Shiba Inu caught traders' attention again with a fresh catalyst linking growing payment options and an uptick in derivatives activity. The meme coin’s recent buzz is tied to Emirates enabling Crypto.com Pay for certain UAE flights, allowing SHIB holders to use their tokens indirectly for bookings.
Shiba Inu’s expanding payment reach
The Shiba Inu team shared on X that SHIB became usable through Crypto.com Pay following Emirates’ rollout of this payment method for eligible UAE flight reservations. While Emirates doesn’t accept SHIB directly, Crypto.com Pay integration means users can now spend SHIB for real-world travel purchases. This development nudges SHIB further from its meme coin roots toward practical utility.
The project’s tweet invited the community to test this new possibility, creating buzz around the token potentially taking flight quite literally. Despite this, SHIB’s price held steady around $0.00000463, down slightly by 0.22% in the past day, indicating cautious market response to the news.
Signs from the derivatives market
Data from CoinGlass reveals a notable jump in open interest, leaping from about $30 million to over $60 million before calming near $43 million. This surge in futures contracts suggests that traders are positioning for further gains fueled by increased market involvement. Trading volumes rose alongside, signaling fresh capital flowing into SHIB and reflecting bullish sentiment among speculators.
Technical indicators back this outlook as well. Shiba Inu reclaimed its 20-day EMA near $0.00000450 and slightly surpassed the 50-day EMA around $0.00000460. On-Balance Volume climbed meaningfully, highlighting stronger buying pressure since the recent price rebound. However, resistance looms at the 100-day EMA, approximately $0.00000501, which traders will watch closely to gauge the next move.
This content is for informational purposes and does not constitute financial advice.
