One of the hottest cryptocurrencies this year has been Shiba Inu (CRYPTO: SHIB). Year to date it has risen by 130%, and the meme coin looks to be alive and well with retail investors. But with such impressive gains already in 2024, is it too late buy the digital currency? Or is the coin just getting started, and could greater interest in the broader crypto market lead to further momentum for Shiba Inu?

One of the reasons Shiba Inu has grown in prominence with crypto investors is that there has simply been more acceptance of the cryptocurrency. Meme or not, more places are accepting it, and that's a positive development for Shiba Inu holders because it may lead to greater demand for the coin.

According to data from Cryptwerk, there are 935 merchants in the online crypto directory's database that accept Shiba Inu as a form of payment. That's 16% more than the 806 merchants who accepted it a year ago, and a 46% increase from two years ago.

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Source Fool.com