The article discusses why Shiba Inu will continue to be classified as a meme coin, despite its efforts to transition into a utility project. Shiba Inu has launched various projects within its ecosystem, including an L2 blockchain, a decentralized exchange, and games. However, the significant factor keeping Shiba Inu in the meme coin category is its large circulating supply, which is similar to other meme coins. Established utility cryptocurrencies have limited supplies, which can drive up their value. In order for Shiba Inu to move away from being labeled a meme coin, a substantial amount of its supply would need to be burned.



Other News from Today