Shiba inu’s biggest strength is not meme hype anymore, but this.

Shiba Inu, or SHIB for short, had one of biggest launches ever in the crypto world. In August 2020, the asset experienced a huge price increase within months. The price of SHIB rose by over a million percent, and reached an all-time record high in October 2021 at $0.00008616. SHIB has experienced a steep drop in price since the 2021 high. SHIB is no longer a memecoin, but an all-around cryptocurrency.

Shiba Inu’s strength has become a meme in cryptoculture

Shiba Inu was launched initially as an alternative to Dogecoin. This coin has also been dubbed the “Doge killer.” SHIB’s value also moved along with the overall memecoin price. SHIB began as a simple memecoin but has grown beyond its original meme roots.

Memecoins are not real assets. These coins are more like collectibles and represent internet culture than real assets. Shiba Inu, on the other hand, has been making significant inroads to becoming a true blockchain project.

Shibarium was launched in order to remove Shiba (SHIB), a Shiba-based cryptocurrency, from the Ethereum blockchain. SHIB has now its own layer-2 networks where developers can develop on. Shibarium’s number of applications has grown significantly, and this trend is likely to continue.

Shiba Inu launched products to increase the number of use cases in this ecosystem. The platform is one of the biggest. ShibOSPlatform to help businesses move from Web2 into Web3. ShibOS adoption is likely to increase as the blockchain technology mainstreams.

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Shiba Inu team (SHIB), a report claims, is working on an alternative burn mechanism. This could be used to burn billions of coins per year. SHIB’s huge supply represents a barrier for the asset’s price. SHIB’s price may surge if SHIB can reduce its supply dramatically while still maintaining demand.