Key Reasons Why Buying Shiba Inu Could Be Your Best Bet This Cycle

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As a researcher with extensive experience in the cryptocurrency market, I find myself consistently drawn to Shiba Inu (SHIB) due to its unique potential as a significant gainer in this current market cycle. My perspective is informed by the coin’s fundamentals, which indicate a bullish outlook for SHIB.

As an analyst, I am optimistic that Shiba Inu (SHIB) could potentially lead among significant gainers in this market cycle, despite its current underperformance versus other meme coins. This confidence stems from the intrinsic values and fundamentals of SHIB, which point towards a promising future for it.

Why Shiba Inu Could Be The Best Bet This Cycle

In this market cycle, Shiba Inu might be an excellent choice due to its rapid token burning rate. This rate has been escalating dramatically, potentially leading to increased value and substantial price increases for the meme coin. Lately, the burn rate has skyrocketed by more than 7,900%, a trend that could ignite a price jump towards $0.00008.

As a crypto investor, I’m excited about the escalating burn rate of Shiba Inu coins due to the dedicated efforts of their team. They’re strategically employing deflationary mechanisms, one of which is the layer-2 network Shibarium. This innovative platform allows for base transaction fees on the network to be used to purchase and burn SHIB tokens, effectively reducing the number of coins in circulation.

It’s worth noting that despite low network activity on Shibarium, the rate at which SHIB tokens are being destroyed (or burned) has remained high. If Shibarium regains sufficient traction in the future, the burn rate could significantly increase. For instance, around 33.8 billion SHIB tokens were burned back in December when Shibarium had its highest network activity level.

One reason SHIB appears optimistic is due to the upcoming release of its privacy-oriented layer-3 network, which is integrated within the Shiba Inu universe. This addition will enhance the meme coin’s functionality and potentially drive increased adoption, as more users become attracted to its ecosystem. Additionally, there’s speculation that the Shiba Inu developers may introduce a comparable SHIB repurchase and destruction mechanism on the layer-3 network, much like they did with Shibarium.

Big Things Are On The Horizon For SHIB

The hard work from the Shiba Inu group is further indicating a positive trend for the meme token, making it a strong option to consider in this market phase. Lately, they’ve made significant statements, significantly increasing the appeal of SHIB. Notably, Shiba Inu Executive Lucie has announced the upcoming launch of the Shib DAO and Foundation.

The Shib DAO empowers Shiba Inu token holders (SHIB, BONE, LEASH, and TREAT) to contribute to significant decisions within the ecosystem, enhancing its appeal by giving community members a voice in decision-making processes, thereby fostering a more decentralized meme coin environment.

Simultaneously, the Shiba Foundation takes charge of executing decisions made by the Decentralized Autonomous Organization (DAO) accurately. Furthermore, they oversee assets such as the Doggy Treasury and guarantee complete transparency and accountability regarding these funds.

Lucie also recently announced Shiba Inu’s partnership with Mass Finance. The finance company will act as the “financial layer” for the Shiba State. This partnership is expected to help accelerate adoption and pave the way for broader participation in the Shiba Inu ecosystem. 

The Shiba Inu Team Leader hinted at the potential release of the SHI stablecoin within their system, enhancing the likelihood. This move could increase the amount of trading activity (liquidity) in SHIB, potentially sparking additional price surges for this popular meme currency.

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2024-10-18 23:41