Why Investors Are Getting Excited About the Future of Shiba Inu

The rapid growth of Shiba Inu’s (SHIB’s) ecosystem is making investors more and more excited about the future of the meme coin.

Shibarium, its upcoming Layer-2 blockchain, is a particular source of excitement for investors. Recently, the community voted that the minting rate of BONE will be adjusted to only 1 BONE per person. This was done to ensure the sustainability of the Shibarium environment.

The burning of SHIB has also been going at full steam. Shibburn claims that over 767 million SHIB tokens were sent to dead wallets over the last 24 hours. So far, around 1.2 billion SHIB tokens have been burned in over 104 transactions.

Coins.ph, the largest crypto exchange in the Philippines, is also planning to launch SHIB on its platform. Although this development has been delayed, the exchange revealed in a tweet on July 13 that it will be happening “very soon.”

SHIB has been steadily picking up some momentum since the slight recovery in the crypto markets in July. At the time of writing, SHIB was trading at $0.00001139 after a 3.13% increase in price over the last 24 hours. SHIB is also up about 4.08% over the last week.

SHIB’s market cap has also recently surpassed the $6 billion point and is currently standing at $6.24 billion. This means that SHIB is now even closer to cryptos like Avalanche and Polygon.

Today, it was also announced that SHIB is one of the most used smart contracts among the top 500 ETH whales, according to data from WhaleStats.

Looking at all of these developments in the Shiba Inu ecosystem, it is no wonder that investors are getting excited about the future and the potential of the meme coin.