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I will tell you why. It is because the SHIB dev team is doing what DOGE could not. It is doing what every blockchain should do. They are constantly upgrading the blockchain and making it better and better.
SHIB is a meme coin there is no if's ands or butts about it. But that doesn't mean it can serve a purpose and be useful. SPLINTERLANDS has DEC and SPS and I would wager SHIB is more well known then either of those 'tokens'. SHIB is not DOGE. It is not better or worse then DOGE. It is just different.
The developers of SHIB have realized that SHIB can be so much more than just a meme coin.
Shibarium is where it will all begin. What is Shibarium? It SHIB's own layer 2. When SHIB was created it was created as a cryptocurrency on top of the Ethereum blockchain. It means it was easier to create but also means it suffers from the notorious Ethereum gas fees. Which is why on some faucet sites the minimum withdrawal for SHIB is around 25,000 or 30,000 SHIB but the gas fee is at least 12,500 SHIB.
That is because SHIB transactions are on the Ethereum blockchain. And that is exactly what Shibarium is trying to fix. What the dev team is trying to do is create SHIB's own blockchain so that it will be completely separate from Ethereum and there will be no need to pay stupid high gas fees anymore for moving your SHIB around. The SHIB Army if you will has envisioned SHIB to be the token for gaming. They want to be able to create games that utilizes SHIB as the payment token.
In order to do that, SHIB the token needs to have super fast transactions and super low costs transactions.
The dev team has already released the second private testnet version. Testing is going well and hopefully soon it will make it to the public testnet. When that happens everyone should rejoice because it will be so much closer to being a reality. I firmly believe the price of SHIB is going to go up a lot in 2022 and Shibarium is going to play a huge role in that.
The Whales that are floating around the interwebs are snatching up SHIB left and right. And it would appear they are stockpiling in anticipation of Shibarium going live and SHIB going to the moon. Now look, I am not a financial person, I work in IT for peet's sake. But if people who have invested millions of dollars into something are buying more of it that has to mean something right?
I was reading earlier today that according to WhaleStats the whales currently hold $1.5 billion worth of SHIB. Is that a lot? Well shoot I don't know in comparison to other crypto's but it looks like a lot to me lol.
So look all this to say. I really like SHIB, I like where they are going and how they keep upgrading their blockchain/token. Time will tell if it's a sound investment or not but I am putting my money (well crypto) where my mouth is. NEVER invest/buy/trade/sell/swap anything you can't lose.
The other bit I wanted to touch on is that the amount of people HODL'ing SHIB has almost doubled. The number of people who are HODLing their SHIB between 1-12 months has gone from 533,180 on November 1st, 2021 to 1,050,000 yesterday. That is bonkers and shows you that so many more people are getting on the "bandwagon".
SHIB is also #14 on CoinMarketCap as of time of writing and surpassed Polygon, Litecoin, Cosmos, DAI, UNI and BCH. I know we all love BCH around here but SHIB has surpassed it (and did so a while back).
The 24hr trading volume of SHIB is $4,104,198,468. That is more than 4 BILLION with a "B".
And then there are the BURN parties that happen. Sure SHIB had an initial supply of 1 quadrillion. That is 1,000,000,000,000,000 tokens. So far 410,302,093,313,848 has been burned or 41% of the total supply. So we are looking at 590 trillion supply right now with more and more to be burned as time goes on. So maybe that $1 price point isn't so crazy if the total supply keeps getting reduced.
That is just a few reasons why people are still talking about SHIB. It has the potential ladies and gentlemen. Only time will tell if it can keep climbing.
