Shiba Inu’s Chainlink Deal: What It Means for Crypto Trading

Shiba Inu has made waves with its partnership with Chainlink, marking a turning point for this beloved meme coin. This collaboration isn’t just about hype; it’s a serious attempt to diversify and strengthen the Shiba Inu ecosystem. By integrating Chainlink’s Cross-Chain Interoperability Protocol, Shiba Inu tokens are now less tethered to Ethereum, and could potentially unlock new avenues for growth.

What It Means for Shiba Inu’s Future

Last Tuesday, Shiba Inu announced this anticipated partnership with Chainlink, which many in the community have been waiting for. The initiative broadens the usability and accessibility of Shiba Inu tokens—SHIB, BONE, and LEASH—across a whopping 12 different blockchains, from Arbitrum to Optimism.

What’s the catch? Well, none; but there’s a caveat. As alluring as this all sounds, SHIB still needs to compete with all the other cryptocurrencies out there. And it will be interesting to see how this colossal stage opens up for new entrants.

Shiba Inu’s Tax Burns Feature

Adding to the excitement, Shiba Inu’s team announced a new feature designed to increase the token’s value: a tax burns mechanism. Each transaction on the supported chains will impose a tax, the proceeds from which will be periodically collected and burned on the Ethereum network. While the specifics remain vague, the implications could be significant. The hope is that this will crank up transaction activity, thereby making SHIB more valuable.

The Numbers Game

So here’s where it gets really interesting—SHIB is at about $0.00002231 right now, and a price target of $0.01 seems impossibly far away. A price increase of approximately 50,000%—an astronomical feat, by any standard. Is it too unrealistic? Probably yes, but SHIB has defied all assessments of realism in the past. Remember the highs of 2021?

For now, the promise of potential growth is enough. The SHIB community, while currently pessimistic about the price’s response to this news, remains optimistic when looking ahead. Further announcements may soon follow.

More to Come in the Shiba Universe

Kaal Dhairya also teased more developments in the pipeline. Drawing a comparison to the first infinity stone placed in Thanos’ gauntlet in the Marvel universe, something suggests there is far more on the way.

The integration with Chainlink may just be the beginning for Shiba Inu, and while the market may currently feel unstable, this means the community remains on pace for something worth waiting for.