Token Shiba Inu (SHIB) &#273;ang g&#7863;p kh&oacute; kh&#259;n trong vi&#7879;c ph&#7909;c h&#7891;i gi&aacute;, m&#7897;t th&#7845;t b&#7841;i m&agrave; c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch cho r&#7857;ng do nh&#7919;ng th&aacute;ch th&#7913;c c&#7845;u tr&uacute;c c&#417; b&#7843;n h&#417;n l&agrave; s&#7921; bi&#7871;n &#273;&#7897;ng &#273;&#417;n thu&#7847;n c&#7911;a th&#7883; tr&#432;&#7901;ng.
&#272;&aacute;nh gi&aacute; n&agrave;y xu&#7845;t ph&aacute;t t&#7915; c&aacute;c ph&acirc;n t&iacute;ch m&#7899;i tuy&ecirc;n b&#7889; r&#7857;ng m&#7909;c ti&ecirc;u c&#7911;a SHIB &#273;&#7841;t m&#7913;c gi&aacute; 0.0001 USD l&agrave; m&#7897;t &ldquo;con &#273;&#432;&#7901;ng c&#7909;t&rdquo; do nh&#7919;ng thi&#7871;u s&oacute;t c&#7889;t l&otilde;i c&#7911;a token n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-the-structural-challenge-supply-overhang-vs-delayed-deflation">Th&aacute;ch th&#7913;c c&#7845;u tr&uacute;c: Cung v&#432;&#7907;t c&#7847;u so v&#7899;i gi&#7843;m ph&aacute;t tr&igrave; ho&atilde;n</h2>

Quan &#273;i&#7875;m kh&#7855;c nghi&#7879;t n&agrave;y &#273;&#432;&#7907;c nh&#7845;n m&#7841;nh b&#7903;i d&#7919; li&#7879;u on-chain l&#7841;nh l&ugrave;ng: T&#7893;ng gi&aacute; tr&#7883; kh&oacute;a (TVL) tr&ecirc;n gi&#7843;i ph&aacute;p layer-2 c&#7911;a n&oacute;, Shibarium, &#273;&atilde; gi&#7843;m v&agrave; duy tr&igrave; d&#432;&#7899;i 1 tri&#7879;u USD k&#7875; t&#7915; &#273;&#7847;u th&aacute;ng 10, cho th&#7845;y s&#7921; thi&#7871;u h&#7909;t nghi&ecirc;m tr&#7885;ng v&#7873; ti&#7879;n &iacute;ch v&agrave; s&#7921; ch&#7845;p nh&#7853;n c&#7911;a h&#7879; sinh th&aacute;i.
<img style="height:400px;width:640px;" decoding="async" alt="" class="wp-image-765634 lazy" loading="lazy" src="https://assets.beincrypto.com/img/ffoRyKexRtKfbGLDkxGqJCBF4RI=/smart/8dcc6dbf32db4194abb88f90d73a87ee">Shibarium TVL trong su&#7889;t n&#259;m 2025. Ngu&#7891;n:&nbsp;<a href="https://defillama.com/chain/shibarium" target="_blank" rel="noreferrer noopener">DeFiLlama</a>

SHIB &#273;&#7889;i m&#7863;t v&#7899;i xung &#273;&#7897;t c&#7889;t l&otilde;i: s&#7921; kh&ocirc;ng ph&ugrave; h&#7907;p gi&#7919;a ngu&#7891;n cung l&#432;u h&agrave;nh kh&#7893;ng l&#7891; v&agrave; t&#7889;c &#273;&#7897; ch&#7853;m c&#7911;a c&#417; ch&#7871; gi&#7843;m ph&aacute;t. H&#7879; sinh th&aacute;i SHIB &#273;&#432;&#7907;c thi&#7871;t k&#7871; &#273;&#7875; s&#7917; d&#7909;ng m&#7841;ng layer-2, Shibarium, &#273;&#7875; &#273;&#7889;t token v&agrave; gi&#7843;m t&#7893;ng cung kho&#7843;ng 589 ngh&igrave;n t&#7927; token.
Tuy nhi&ecirc;n, TVL th&#7845;p tr&ecirc;n <a href="https://vn.beincrypto.com/shibarium-halts-staking-after-flash-loan-attack/">Shibarium</a> v&#7851;n ti&#7871;p t&#7909;c. &#272;&acirc;y ch&#7881; l&agrave; m&#7897;t ph&#7847;n nh&#7887; c&#7911;a ti&#7873;m n&#259;ng l&yacute; thuy&#7871;t c&#7911;a m&#7841;ng. Do &#273;&oacute;, t&#7927; l&#7879; &#273;&#7889;t token ch&#7853;m h&#417;n nhi&#7873;u so v&#7899;i k&#7923; v&#7885;ng c&#7911;a th&#7883; tr&#432;&#7901;ng. S&#7921; tr&igrave; tr&#7879; n&agrave;y cho th&#7845;y r&#7857;ng c&aacute;c n&#7895; l&#7921;c ph&aacute;t tri&#7875;n ch&#432;a chuy&#7875;n th&agrave;nh ho&#7841;t &#273;&#7897;ng m&#7841;ng c&oacute; &yacute; ngh&#297;a ho&#7863;c s&#7921; ch&#7845;p nh&#7853;n c&#7911;a ng&#432;&#7901;i d&ugrave;ng.
V&#7899;i vi&#7879;c v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng c&#7911;a SHIB v&#7851;n &#7903; m&#7913;c h&agrave;ng t&#7927; USD, m&#7897;t TVL d&#432;&#7899;i 1 tri&#7879;u USD l&agrave; m&#7897;t ch&#7881; b&aacute;o r&otilde; r&agrave;ng r&#7857;ng c&aacute;c &#7913;ng d&#7909;ng phi t&#7853;p trung (dApps) v&agrave; ng&#432;&#7901;i d&ugrave;ng kh&ocirc;ng ch&#7845;p nh&#7853;n chu&#7895;i n&agrave;y &#7903; quy m&ocirc; c&#7847;n thi&#7871;t.
C&aacute;c nh&agrave; ph&acirc;n t&iacute;ch di&#7877;n gi&#7843;i th&#7845;t b&#7841;i k&#7929; thu&#7853;t n&agrave;y l&agrave; l&yacute; do c&#7845;u tr&uacute;c ch&iacute;nh. H&#7885; ng&agrave;y c&agrave;ng xem c&aacute;c m&#7909;c ti&ecirc;u gi&aacute; tham v&#7885;ng nh&#432; 0.0001 l&agrave; kh&ocirc;ng th&#7921;c t&#7871;. Quy m&ocirc; kh&#7893;ng l&#7891; c&#7911;a ngu&#7891;n cung token &#273;&ograve;i h&#7887;i m&#7897;t &aacute;p l&#7921;c gi&#7843;m ph&aacute;t l&#7899;n v&agrave; b&#7873;n v&#7919;ng m&agrave; h&#7879; sinh th&aacute;i hi&#7879;n t&#7841;i kh&ocirc;ng th&#7875; cung c&#7845;p.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-the-utility-deficit-and-capital-flight-to-ai-depin">Thi&#7871;u h&#7909;t ti&#7879;n &iacute;ch v&agrave; d&ograve;ng v&#7889;n chuy&#7875;n sang AI/DePIN</h2>

