Shiba Inu (SHIB) is now getting recognition as a Dubai real estate company has opted to use it for property purchases. This is quite a step forward for cryptocurrencies and begs the question of how it might change real estate and finance moving forward. While SHIB's market performance has its ups and downs, seeing it gain traction in such a traditional sector is worth acknowledging.
Implications for Banking Systems
The fact that a real estate firm is accepting Shiba Inu could have some interesting effects on traditional banking systems. For one thing, crypto transactions are a lot quicker than the usual banking methods. I mean, buying property with SHIB could be done in minutes, not days or weeks. It puts some pressure on banks to speed it up, right?
Then there's the whole new revenue streams thing. La Rosa Holdings plans to charge a 2% fee for agents taking crypto payments. It's a new business route and maybe banks could look at it too, or at least come up with something similar.
Of course, with anything new, there are going to be regulatory and security hurdles. Banks are going to have to adjust to this stuff, which is complicated thanks to how decentralized everything is. But it's also a kick in the rear for innovation. Even big banks like JP Morgan are looking at blockchain and digital asset units to catch up.
There's also the potential of tokenizing assets. Everyone’s probably heard this before, but cryptocurrencies allow for physical assets like real estate to be tokenized, which is a way to fractionalize ownership. If that catches on, banks will need to keep up and probably offer services related to these tokenized assets.
Then there’s DeFi, which is changing the lending and borrowing game. Traditional banks are going to have to rethink their risk models because why would anyone wait around for a bank loan when they could just go to a DeFi platform?
Finally, consumer demand plays a big role. If more people and businesses are using cryptocurrencies, then it’s a matter of time before banks have to adapt to this hybrid world of finance.
SHIB's Market Status
As for the actual numbers, even with the news breaking, the meme coin fell by 5.84% in the last 24 hours, trading at $0.00002061 at the time of this being written. The total market cap is $12.14 billion. SHIB’s trading volume in the past 24 hours is up by 20.31% at $478.26 million, but it seems to be against the buyers, not the sellers, putting more downward pressure on the price.
The charts show that the market was bullish for a good part of the year until December 15, but that's mainly because of this current bearish trend. The downtrend is showing lower highs and lower lows, but the bearish momentum has slowed down and now we have a consolidation phase.
For this phase, the price is moving sideways between the support level of $0.00002050 and a resistance level of $0.00002250. This means there is indecision in the market, and neither the buyers nor the sellers are strong enough to take the lead.
Just above the support level, we have another key level at $0.00002068, which has been tested multiple times. In contrast, recent attempts to go past the $0.00002250 resistance haven’t worked. This shows that selling pressure is still there and the market seems to be waiting for something to push it forward.
The Awesome Oscillator, which indicates a coin’s momentum, is in a negative range, showing that the bears are still in control. But the histogram bars are getting smaller, suggesting that the bearish pressure might be fading, and maybe we’ll see a positive change soon.
There are two potential outcomes here. If the price breaks down below the support at $0.00002050, that would show the bears still have the upper hand and the next support could be around $0.00001800. On the flip side, if it bounces back above $0.00002250, that would show a shift in sentiment.
The Future of SHIB in Real Estate
The use of cryptocurrencies in real estate is pushing traditional banking systems to innovate, improve efficiency, and adapt to new regulatory and technological landscapes. This integration is likely to lead to a more dynamic and inclusive financial system where traditional and decentralized models coexist.
Long-term, cryptocurrencies might serve as stable financial tools in hyperinflationary economies, though they have their challenges. Cryptos like Bitcoin and stablecoins have been used in countries facing hyperinflation, acting as a more stable store of value compared to local fiat currency.
Sure, cryptocurrencies can stabilize economies, providing an alternative to traditional currencies. But they also have the potential to increase prices if not managed carefully. The competition they create could stop non-benevolent governments from implementing high inflation rates.
Honestly, it’s all a bit of a mixed bag. Shiba Inu is making strides in the real estate game, but its future remains uncertain.
