You may have heard of Shiba Inu (SHIB), a cryptocurrency named after a Japanese dog breed and one that previously marketed itself as the Dogecoin killer. It turns out it is more than that, and is currently looking less like a meme coin and more like a cryptocurrency with a purpose.

There are a few things that stand out in Shiba Inu’s case. For example, its creators decided to roll it out with a huge supply which currently sits slightly above 394 trillion SHIB. To say that its supply is inflated would be an understatement. Consequently, it has an extremely low price and is currently trading at $0.000008387.

There are some other observations about Shiba Inu which highlight a peculiar situation. Ryoshi, the project creator seems to be doing things in reverse. For example, the price kicked off with a massive amount in supply and it is said to be deflationary rather than inflationary. The project worked towards building a community before rolling out its DEX or even its network.

Recent market news suggests that it is extremely close to the highly anticipated Shibaswap DEX, which will transform Shiba Inu into a utility token. There is even a Doggy DAO that will oversee the Shiba Inu ecosystem governance. One would expect a DAO to be launched after the launch of a blockchain like many other projects out there but once again this former meme coin seems to be working its way backwards.

Speaking of blockchains, recent reports also suggest that Shiba Inu developers are also developing a blockchain that will be rolled out in the future. What does this mean for Shiba Inu? It looks like the developers want to have a robust ecosystem at the end of the developmental roadmap, which will feature a Shiba Inu blockchain, ShibaSwap and Doggy Dao. Few details have been released but it will likely also include support for a native stablecoin and smart contracts to make the platform attractive to external project developers.

What does the future look like for Shiba Inu?

A deflationary coin means tokens will be taken out of supply through token burns. We already saw that happen when Ryoshi sent $6 billion worth of SHIB to Ethereum co-founder Vitalik Buterin who burnt 90% of the SHIB tokens and sent the remaining to an Indian charity.

The burn effectively removed a huge amount of tokens in supply and perhaps this is how the creators plan to slash down the circulatory supply to reasonable levels further down the road. However, Ryoshi has not confirmed any planned token burns for Shiba Inu, which means the large supply is currently the biggest price gain inhibitor.

Shiba Inu’s latest developments have certainly elevated it from a memecoin to a promising cryptocurrency. While its future just got a lot brighter, there is still a lot of uncertainty regarding its price. It does not make sense to have such a high circulating supply over the long-term as that would make it less appealing to users, especially considering the founder’s long-term goals.

It is believed that Ryoshi is a close associate of Vitalik Buterin and while this has not been confirmed, it brings more credibility to the crypto project. There is clearly a unique plan in Shiba Inu’s strategy and one cannot help but wonder where the project will be in the next 5 or 10 years. It can only be classified as a huge gem if huge token burns will take place in the future, otherwise, goals such as reaching $1, $0.1 or even $0.01 are very farfetched. Its reverse approach might however be a sign of things to come.