Shiba Inu Flying In The Middle Of The Viral GameStop Token, This Is The Cause!

The price of Shiba Inu is rising. (Photo; Doc. Finance Magnates)

JAKARTA - In the midst of the rise of meme coins and the rise of crypto projects inspired by the GameStop token (GME), Shiba Inu (SHIB) has actually shown its defenses again. This Ethereum-based Altcoin (ETH) jumped more than 5% in the last 24 hours, breaking the price of $0.000025 on Thursday morning during the London session.

The increase in SHIB this time cannot be separated from several factors. First, the increase in demand for the overall coin meme. Along with the increasing interest of investors in digital assets that are unique and easily accessible, coin memes such as SHIB are again looked at.

Second, a spike in GameStop-inspired crypto projects. The recent GameStop phenomenon, in which retail investors unite to fight the dominance of hedge funds, has sparked a wave of speculation in the crypto market. The same retail investors are believed to have contributed to the increase in coin memes, including SHIB.

However, behind this increase, there is a stronger fundamental factor driving SHIB, namely Shibarium adoption. The Shibarium is a two-layer scaling solution designed to increase the scalability and efficiency of the Shiba Inu network. The implementation of the Shibarium has brought some significant benefits, including:

According to on-chain data, more than 41% of Shiba Inu's total supply has been burned, demonstrating the Shiba Inu team's commitment to reduce supply and increase token value.

"Every exchange and every staking in ShibaSwap strengthens our ecosystem," said the Shiba Inu team. "The increased trade volume provides more cost to stakers and LP providers, establishing ShibaSwap as the best center for community tokens. In addition, more and more transactions are running on the Shibarium blockchain, more and more protocols will burn the basic gas costs that will affect the overall burning rate of $SHIB."

The combination of strong fundamental factors and positive market sentiment makes SHIB one of the strongest coin memes today. With Shibarium's growing adoption and an active community, SHIB has the potential to continue to grow and benefit its users and investors.