In an announcement on 16th November 2021, Zengo stated it now allows users to trade and hold the top meme token, Shiba Inu (SHIB).

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Reacting to the new listing, head of communications at ZenGo, Ari Gore, praised the Shiba Inu community for its vibrancy and enthusiasm.

“We’re excited to be one of the first crypto wallets to support SHIB, especially because of its vibrant, creative, and enthusiastic community.”

Why Zengo Is Good For Shiba Inu’s Holders

For novice users, it might be intimidating to deal with passwords, seed phrases, and private keys, but Zengo has lessened the stress. Its wallets can be generated using facial biometrics, which is the main selling point of the app.

Read Also: Shiba Inu Tokens Burned by Ethereum’s Vitalik Buterin Five Months Ago Would Now be worth $27.8 Billion

According to the founder of the app, the approach would make it easier for crypto users to simply store their assets.

The Israeli startup raised $20 million during its Series A funding round in April 2021. Samsung Next, the tech giant’s venture capital fund, was among ZenGo’s most notable backers.

Shiba Inu (SHIB) in the Market

The crypto market experienced a huge retracement a couple of hours ago, resulting in the loss of crucial support levels for top cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).

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This negative trend also affected the price of the hottest meme token, Shiba Inu (SHIB), losing the $0.000050 support level in the process. At the time of filing this report, SHIB is trading at $0.00004869, with a relatively 9% price downtrend in the last 24 hours, according to CoinMarketCap.

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The post Shiba Inu (SHIB) Is Now Live On ZenGo, a Samsung-Backed Crypto Wallet App appeared first on Times Tabloid.