Additionally, the imminent launch of the privacy-focused layer-3 network will boost the meme coin’s utility and help boost its adoption. The Shiba Inu team’s efforts also present a bullish outlook for the meme coin, as they have made several key announcements that provide a huge boost for SHIB.
These announcements include the imminent launch of the Shib DAO and Foundation, Shiba Inu’s partnership with Mass Finance, and the SHI stablecoin that could launch in the Shiba Inu ecosystem at some point.
Shib’s burn rate is one reason for its bullish outlook, as the number of tokens burned continues to spike, opening up the possibility of the meme coin becoming more valuable and enjoying significant price rallies.
The layer-2 network Shibarium is also a reason to be optimistic about Shib’s future, as transaction fees on the network are used to buy and burn SHIB tokens.
Shiba Inu (SHIB) might be one of the major gainers in this market cycle despite its underperformance compared to other meme coins. This is due to the meme coin’s fundamentals, which paint a bullish outlook for it.
