Blockchain analyst identifies a significant role for Shiba Inu in Ethereum’s network.
The analyst thinks Shiba Inu can serve as a failover gas on Ethereum.
Shina Inu’s qualities suit the proposed role, according to the analyst.
A blockchain analyst says Shiba Inu, the network behind the SHIB memecoin, deserves a place in the Ethereum ecosystem as a layer-2 solution. The analyst noted Shiba Inu’s traits and organization, saying the memecoin could be a failover gas token on Ethereum.
https://twitter.com/CryptoLollla/status/1854775006187737209
The analyst highlighted several of Shiba Inu’s characteristics, including SHIB’s status as a decentralized blockchain token with no team or management organization. He also noted its position as the second-highest market-capped token on Ethereum, after Ether.
Meanwhile, the analyst compared Shiba Inu with other protocols in the Ethereum ecosystem. He noted that Solana has two layer-2 eclipses on Ethereum for EVM compatibility. He also found that XRPL uses Ethereum smart contracts for EVM compatibility.
Read also: Beyond Memes: SHIBA INU’s TREAT Token Gives Utility a New Meaning
Coinbase, one of the lead…
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