Shiba Inu continues to command a notable presence in the crypto scene amid the onslaught of negative energies from those who believe it is a scam project.
Over the past year, Shiba Inu endured significant FUD calls, most notably during the delayed unveiling of the ecosystem layer-2 blockchain Shibarium. Also, the routine silence of the ecosystem leader, Shytoshi Kusama, often triggered rounds of uncertainty and doubts.
Meanwhile, some of the most prominent FUD campaigns against Shiba Inu include allegations of Shibarium’s code plagiarism and the specter of influential figures like Ben “Bitboy” Armstrong threatening to expose the identity of Shiba Inu founder.
Despite these challenging periods, Shiba Inu has weathered the storm and maintains a firm footing in the crypto market. Shiba Inu survived as the development team continued to build even through the bear market.
X user Rodney, a widely followed meme coin lover, recently took to X to express admiration for Shiba Inu’s resilience. In his words:
“[Shiba Inu] has been through all types of FUD and probably the craziest bear market of all time. it’s still here.”
$SHIB has grown so much over the years.
It's been through all types of FUD and probably the craziest bear market of all time.
It's still here.
The #2 #Mememcoin in the space with no signs of slowing down. @Shibtoken pic.twitter.com/UxW7id52EX
— Rodney (@cryptojourneyrs) May 7, 2024
How Shiba Inu Continues to Stand
As Rodney rightly pointed out, Shiba Inu remains the second most valuable meme-themed crypto with a valuation exceeding $14 billion. Among the released developments that have kept Shiba Inu going is the launch of the blockchain Shibarium.
Shibarium launched nine months ago and has registered a total of 417,371,936 transactions, according to the latest record. The blockchain has interacted with 1,794,736 wallet addresses and minted over 4.5 million blocks.
Essentially, Shibarium has bolstered adoption for Shiba Inu, particularly in the crypto developer community, with transaction fees rivaling other networks.
Furthermore, through Shibarium, the Shiba Inu development team was able to manually burn over 43 billion SHIB tokens in under eight weeks. Now, Shiba Inu is gradually pivoting to an auto SHIB burn phase, which is currently in the testnet.
Besides, Shiba Inu enhanced its global branding by launching SHIB-themed products such as Shibacals and through collaborations with the fast-food store Welly and hardware wallet provider Tangem
Shiba Inu Shows No Sign of Slowing Down
Moreover, Shibarium’s effort for Shiba Inu does not end with burning SHIB tokens. The development team seeks to solve privacy concerns by developing a layer-3 blockchain. Last month, Shiba Inu raised $12 million to expedite efforts to launch this L3 blockchain under development.
Additionally, through the years, Shiba Inu secured numerous partnerships with some of the most prominent players in the tech space. They include active collaborations with Zama, D3 Global, and one of the latest, CDSA, an association featuring giants like Apple and Netflix.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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