The meme coin niche seems to be taking this revival more personally as the larger digital currency ecosystem returns to its default bullish setting. Shiba Inu (SHIB), the second-largest meme currency by market valuation, has printed a remarkable 9.89% and its price is currently set at $0.000009829.
The SHIB increase is regarded as unique since the token has been on a consistent negative run for the most of this year, and the revival represents a change from that opinion. The volume of SHIB traded overnight has risen as high as 52.37% to more than $383.4 million, supporting the expansion in a notable way through different types of on-chain positive.
The anticipated catalyst for the Shiba Inu growth trend is not implausible since bulls are aware of the risks associated with the impending introduction of Shibarium, the company’s Layer 2 protocol. The Blockchain Futurist Conference, which is set to take place the following weekend, will see the debut of the Shibarium mainnet.
Shiba Inu and each protocol inside its ecosystem will enter a new age with Shibarium. It is predicted that there will be a great deal of demand for Shiba Inu due to its increased utility through the development of decentralised apps (dApps), which will improve its overall importance within the meme coin ecosystem.
Is SHIB’s growth here to stay?
Cryptocurrencies are frequently characterised by extreme volatility that is difficult to forecast. Although the present upswing is positive, there is a good likelihood that it will soon start to slow down.
Shiba Inu has significantly changed since it first revealed its ambitions to launch Shibarium, moving away from being only a speculative token.
It is currently placing more emphasis on accessibility and relevancy as a tool to aid in the growth of its coin as its ecosystem grows. The protocol’s core developers are placing more emphasis on this goal in the hopes that the expansion of SHIB and other tokens in the ecosystem will allow them to keep the majority of their current earnings in the near future.
