported by AMC Theaters via BitPay
On March 19, AMC’s chief executive officer Adam Aron, announced on Twitter that his firm would introduce support for BitPay-powered online payments to its mobile app and website.
This means that Shiba Inu, the second-biggest meme coin, will soon be accepted by the world’s largest movie theater chain.
BitPay will be available for AMC online payments on its website by March 19 and the mobile app by April 16.
Shiba Inu Smart Contracts Up 600%
According to statistics, the use of the Shiba Inu smart contracts from ‘whale-tier addresses’ on the Ethereum network has surged by at least 600%, implying that huge addresses are more actively interacting with the cryptocurrency.
It’s also unclear whether it is carried out by a single contract or by a group of contracts.
Compared to yesterday’s trading session, additional metrics such as volume and Net flow reflect negative data.
Meanwhile, whale volume fell by about 100%, while net flow remained negative at $16 million.
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Featured image from MetaCrunch, chart from TradingView.com