Can Shiba Inu (SHIB) Move Out of the Meme Coin Category?

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Shiba Inu (SHIB) is one of the most popular altcoins and the second-most popular in the meme coin category. It comes after the world-famous Dogecoin (DOGE) and is even believed to outperform DOGE in the future. While nothing can be said with certainty at the time, crypto enthusiasts have been speculating.

In 2021, SHIB also made its way to the top crypto assets by market cap. Even though the meme coin has dropped in rank, the development team has been working on something likely to boost its utility in the real world and might help it escape the meme coin category.

Shiba Inu is an outstanding crypto asset that has gained a lot of attention and success with time. However, if you also want to invest in it then make sure you opt for one of the major crypto exchanges supporting Shiba Inu.

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What Could Boost SHIB’s Significance and Real-world Utility?

To the delight of Shiba Inu enthusiasts, a layer-2 blockchain around the network is close to completion. This is known as Shibarium and brings along a lot of hope and optimism for the meme coin.

Even though an exact date of the launch has not been revealed, it is speculated to happen sometime in June.

Shibarium will introduce several improvements that are anticipated to boost the value and utility of the meme crypto asset and help it step out of the meme coin arena.

The positive impact of the development was indicated by the lead developer of SHIB, Shytoshi Kusama. He recently posted a GIF on Twitter that many have analyzed to be a positive indication.

Some of the benefits that are likely to be seen because of Shibarium include the following:

  • Approval of transactions in seconds and with cheap fees.
  • Low fees for every game, service or anything built on it.
  • Opportunities for developers to build on the platform.

Crypto analysts also believe that Shibarium can be the incentive needed for the price of the meme coin to boost higher than the high points noted in 2021.

The meme crypto asset is currently trading at $0.00001063 (at the time of writing).

Here is a graph by CoinMarketCap that shows the price of SHIB over the last seven days.

shib-graph-07-06-2022

Seeing the price movement above can cause many to wonder, “Is Shiba Inu worth holding long-term?”. However, the new development is expected to change quite a lot of things for the meme coin, which will only be evident with time.

Helpful Tips for New Crypto Investors

As mentioned above, Shiba Inu is one of the most well-known cryptocurrencies in the market. It may not have a high price at the moment but its popularity remains unaffected.

The new development, however, might bring along a lot of changes and even help SHIB escape the meme crypto asset category.

If you are new to the crypto space, there are a few essential tips you should know and consider for an overall less stressful and convenient experience.

  • Make sure you choose the best exchange to buy Shiba Inu.
  • Monitor the price movement of SHIB or whichever digital asset you want to buy.
  • Know what is the right time to invest.
  • Start by investing as much as you can afford to lose.

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