9h05 ▪
3
min read ▪ by
Evans S.
Shiba Inu has just made a sensational entry into the top 10 cryptocurrencies by market capitalization. With an impressive growth of 20% in just 24 hours, this dog-themed coin confirms its major role in the crypto universe. But what lies behind this spectacular 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 market capitalization soar to $18.9 billion, surpassing heavyweights like Avalanche and Tron. This rebound is mainly attributed to a market dynamic driven by an aggressive burning mechanism.
Indeed, nearly 2 billion SHIB tokens have been destroyed over the past week. This process, which involves permanently removing cryptocurrencies from circulation, aims to reduce supply while stimulating demand. The result? A price surge 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 enhancing the project’s credibility.
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 the meme coin.
It allows for the automation of token burns, with over 300 million SHIB 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 the burning contracts and enhance the security of the crypto platform. In parallel, the loyal and engaged community plays an essential role in this positive dynamic, actively supporting each development.
This strategic positioning, combining innovation and reduction of supply, seems to have propelled Shiba Inu to a place of honor in the cryptocurrency rankings. But will this momentum be enough to keep the coin in the top 10 in the long run?
The recent success of Shiba Inu marks a significant evolution for so-called “meme” cryptos. Long criticized for their lack of fundamentals, these coins now demonstrate their ability to compete with traditional market players. However, one question arises: Do memecoins condemn 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.
