Shiba Inu Expansion To Italy Through Welly's Fast Food Chain

Shiba Inu (SHIB) expands to Italy through the Welly fast food chain (Photo; Doc. Nftevening)

JAKARTA - Shiba Inu (SHIB) is expanding its reach to Italy through the Welly fast food chain. According to the X account of Welly Friends, this fast food restaurant has opened their second shop in Reggio Emilia, a city in the Emilia-Romagna area, Italy.

The opening ceremony was lively to celebrate the new store. The official X account from the Shiba Inu ecosystem responded with enthusiasm to the post, showing their support for Welly's expansion in Italy, which also indirectly expanded the reach of SHIB.

According to Coingape's information, Welly Friends was first launched in Italy in October 2021. In the following year, SHIB's main developer, Shytoshi Kusama, announced his company's interest in plunging into the food business segment. Therefore, Shiba Inu partnered with Welly. Once the deal was signed, this fast food restaurant overhauled its brand to match the Shiba Inu theme, including the smiling SHIB dog logo and the interior design of a blue and white store. It is important to note that Welly is an early investor in the Shiba Inu community and is also integrated into the Layer-2 SHIB scaling solution, known as the Shibarium.

Shibarium is a Layer-2 scalability solution designed to optimize the Ethereum blockchain. To understand what Shibarium is, we need to understand a little bit what Layer-2 solutions are. Vitalik Buterin, co-founder of Ethereum, states that in blockchain trilema, we have to sacrifice scalability, decentralization, or security to get two of those three elements. L2 serves to solve the scalability problem without compromising the other two elements.

Ethereum, for example, despite decentralization and safety, is experiencing a scalability problem. During peak traffic, such as the CryptoKitties Traffic Failure Crisis in 2017, Ethereum has become slow and expensive to use. Since its launch in 2021, SHIB has been operating on the Ethereum blockchain, thus experiencing the same problem. L2 solutions improve scalability without disturbing the other two elements in the blockchain trilema.

Welly's integration with SHIB gave ShibArmy hope that they would actively participate in the burning of SHIB tokens. In the past week, SHIB's burning rate has soared by more than 530%, sparking discussions among investors. This significant increase in burning rates raises market optimism among crypto enthusiasts, who expect a potential price increase for SHIB.

Unfortunately, the burning rate of this dog-themed memecoin has decreased dramatically recently, and it was recorded that it had decreased by -93.96% when this article was written.

Shiba Inu community members previously launched a new combustion initiative. This proposal focuses on burning 1% of all transactions involving Shiba Inu tokens. The initiative is explicitly aimed at obtaining support from Binance and Coinbase, two of the world's most famous crypto exchanges. With the current low burning rate of SHIB, efforts may be strengthened to bring this burning to other crypto exchanges.