It seems that investors are more interested in the coin meme than ever. SHIB’s strong price movement has even attracted skeptics, and the latest data shows impressive results.

The hype surrounding the Shiba Inu dog-inspired cryptocurrency has grown so much that it has established itself as the fifth most popular smart contract on the Ethereum network.

The growing attractiveness of SHIB

According to the latest data from Dune Analytics, Shiba Inu has even outperformed tokens like Uniswap v3 SwapRouter, USDC and WETH.

Source: Dune Analytics

The dashboard also showed that there were over 450,000 unique views for SHIB.

In addition, SHIB is also the seventh largest gas burner in the Ethereum network. This milestone event as a result of increased network activity and gas consumption around the token was recorded by TokenView’s Ethereum Explorer.

Ethereum hit another record high yesterday as new data shows that more tokens were burned than released, like Bitcoin magazine Report. This trend has continued uninterrupted for a week. In other words, the network has just seen a week of net deflation following the London hard fork.

Shiba Inu also contributed to this success. In the past seven days, the meme coin burned a total of 127.15 ETH. The industry giants Uniswap V2 Router and Tether burned 525.28 ETH and 296.6 ETH respectively in the same period.

Thanks to the incredible rally, SHIB has outperformed several large-cap cryptocurrencies, including Dogecoin.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Cryptopotato

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page