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- Following the announcement, Shiba Inu’s price gained approximately 11 percent in the past 24 hours to trade around $0.00000821 on Thursday.
- The launch of Shibacals is geared towards increasing utility for SHIB and other crypto projects that integrate the NFC chips.
The mainstream adoption of meme coins, including Shiba Inu (SHIB), is significantly shifting from speculation alone to utility-based developments. Moreover, there are hundreds of meme coins that offer the same thing on speculation. As a result, Shiba Inu developers have been working through the Shibarium layer two scaling solution to widen the adoption process.
Ranked among the top 20 digital assets by market capitalization, Shiba Inu is well positioned to rally further in the coming years as the crypto bull market unfolds. Nonetheless, the ecosystem has left nothing to chance as the developers build infrastructure for mainstream adoption.
Shibarium and Shiba Inu on Cusp of Mainstream Adoption
According to a blog post by lead Shiba Inu developer, Shytoshi Kusama, the Shibarium ecosystem is on the verge of mainstream adoption with key products in the pipeline. Among the products in the Shiba Inu pipeline are Shibacals authenticated collectibles, champion garments, and an upcoming worldpaper.
Notably, the Shibarium network will be able to authenticate physical goods through the NFT market with the help of NFC chips. Meanwhile, the lead developer noted that Shiba Inu is in discussions with multiple blockchains to adopt this authentication.
“While not a new concept, eBay, for example, authenticates watches, sneakers, and purses, and rumors of Amazon’s foray into NFTs abound; Our unique approach of digital authentication of physical items through an NFC chip, creation of the items in the house, and blockchain transaction sets us apart and demonstrates just one use-case for Shibarium,” the blog noted.
In a bid to give Shibacals project a real-world utility, the Shiba Inu team has launched Champion Apparel which uses NFC chips to verify the garments on blockchain in real-time. Kusama added;
I have to mention and thank Hewlett Packard who have created, through their amazing printing service, the first batch of Shibacal, Shib-themed, NFC Authentication Tags. They look amazing,
Meanwhile, Kusama announced the launch of a worldpaper to help shed more light on the ecosystem of tokens, products, platforms, and services. The Worldpaper is expected to expound on the Shiba Inu roadmap, particularly on decentralization, and also touch on the network’s official partners. Nonetheless, the team leader clarified that the worldpaper is different from the Woofpaper in both details and perspective.
Market Outlook
The Shiba Inu coin gained approximately 13 percent in the past 24 hours to trade around $0.00000832 on Thursday. According to our latest crypto market data, Shiba Inu has a market capitalization of about $4.85 billion and a fully diluted valuation of approximately $8.2 billion.
The launch of the new product has an ultimate bullish effect on Shiba Inu tokens including LEASH, BONE, and SHIB. Moreover, more on-chain activity means a higher SHIB burn rate that reciprocates to an increase in underlying value.
