Shiba

Ethereum

Read

Shiba Inu

Coin

<ul>
 <li>A valuation of $17 billion and 1.4 million holders underscore the dominance of Shiba Inu over the Ethereum meme coin ecosystem.</li>
 <li>Growth of Shibarium boosts SHIB, as $1.6 million gets locked in projects, and on-chain burns increase.</li>
 <li>Institutional adoption of SHIB, including Kronos accepting it for payments, proves that the asset’s use case is expanding.</li>
</ul>
<p>Shiba Inu still heads the charts as the number one meme coin within the <a href="https://cryptonewsland.com/ethereum-scaling-ecosystem-achieves-record-246-18-tps-xai-leads-with-101-72-tps/" target="_blank" rel="noopener noreferrer nofollow">Ethereum ecosystem</a>. It comes with large-cap status, given its $17 billion valuation and $156 million in daily traded volume. It has almost 1.4 million holders on-chain—this goes a long way to show its strides in adoption.</p>
<p>First, the network development and support from <a href="https://cryptonewsland.com/vitalik-buterin-champions-open-internet-through-blockchain/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s co-founder</a>, Vitalik Buterin, impressed people on the Shiba Inu. This has kept Shiba Inu relevant throughout the crypto bear market. Firmly powering SHIB were Shibarium layer two ecosystems.</p>
<p>As of this report, Shibarium is hosting a dozen web3 projects, with $1.6 million locked on the network. In essence, that increases the SHIB on-chain burn rate because of Shibarium adoption. Increasing the burn rate raises the value of existing tokens. The mass adoption of meme coins has made Shiba Inu attractive to more institutional investors. These are investors looking to diversify their crypto portfolios.</p>
<p>For instance, Kronos Advanced Technologies Inc. announced that it would also accept Shiba Inu as a means of payment. This development, according to Greg Rubin, CEO of Kronos, reflects the growing demand for alternative modes of payments, as outlined in the news release. Moreover, using Shiba Inu, Kronos customers will instantly be offered a 10% discount on their order by applying the coupon code “SHIBARMY10.”.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Big news <a href="https://twitter.com/hashtag/SHIBARMY?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIBARMY</a>! Kronos Advanced Technologies becomes the FIRST public company to accept <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> for payments! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/6bhycVER6v" rel="noopener noreferrer nofollow">https://t.co/6bhycVER6v</a></p>— Shib (@Shibtoken) <a href="https://twitter.com/Shibtoken/status/1808097485644067014?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-market-performance-and-outlook-ahead"><strong>Market Performance and Outlook Ahead</strong></h2>
<p>That means that <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu’s price</a> has increased year over year from a bullish breakout of the crypto bear market in 2022. The cost of SHIB, against the US dollar, will, however, drop midway to retest the increasing macro logarithmic trend. At the same time, its middle-term dip is offset by SHIB’s ongoing development and interest from institutional investors that fill its long-term outlook.</p>
<p>The development of the Shibarium ecosystem is a chief element of <a href="https://cryptonewsland.com/shiba-inus-hard-fork-a-game-changer-for-shibs-future/" target="_blank" rel="noopener noreferrer nofollow">SHIB’s future growth</a>. Hence, with increased locking of value on Shibarium could come further improvement in SHIB’s on-chain metrics. Therefore, Shiba Inu will continue to strengthen its position among the top-ranked meme coins within the crypto market. The Shiba Inu has undertaken resilience amidst tides of new meme coins, which most rightfully proves that fundamentals are solid.&nbsp;</p>
<p>Support from the Ethereum Co-founder and real growth in Shibarium constitute other factors behind its relevance. On top of this, increased interest from institutional investors and more extensive adoption make SHIB’s future look very bright. While moving through the crypto landscape, Shiba Inu has retained its place as one of the leading contenders in the niche area of meme coins.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/kronos-research-suffers-1-4m-loss-due-to-code-tampering/" rel="noopener noreferrer nofollow">Kronos Research Suffers $1.4M Loss Due to Code Tampering by Disgruntled Engineers</a></li>
 <li><a href="https://cryptonewsland.com/shibarium-beta-smashes-over-31m-transactions-amid-bones-debut-on-changelly/" rel="noopener noreferrer nofollow">Shibarium Beta Smashes Over 31M Transactions Amid $BONE’s Debut on Changelly</a></li>
 <li><a href="https://cryptonewsland.com/summer-of-shibarium-present-shibarium-hackathon-grand-prize-5000/" rel="noopener noreferrer nofollow">Summer of Shibarium Present Shibarium Hackathon, Grand Prize $5,000</a></li>
 <li><a href="https://cryptonewsland.com/shibarium-goes-live-shiba-inu-and-shib-army-await-new-ath/" rel="noopener noreferrer nofollow">Shibarium Goes Live, Shiba Inu and SHIB Army Await New ATH</a></li>
 <li><a href="https://cryptonewsland.com/shibarium-shiba-inus-innovation-redefining-business-with-9-key-features/" rel="noopener noreferrer nofollow">Shibarium: Shiba Inu’s Innovation Redefining Business with 9 Key Features!</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/shiba-inu-remains-resilient-as-the-meme-coin-rush-continues-and-shibarium-grows/" rel="noopener noreferrer nofollow">Shiba Inu Remains Resilient as the Meme Coin Rush Continues and Shibarium Grows</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Shiba Inu Remains Resilient as the Meme Coin Rush Continues and Shibarium Grows

Table of Contents

Crypto News Land

Outros artigos publicados em 3 de jul. de 2024

Imperial College London launches new lab, backed by £1 million from the IOTA Foundation

Why Generative AI Is the Much Needed Catalyst for User-Generated Content

Toncoin and Cardano Lead Gains Amid Crypto Market Slump

Crypto Market Selloff: Why Bitcoin, ETH, DOGE, SHIB Prices Are Falling Today?

Bitcoin Breaks a New Record – Does It Signal a Rally? Santiment Explained

Top Altcoins To Buy If Bitcoin Slips Under $60,000

Join our free newsletter for daily crypto updates!