Dubai Hotel Adopts SHIB Coin for Payment Despite Its Diminishing Value

Dubai Hotel Adopts SHIB Coin for Payment Despite Its Diminishing Value

Quick Take

  • Shiba Inu becomes prominent for bill settlement in Dubai luxury hotel
  • Fans rate the meme coin low and “worthless”

The iconic W Dubai – Palm Hotel in Dubai now accepts the Shiba Inu (SHIB), an Ethereum altcoin, for the settlement of various forms of payments. This information was made public by, a leading cryptocurrency portal for hotel and lodging reservations, via its Twitter account, assuring tourists of their ability to view the distinctive features of the seaside, the horizon, and the Arabian Gulf. The five-star hotel is now in the same league as other sizable crypto-paying enterprises located within the Dubai metropolis, such as the Palazzo Versace Dubai and the US-owned food cafeteria, Subway.

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A Gloomy Reception

Shiba Inu fans do not view the announcement as being particularly exciting on their end due to the meme coin’s dwindling value. With a declining capacity of about 90.15% from what the price was ($0.00008845) as of late October, utilizing such a coin for payment settlement, in essence, offers the owners very little or nothing in terms of purchasing power, and some investors have referred to the SHIB token as “worthless”.

More Calls for the Endorsement of Cryptos

However, as more businesses test-run cryptocurrencies, seek to experiment with them, or put frameworks in place for their potential use, the euphoria surrounding their adoption is growing proportionately. Emirates, one of the top international airlines in the UAE, announced in May that it would integrate Bitcoin (BTC) into its payment systems.