9h00 ▪
3
min reading ▪ by
Evans S.
Shiba Inu has just made a sensational entry into the top 10 cryptocurrencies by market capitalization. Thanks to an impressive growth of 20% in just 24 hours, this canine-themed token confirms its major role in the crypto universe. But what lies behind this meteoric rise?
A spectacular comeback fueled by a bold crypto strategy
The meteoric rise of Shiba Inu is based on well-orchestrated strategic elements. In just one day, the crypto saw its capitalization rise to $18.9 billion, surpassing heavyweights like Avalanche and Tron. This rebound is mainly attributed to market dynamics favored by an aggressive burning mechanism.
Indeed, nearly 2 billion SHIB tokens have been burned over the past week. This process, which involves permanently removing cryptos from circulation, aims to reduce supply while stimulating demand. Result ? A surge in price thanks to the economic law of supply and demand.
However, that's not all. The Shiba Inu ecosystem has also benefited from the optimism surrounding Shibarium, its dedicated blockchain solution.
After a successful update, this platform is now operational, offering new features to users while strengthening the credibility of the project.
Shibarium: the catalyst for a promising future
Shibarium is much more than just a technical project. This blockchain solution, developed by the Shiba Inu team, brings real added value to memecoin.
In particular, it makes it possible to automate the burning of tokens, with more than 300 million SHIBs destroyed since its launch.
Kaaldhairya, one of the main developers of the project, recently announced a series of improvements planned for the coming months.
These updates aim to optimize burning processes and strengthen the security of the crypto platform. At the same time, the community, loyal and committed, plays an essential role in this positive dynamic, actively supporting each development.
This strategic positioning, combining innovation and reduction in supply, seems to have propelled Shiba Inu to a place of honor in the ranking of cryptocurrencies. But will this momentum be enough to keep the coin in the top 10 in the long term?
The recent success of Shiba Inu marks a significant development for so-called “meme” cryptos. Long criticized for their lack of fundamentals, these tokens are now demonstrating their ability to compete with traditional market players. However, a question arises: Are memecoins dooming Web3?
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Evans S.
Fascinated by bitcoin since 2017, Evariste has continued to research the subject. If his first interest was in trading, he is now actively trying to understand all the advances centered on cryptocurrencies. As an editor, he aspires to continually deliver high-quality work that reflects the state of the industry as a whole.
