Despite negative reports from people who label it a scam project, Shiba Inu continues to dominate the crypto scene.
The token faced severe criticism over the past year, which led to FUD among investors. One event that caused FUD was the delayed launch of the layer-2 blockchain, Shibarium.
Also, the silence of the project’s founder, Shytoshi Kusama, resulted in further uncertainty and doubt. Other issues, such as allegations of plagiarism in Shibarium’s code, have also been at the forefront of events.
Wait until I dox the founder of $SHIB it’s coming this week. Heck maybe tmrw https://t.co/aAKW39I92G
— Bitboy Crypto (@Bitboy_Crypto) March 16, 2023
Further, influencer Ben “Bitboy” Armstrong threatened to expose the identity of Shiba Inu’s founder at some point.
Shiba Inu Thrives Despite FUD Events
Nevertheless, Shiba Inu continues to grow and expand with the SHIB Army, which is still loyal to the project. Also, the development team has continued to build and develop innovations relevant to the crypto space, such as Shibarium.
As such, memecoin lover Rodney applauded Shiba Inu’s determination to succeed. According to Rodney, SHIB has experienced all types of FUD and survived the craziest beat market.
Also, he noted that SHIB shows no signs of slowing down and remains the number two memecoin. Shibarium is one of the latest developments that gives Shiba Inu leverage in crypto circles.
The Shibarium project launched nine months ago and has recorded over 417.40 million transactions. It has also interacted with 1.79 million wallet addresses, minting over 4.6 million blocks.
These figures show that Shibarium has boosted the adoption of Shiba Inu and improved its transaction fee structure.
Also, Shibarium has facilitated the burning of over 43 billion SHIB in just eight weeks. Currently, Shiba Inu is working on an automatic SHIB burn mechanism, which is in the testnet phase.
Additionally, the token has upgraded its brand by launching Shibacals and collaborating with the fast-food store Welly. They also have a significant partnership with hardware wallet provider Tangem.
Remarkably, Shiba Inu is included as one of the payment options for purchasing the hardware wallet. This also increases the adoption of Shiba Inu based on its utility for payment.
Future Plans Confirms Shiba Inu’s Unending Quest for Excellence
Also, Shiba Inu’s development team seeks to solve privacy issues with a layer-3 blockchain. Shiba Inu’s team raised $12 million to support the launch of a new L3 blockchain.
According to a report by The Block, Shiba Inu raised $12 million by selling its unreleased token, TREAT, to non-U.S. venture capital investors.
This Layer 3 blockchain will enable end-to-end data encryption even during the processing phase. SHIB developers will also ensure that the new blockchain conforms to all regulatory requirements.
Additionally, Shiba Inu has partnered with the Content Delivery and Security Association (CDSA). The goal is to handle AI-driven content challenges through Shibarium.
The announcement was detailed in a blog post on April 11. Shiba Inu joined other CDSA members such as Apple, Disney, Adobe, BBC, and Netflix.
According to the report, Shiba Inu’s partnership with the CDSA will focus on content security and protection. According to SHIB’s lead developer, Shytoshi Kusama, “CDSA members are the biggest names in media and entertainment”.
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