Metaverse Talk Heats Up Interest in Multiple Cryptocurrencies By

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. As the two dogs duke it out, Coinbase (NASDAQ:) Global, Inc. (NASDAQ-NMS: COIN) already now supports Shiba Inu, and Hello Pal International Inc. (CSE: HP (NYSE:)) (OTC: HLLPF) has primary exposure to mining DOGE. Meanwhile popular theater chain AMC Entertainment (NYSE:) Holdings, Inc. (NYSE:AMC) is officially already accepting DOGE and is considering accepting SHIB as well.

Despite having the same breed of dog as their respective avatars, DOGE and SHIB are quite different. DOGE is a coin, not a token, meaning it has its own chain that enable it to be mined. Whereas SHIB is a token, existing on the (ETH) blockchain. One of the biggest differences between the two is supply, where SHIB has one quadrillion in supply, whereas DOGE has a current supply of ~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.

“Dogecoin, often referred to as ‘the people’s coin’, is being rapidly accepted and adopted internationally,”
says Hello Pal Founder and Chief Executive Officer, KL Wong.

“We remain committed to our crypto mining strategy and the implementation of cryptocurrency within our social platform, so this upgrade will help us achieve this goal.”
The company sold 4,500 of its existing Antminer L3+ mining rigs for a consideration of USDT 2.1 million (approximately CAD$2.67 million). Using those proceeds, Hello Pal purchased 100 units of Antminer L7 mining rigs, which are the latest Litecoin/Dogecoin mining rigs to be released by Bitmain. L7 mining rigs have a hashrate of 9500 MH/s, which is 19x more than that of the existing L3+ and is one of the most profitable mining rig in the world currently on the market.

Apart from the increased mining power, these miners require less maintenance, making them easier to house in mining facilities due to the reduced space it will require compared to the electricity fees received by the mining facilities. These advantages also mean that Hello Pal will have a lot more flexibility in terms of where its mining rigs can be housed.

Once mined, trading platforms such as Robinhood Markets , Inc. (NASDAQ: HOOD) and Coinbase Global , Inc. (NASDAQ-NMS: COIN) will give new investors and users access to new supplies.

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