I took a closer look at Shiba Inu and why so many people seem obsessed with this crazy meme coin. It turns out that, in fact, Shiba Inu has long graduated form being a meme and taken on utility along the way. It's currently sitting at number two on the meme coin chart by market cap. Doge, of course, is number one at 6X the market cap of Shib.

Looking at the fundamentals of Shiba Inu, if you can call it that, it seems to me that it will eventually overthrow Doge and become the king of memes. That is, of course, if something else doesn't come from behind and take the top spot from both Doge and Shib.

There is a rumour that the UAE may be considering a $SHIB strategic reserve. That's a rumour, but what isn't is the fact that they are already using ShibOS. That makes it more likely that it may in fact come to pass.

In the long run, UAE or not, it seems Shib is set to eventually reduce its circulating supply via the various burning mechanisms. The more applications use the platform as well, the more rapid the burning process is. Eventually, whatever happens and as long as the blockchain stays up, it seems the price of $SHIB is meant to go up and up. I can even see an event horizon of sorts, a turning point, at which the price will go parabolic.

Not financial advice, as usual, do your own research.

Peace & Love,

Adé