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There have been a number of impressive growth milestones associated with the Shiba Inu (SHIB) meme coin, but three unique ones seem to stand out. One of these metrics, according to data from CoinMarketCap, is the meme coin’s overall rate of growth from its lowest price point, a figure that is currently pegged at 9,057,916.38%.
Despite a series of price fluctuations and the number of crypto winters it has experienced, some of the early backers of the protocol, who are still holding onto their bags, are in more enormous gains than even the best high-performance digital currencies in Web3.0 today, a stat that looks too good to be true.
Shiba Inu might be the second most recognized meme coin after Dogecoin (DOGE). It is arguably the first to pivot from being just a fun token into the smart contract world through Shibarium.
Per the Shibarium pivot, a total of more than 1.7 million wallet addresses have been created on Shibarium in just about a month of its launch, a stat that underscores the high demand for utilities associated with the protocol.
As far as the Shiba Inu protocol is concerned, the goal is to push the limits on all sides to print a price tag close to or equal to $1. Though Shibarium has been tipped as one of the most important avenues through which this milestone will be reached, another major statistic for the ecosystem is the burn rate.
Over the past few weeks, billions of Shiba Inu tokens have been burnt in a growing bid to reduce the massive supply of the meme coin currently in circulation at this time. With the Shibarium burn portal also under development by the core team, the acceleration of this circulating token removal option will be intensified.
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey’s articles has been featured on Blockchain.news, Cryptonews and Coingape, among others.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.
