Shiba Inu remains a prominent figure in the cryptocurrency scene, despite facing criticism from skeptics who label it as a scam. Throughout the past year, Shiba Inu has endured significant doubt, particularly during the delayed unveiling of its blockchain Shibarium. The community also expressed uncertainty due to the leader’s silence, causing further doubt.
The project has faced various campaigns spreading fear, uncertainty, and doubt (FUD), including allegations of code plagiarism in Shibarium and the threat of influential figures like Bitboy Armstrong exposing the founder’s identity. Despite these challenges, Shiba Inu has persevered and established a strong presence in the crypto market. The development team continued to work diligently even during the bear market.
Rodney, a well-known enthusiast of meme coins, recently expressed admiration for Shiba Inu’s resilience. He highlighted that Shiba Inu has endured various FUD campaigns and the most extreme bear market but has managed to survive.
Shiba Inu’s resilience is evident in its market value, which exceeds $14 billion, making it the second most valuable meme-themed cryptocurrency. The launch of Shibarium has contributed to its success, with a total of 417,371,936 transactions recorded since its launch nine months ago. The blockchain has interacted with 1,794,736 wallet addresses and produced over 4.5 million blocks. Shibarium’s adoption has been significant, especially among crypto developers, as its transaction fees rival those of other networks.
Additionally, the Shiba Inu development team manually burned over 43 billion SHIB tokens in less than eight weeks through Shibarium. They are currently testing the auto SHIB burn phase. Shiba Inu has also enhanced its global branding by releasing SHIB-themed products, collaborating with fast-food store Welly, and partnering with hardware wallet provider Tangem.
Shibarium’s contributions to Shiba Inu extend beyond token burning. The development team is working on a layer-3 blockchain to address privacy concerns. To expedite this development, Shiba Inu recently raised $12 million. Furthermore, Shiba Inu has secured partnerships with prominent players in the tech industry, including Zama, D3 Global, and CDSA, an association that includes giants like Apple and Netflix.
It is important to note that this content is for informational purposes only and should not be considered financial advice. The author’s opinions expressed in this article do not reflect those of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses.