In a significant development, CoinGate, a Lithuania-based fintech company, has boosted the utility of Shiba Inu (SHIB) by integrating it with Polygon and Binance Smart Chain (BSC). This move enables SHIB holders to purchase products from prominent brands like Nike and make reservations with services like Airbnb, expanding SHIB's real-world transaction opportunities.

CoinGate, a payment services provider, aims to bridge the gap between crypto and traditional finance, making crypto asset transactions for goods and services more accessible. By including SHIB tokens on these platforms, CoinGate offers SHIB holders numerous chances to engage in everyday transactions. The CoinGate team encourages SHIB holders to utilize their tokens for various transactions, from making Airbnb reservations to buying games from Steam and PS5.

Shiba Inu is not only enhancing its transactional use but also striving to grow beyond its memecoin origins. The launch of Shibarium, an Ethereum Layer-2 scaling solution, marks a significant step forward in enhancing blockchain efficiency. This update, completed earlier this month, includes a major hard fork expected to lead to faster transactions and more stable transaction fees, improving the overall user experience.

In April, the Shiba Inu team raised $12 million to develop a new Layer-3 blockchain network, receiving significant contributions from major investors like Polygon Ventures, Mechanism Capital, and Animoca Brands. Despite these developments, SHIB's price remains in a consolidation phase, trading between $0.00002379 and $0.00002227 since May 7. A breakout could push the price to $0.00002558, indicating a 13% increase, while selling pressure could drop the price to about $0.00002080, approximately 8% below the current level.