- SHIB is on the verge of another uphill run as bulls set their gaze on $0.001 in the coming months as new updates and use cases are expected on the mainnet.
- Massive token burns, the Shiba Inu metaverse, and partnership with Alpha Mobile among others remain key in SHIB’s resurgence.
- Despite the delayed launch of Shibarium, developers maintain that the layer 2 network will hit the platform, opening up new possibilities for users.
Meme coins are gaining traction once more amidst an imminent market rebound, leaving users leaning towards Shiba Inu (SHIB) and Elon Musk-backed Dogecoin (DOGE).
Shiba Inu, the popular dog-themed cryptocurrency, hit the markets in Aug 2020, gaining massive popularity in 2021 and hitting an all-time high. Currently ranked the 15th largest digital asset by market capitalization, the meme coin plunged 50% in value in 2022 but has bounced back by 19% this year with the broader market.
In recent days, bulls’ appetite has begun to ignite following positive indicators for a massive run. At the center of these are the ongoing burn schemes, Shibarium, and new updates on the network.
Mammoth SHIB Burns
The SHIB community pushed in favour of burning tokens, and so far, 410,637,982,069,024 SHIB has been burned. In the past 24 hours, over 12 million tokens have been burned across two transactions, with a massive burn rate of 60%.
In the last seven days, 1,748,403,277 SHIB have been burned across 20 transactions, to the community’s delight. The burn scheme has yielded results so far, as the price of SHIB has held steady.
Shibarium is still a game changer
In 2021, Ryoshi, the anonymous founder of Shiba Inu, unveiled plans for Shibarium, sparking off interest from within and outside the community. The project is a layer 2 blockchain built on Ethereum, transforming Shiba Inu into a comprehensive ecosystem.
After the launch of Shibarium, the ecosystem will include decentralized exchanges (DEXs), a unique metaverse, and several blockchain games. The network would also record increased transaction speeds, lower fees, and added token utility and better-decentralized application (Dapps) development.
Devs push SHIB for partnerships and a metaverse
The developers of Shiba Inu continue to build support in a bid to make the asset get more adoption. SHIB has just been integrated with Alpha Mobile to serve its existing customer base. Users can now use the assets to make online purchases from their mobile phones.
”Greetings from the future of payments with AlphaTopup and Shibtoken. The hottest meme coin of the year may now be used for powering up your phone or making online purchases in AlphaTopup. Don’t miss out on the chance to join the AlphaTopup with SHIB and be part of the revolution,” the statement read.
Courtesy of the partnership, Shiba Inu has opened up to 150 million users and 1,200 mobile operations in a bid to drive up more adoption.
Developers of Shib have announced a metaverse project set to launch in Dec 2023, which will feature 100,595 plots of land with an engaging user experience. According to the announcement, Rocket Pond is set for launch and will visually display the history and development of Shiba Inu. Users can win land through contests and earn passive income on their virtual property creating added utility for the asset.
“While all development takes time, the MV team is confident that by the end of 2023, users will have the opportunity to explore some of the areas in this fantastic world, build, design, play, and develop within it. However, it should be noted that not all areas of the Metaverse will be fully completed as it is an ongoing project. The world will continuously evolve and develop, but there will be several optimized Hubs and all necessary tools for users to start building and creating,” the publication reads.