The Resurgence of Shiba Inu (SHIB)
The memecoin trend may have faded, but Shiba Inu (SHIB) continues to grab attention. Recent data shows that the SHIB network has experienced significant growth, and the token’s supply on exchanges is at its lowest level since 2022.
Market Buzz for Shiba Inu (SHIB)
Despite its underwhelming price performance, SHIB has seen a rise in new daily addresses. This surge in interest suggests a newfound demand for the token and could potentially breathe new life into it.
Shibarium Highlights
Although SHIB’s price has retraced this year, the upcoming Shibarium updates have generated small rallies for the memecoin. The updates include features such as blockchain gaming, decentralized entertainment, and international governance, among others. The launch of Shibarium’s layer 2 is expected to increase the token’s burn rate capacity.
Speculations on Shibarium
The SHIB community is speculating that Shibarium will further boost the token’s burn rate. However, the project’s team has not disclosed any information regarding this.
Hot Take
Despite the fading memecoin trend, Shiba Inu (SHIB) continues to gain attention and show signs of growth. With the upcoming Shibarium updates and potential increase in burn rate capacity, SHIB may have more room to grow in the future.
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