• Shiba Inu (SHIB) is set up for a massive rally driven by the upcoming metaverse, continued Shib burns, and the Shibarium release.
• SHIB has faced investment competition from up-and-coming memecoins such as PEPE and Cardano’s SNEK but remains by far more popular.

Shiba Inu remains one of the most popular memecoins in the crypto market. A majority of investors have been drawn to the project due to its commitment to grow beyond its memecoin status through various upgrades that drive utility to the project and ensure the future growth of Shiba Inu’s SHIB.

After months of development, developers have revealed that Shibarium is launching this month. This is a pivotal upgrade that will ensure the transition of Shiba Inu to a top-tier blockchain project. Shibarium as CNF has reported is a Layer-2 blockchain network on Ethereum enhancing security, and reducing fees and speed for both networks.  Using Shibarium, Shiba Inu will grow into a comprehensive ecosystem that comprises DeFi, Metaverse, blockchain games, and other related products.

Shibarium will introduce its own native token dubbed BONE. Shibarium employs a SHIB token burn mechanism to manage supply and stabilize value. These features are designed to drive demand for BONE and SHIB and ensure their long-term growth.

Another anticipated launch is the Metaverse which is expected to release before the end of the year. This project will launch on Shiba Inu’s Ethereum Layer 2 (L2) blockchain, Shibarium. The team behind the project has failed to give a specific date for this launch. Referred to as SHIB: The Metaverse, this is an entirely independent project within the Shiba Inu ecosystem.

The multiplayer metaverse will drive adoption and engagement as well as earn users passive income using virtual real estate. Developers have further revealed that there are plans to make use of the Shibarium blockchain to get users to create, play and engage in new games.

Shiba Inu (SHIB) burns to drive the price

SHIB burns have been tipped to be one of the ways to ensure that SHIB demand is greater than supply. Although the burns have not had a vast effect on the price of the tokens, billions of tokens have been permanently destroyed and taken out of supply. The rate and amount are set to significantly increase with upcoming upgrades and the launch of Shibarium.

A new burning mechanism showing the expected changes after the launch of Shibariumwas recently revealed by a Twitter user. According to the screenshot shared, users will be able to burn BONE as soon as the amount of Bone ready to be burned is greater than 10 BONE.

Despite facing massive competition from up-and-coming memecoins such as PEPE and SNEK, SHIB remains one of the most promising coins. At the time of press, SHIB is exchanging for $0.000007926 after a 7 percent drop in the last 7 days. Analysts and investors expect the upcoming upgrades will drive up demand and lead to the price rising to as high as $0.0001.