Shiba Inu’s Strong Fundamentals
A crypto analyst named Altcoin Sherpa believes that Shiba Inu (SHIB) has a chance of becoming the top meme coin, surpassing Dogecoin (DOGE). This is because SHIB’s fundamentals have been improving, including an increase in the number of tokens being burned.
Shibarium: A Game-Changer
Shiba Inu has an advantage over Dogecoin with the launch of Shibarium, a layer-2 network. Shibarium gives SHIB real-world utility, unlike DOGE.
Aggressive Token Burning
The SHIB team has been actively burning tokens, which reduces the supply and potentially increases the value. The burn rate has recently increased by 89% in the past week and 4000% in the past 24 hours.
Investor Expectations
While Altcoin Sherpa cautions that new investors may not see a 20x return, SHIB is still expected to perform well in this bull market. However, patience is key as the gains may not be immediate.
Potential Price Targets
Some analysts predict that SHIB could reach its all-time high of $0.00008845 or even higher in this market cycle.
