Is shiba still a meme coin?
Shiba Inu is still considered a meme coin by the cryptocurrency community, but it has gained some recognition beyond just being a meme. While its origins and branding are rooted in internet culture and the Shiba Inu dog meme, Shiba Inu has made some significant developments in terms of its utility and market value.
Shiba Inu has launched its own decentralized exchange called ShibaSwap, offering users the opportunity to trade and provide liquidity for various tokens. It has also implemented a burning mechanism, which reduces the supply of SHIB tokens over time, potentially increasing its value.
However, it's important to note that Shiba Inu's status as a meme coin still influences its perception in the cryptocurrency community, with skeptics cautioning about its long-term sustainability and potential risks.
Last updated 10/24/2023, 5:11:09 PM
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