Shiba Inu Token (SHIBUSD)

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KRONOS ADVANCED TECHNOLOGIES BECAME THE FIRST PUBLIC COMPANY TO ADD SHIBA INU AS AN ADDITIONAL CRYPTO PAYMENT OPTION FOR PURCHASING AIR PURIFIERS AND PPE SUPPLIES.

November 01, 2021 10:50 ET
| Source: Kronos Advanced Technologies Inc.

https://www.globenewswire.com/news-release/2021/11/01/2324609/0/en/KRONOS-ADVANCED-TECHNOLOGIES-BECAME-THE-FIRST-PUBLIC-COMPANY-TO-ADD-SHIBA-INU-AS-AN-ADDITIONAL-CRYPTO-PAYMENT-OPTION-FOR-PURCHASING-AIR-PURIFIERS-AND-PPE-SUPPLIES.html



Parkersburg, WV, Nov. 01, 2021 (GLOBE NEWSWIRE) -- KRONOS ADVANCED TECHNOLOGIES, INC., (OTC MARKETS: KNOS) ("KNOS" or the "Company"), a revenue-generating, product development and production company that has significantly changed the way air is moved, filtered and sterilized announced today it will begin accepting payment in the SHIBA INU (COIN: SHIB).

Like Bitcoin, Ethereum, Litecoin, the Dogecoin inspired Shiba Inu coin is a popular cryptocurrency that people use to buy, spend and trade as a community-driven token, the functionality of which includes a decentralized exchange (ShibaSwap), a platform for working with NFTs, as well as a profitable tool for passive income, according to NOWPayments.

As reported by CNN, Shiba Inu coin price hit a new record revealing it to be the most astronomically increasing commodity in history and up an additional 30% in a 24 hour period just on the hopes that a Robinhood petition to add it to their cryptocurrency list of buyable coins would increase popularity. It pared back some of its gains since hitting its all-time high last week but then continued to move to reach the dizzying heights of the 9th largest digital currency by market capitalization yesterday.

The token, which was launched last year, has surged more than 100% during the previous seven days and now has a market value of about $39 billion, surpassing Dogecoin with more than twice the trading volume.

Like Dogecoin, the Shiba Inu coin features the Shiba Inu dog as its mascot. Its meteoric rise has made some investors millionaires overnight. The coin has also won a handful of celebrity backers, from former boy band stars to pro athletes.

Earlier this year, Ethereum co-founder Vitalik Buterin made headlines by donating $1 billion worth of SHIB to a Covid-19 relief fund in India.

Its dramatic rise last week coincides with rising support for a Change.org petition urging trading platform Robinhood to list SHIB on its site. The petition has garnered 334,500 signatures so far. This year, dogecoin's record rise put so much pressure on the platform's crypto trading systems that it was briefly broken. Robinhood said last week that cryptocurrencies accounted for nearly 20% of its transaction-based revenues in the third quarter, or about $51 million. That's an 860% increase from the same period last year.

During SHIB's rise last week, it temporarily lost some gains after Tesla CEO Elon Musk — who is a big fan of Dogecoin — tweeted that he does not own SHIB. In a follow-up tweet, he added that he has bought "Bitcoin, Ethereum & Dogecoin. That's it." Musk's tweets have frequently moved crypto markets.

Other popular virtual currencies have also seen explosive growth. Bitcoin, the world's most valuable cryptocurrency, hit an all-time high of nearly $67,000 per coin last week, topping the previous record set in April.

As Dogecoin has grown to a fully-fledged coin accepted by many merchants, including Kronos and Kronos' management believes that Shiba Inu, which also has one of the lowest transaction fees, is also a bonus that is great for our customers utilizing their $SBIB.

"In the last ten years, much has been said about how cryptocurrency will revolutionize payments, services, businesses and will change the world the way we know it.

Cryptocurrency has changed e-commerce: as more and more people now shop online. Cryptocurrency gives customers more reasons to utilize the convenience of online shopping, as it mitigates the risk of fraud for both vendors and shoppers." – commented Michael Rubinov, Kronos President. "Kronos became the first publicly-traded Company to accept Dogecoin. Dogecoin community was extremely supportive and purchased many Kronos products. We hope the Shiba Inu community will also support our efforts to promote and purchase our unique air purifiers," added Michael.

The Shiba Inu community, on the popular website, Reddit has grown into 650,000 members. Kronos intends to market N95 masks and air purifiers to this large community.

"Our goal is to provide superior air purifiers and other products and to provide our customers with new and progressive payment options that work to their advantage." Michael continued, explaining that by adding Dogecoin to their other accepted cryptocurrency payment options, Kronos joins a rapidly growing list of merchants that are adapting to fit the needs of modern consumers and becomes the first online Air purifiers seller accepting Dogecoins and now the first public Company to accept Shiba Inu.

Tweet @shibainucoin to encourage them to let their follows learn of the KNOS/SHIB news today.

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