GameStop Adopts Shiba Inu and Dogecoin

The famed king of meme stocks, Gamestop (GME), and the popular meme coins, Shiba and Doge, finally collide as the company starts accepting these cryptocurrencies in its stores.

This update recently came to us all through the cryptocurrency payment processor, Flexa, who announced that GameStop will now accept popular pupcoins such as Shiba Inu and Dogecoin. Other than these two, Bitcoin, Litecoin, Ethereum, Axie Infinity Shards ($AXS), Decentraland ($MANA), and Smooth Love Potion ($SLP) were also adopted.

Flexa’s SPEDN app has provided a method of transfers and payment for many cryptocurrencies before, and now the above listed cryptocurrencies can be used as a means of payment through the app at all GameStop stores in the United States. Earlier this year, it empowered the movie operator Regal Cinemas and convenience store chain Sheetz in a similar manner of accepting cryptos for transactions as well.

About GameStop

American retail gaming giant GameStop became the forerunner of a new era of retail stock trading quite a while ago; its a stock that almost no one saw coming, no one except the members of Reddit’s r/WallStreetBets, that is. The members of this subreddit managed to rise GME’s value exponentially by voicing their opinions on this social media platform.

At the time, the value of this stock rose from about $17 to nearly $480, with a plethora of people wanted to jump on what was now seen as a hidden gem in the market. As for the argument of whether GME was truly an erstwhile underrated stock, this matter is still up in the air. Many institutional investors believe that the company’s actual value is, in fact, much lower than it’s current trading value.

To prove its worth to both the skeptics and its followers simultaneously, Gamestop has endeavored to make a strong turnaround post its rise in stock prices. And finally, this month, GME has started catering to the crypto investors market with the now available option to make payments in these digital coins.

Sneh Dokania is an Economics major student with an inquisitive disposition seeking to articulate facts, information and news stories in a candid manner on Clout News.

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