The company behind the popular meme stock GameStop (GME) will start accepting Cryptocurrencies for payment in its US locations.
GameStop to now Accept Crypto
This new development was announced by the cryptocurrency payment processor, Flexa on its Twitter page, and it added that it’d support payments in popular meme coins such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Enter. the. metaverse.@GameStop is now live on Flexa. 🎮
— Flexa (@FlexaHQ) December 16, 2021
With this new development, the video games retailer will start using Flexa’s SPEDN app to accept Cryptocurrencies.
Flexa has provided payment support for various cryptocurrencies in the US over the last few months. It recently enabled movie operator Regal Cinemas to accept crypto payments across over 500 US locations.
DOGE and SHIB Price Rallies in the Last 24 Hours
With SHIB and DOGE dropping in value for weeks now, this new announcement might be the potential catalyst they need to return to their previous heights or get close at least.
Both meme coins have lost a significant portion of their gains in the year in the past 30 days as they dropped in value along with Bitcoin. According to CoinMarketCap, Shiba Inu has lost more than 30% of its value over the past 30 days, while Dogecoin has also lost over 25%.
However, both coins have seen a rise in their prices in the past 24 hours, with DOGE increasing by 2.5% while SHIB had a more significant 8.59%. Even though this might not necessarily be because of the GameStop announcement, it’s a good sign for the meme coin as they struggle to get out of the red zone.