USA News Group – Shortly after Facebook (NASDAQ:) changed its corporate name to Meta Platforms, Inc. (NEO: FACE), cryptocurrency investors saw the rebranding as a sign of growing acceptance of the metaverse trend. This coincided with a rising interest in altcoins and meme coins such as (DOGE) and its dog-faced competitor (SHIB) saw sharp rallies, causing Robinhood (NASDAQ:) Markets, Inc. (NASDAQ: HOOD) to field questions about when they’ll add more of these coins to its trading platform. Coinbase (NASDAQ) Global, Inc. [NASDAQ-NMS] COIN] already supports Shiba Inu, while Hello Pal International Inc. CSE: HP (NYSE):) (OTC : HLLPF) is the primary source of DOGE mining. AMC Entertainment (NYSE.) Holdings, Inc., (NYSE.AMC) has officially accepted DOGE, and may accept SHIB.

Although they have the same dog breed as their avatars, DOGE is different from SHIB. DOGE, a cryptocurrency, is not a token. It has its own blockchain that allows it to mine. SHIB on the (ETH), blockchain is a token. The biggest difference between them is their supply. SHIB currently has 1 quadrillion of supply while DOGE currently has 132 billion.

Busy creating new DOGE coins, is Hello Pal International Inc. (CSE: HP) (OTC: HLLPF), which in October announced they’re in the process of upgrading their Litecoin/Dogecoin mining rigs to the latest Antminer L7 Model.

The “Dogecoin”, also known as the “people’s currency”, is rapidly being accepted by international organizations.
KL Wong is the founder and chief executive officer of Hello Pal, KL Wong.

“We are committed to our cryptocurrency mining strategy and implementation of crypto within our social platform. So this upgrade will aid us reach this goal.”
For USDT 2.1million (approximately CAD$2.67million), the company sold 4,500 Antminer L3+ miner rigs. Hello Pal acquired 100 Antminer L7 mining rigs with the funds. They are the most recent Litecoin/Dogecoin-mining rigs released by Bitmain. The L7 mining equipment has a hash rate of 9500MH/s which is 19x higher than the L3+. It is also one of the most lucrative mining rigs currently available.

These miners are also more efficient in terms of their mining power and require less maintenance. It is easier for them to be housed at mining facilities because they will not require as much space than the electricity charges. Hello Pal will also have more freedom in the location of its mining rigs.

Trading platforms, such as Robinhood Markets , Inc. Coinbase Global NASDAQ-NMS:COIN) will provide new investors with access to supplies.

A social media campaign asking “When #shiba?” targeted Robinhood specifically.

Our customers are looking for new coins
Vlad Tenev, CEO of Robinhood, paused on an investor conference call.

“[But]”We are currently evaluating the safety of adding new coins and the compliance with regulations.”
The trading platform offers DOGE and (BTC), ETH free of charge through a partnership with Burger King.

Cryptography can be fun. But it is also very technical. It’s something we are always trying to prioritize.
Yahoo Finance was informed by Christine Brown (Robinhood Crypto COO),

Coinbase Global, Inc., (COIN) users were unable to trade their cryptocurrency holdings after the exchange providers shut down.

Coinbase took too long to resolve the issue, and the Shiba Inu’s price was already falling by the time it was fixed. Users weren’t impressed. Coinbase users are now able to trade SHIB online. This is in contrast with Robinhood users.

Although it was not without its difficulties, Shiba Iu reached $40 billion in market capitalization, surpassing Dogecoin.

Already accepting Dogecoin, popular “meme stock” AMC Entertainment Holdings, Inc. (NYSE:AMC) has floated the idea of also accepting SHIBA as well.

“As you all know, AMC gift card can now be bought using cryptocurrency. And our IT group is working on code that will allow us to take online payments in bitcoin and other cryptocurrencies, such as litecoin, ethereum and dogecoin.
Adam Aron, CEO of AMC, wrote the article.

“Shouldn’t we try to also take shiba iu?”
When the question was said, almost 90% of respondents favored the acceptance by the theater chain.

Aron made the following announcement in October earlier:

AMC Theatres now accepts online crypto payments. You can purchase digital gift cards from AMC Theatres (up to $200/day) with Dogecoin, or other cryptocurrency via a Bitpay Wallet. They are accepted on our website, in theatres, and via mobile apps.
Still feeling the impact of Facebook’s announcement that it would be renaming itself Meta Platforms, Inc. (NASDAQ.FB) – The crypto market continues to feel the consequences of this change. So far, many early adopters of the virtual worlds in the Metaverse aren’t impressed.

“They’re essentially trying build what many of you have been building over the years and rebrand it to be their own.
Ryan Kappel, an American citizen who hosts meet-ups throughout different metaverses over the past two years, said Ryan Kappel.

“I think Facebook did this name change early to legally secure the new trademark as soon as it became available,”
Pranksy, a crypto-investor based in the UK, said that he purchased virtual world property for the first time around 2020.

The announcement by Meta caused another currency, Decentraland, to rise quickly, hitting $4.16 Saturday according to CoinMarketCap data. This was 400% higher than where it traded shortly after Facebook changed its name to Meta.

“[It]”Unites our app and technology under one company brand.”
Mark Zuckerberg, Meta CEO, made the announcement about the name change.

Meta’s goal is to make the metaverse come to life, connect people and find new communities.

FinancialNewsMedia provides the following information.

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