M&#7897;t y&#7871;u t&#7889; ph&#7909; nh&#432;ng quan tr&#7885;ng kh&aacute;c khi&#7871;n SHIB g&#7863;p kh&oacute; kh&#259;n l&agrave; s&#7921; lu&acirc;n chuy&#7875;n v&#7889;n li&ecirc;n t&#7909;c trong th&#7883; tr&#432;&#7901;ng crypto. V&#7889;n n&agrave;y &#273;ang chuy&#7875;n h&#432;&#7899;ng sang c&aacute;c l&#297;nh v&#7921;c cung c&#7845;p ti&#7879;n &iacute;ch th&#7921;c t&#7871;. Khi xu h&#432;&#7899;ng Web3 r&#7897;ng l&#7899;n h&#417;n chuy&#7875;n t&#7915; &ldquo;meme&rdquo; sang &ldquo;ti&#7879;n &iacute;ch&rdquo;, SHIB &#273;ang m&#7845;t d&#7847;n v&#7883; th&#7871; v&agrave;o tay c&aacute;c d&#7921; &aacute;n mang l&#7841;i gi&aacute; tr&#7883; th&#7921;c t&#7871;.
Trong n&#7917;a cu&#7889;i n&#259;m 2025, v&#7889;n &#273;&atilde; &#432;u ti&ecirc;n c&aacute;c l&#297;nh v&#7921;c nh&#432; t&iacute;nh to&aacute;n AI (v&iacute; d&#7909;: s&#7921; chuy&#7875;n h&#432;&#7899;ng c&#7911;a Bitfarms) v&agrave; DePIN, c&aacute;c d&#7921; &aacute;n t&#7841;o ra doanh thu t&#7915; d&#7919; li&#7879;u, t&iacute;nh to&aacute;n v&agrave; hi&#7879;u qu&#7843; doanh nghi&#7879;p. C&aacute;c token h&#432;&#7899;ng ti&#7879;n &iacute;ch n&agrave;y cung c&#7845;p c&aacute;c y&#7871;u t&#7889; c&#417; b&#7843;n r&otilde; r&agrave;ng ngo&agrave;i s&#7921; &#273;&#7847;u c&#417;.
Ng&#432;&#7907;c l&#7841;i, <a href="https://vn.beincrypto.com/ethereum-of-meme-coins-potential/" target="_blank" rel="noreferrer noopener">SHIB</a> g&#7863;p kh&oacute; kh&#259;n trong vi&#7879;c tho&aacute;t kh&#7887;i h&igrave;nh &#7843;nh &ldquo;meme coin&rdquo;. S&#7921; thi&#7871;u h&#7909;t TVL x&aacute;c nh&#7853;n r&#7857;ng Shibarium ch&#432;a t&igrave;m th&#7845;y m&#7897;t tr&#432;&#7901;ng h&#7907;p s&#7917; d&#7909;ng &#273;&#7897;c &#273;&aacute;o, h&#7845;p d&#7851;n. N&oacute; c&#7847;n &#273;i&#7873;u n&agrave;y &#273;&#7875; thu h&uacute;t c&aacute;c nh&agrave; ph&aacute;t tri&#7875;n v&agrave; ng&#432;&#7901;i d&ugrave;ng r&#7901;i kh&#7887;i c&aacute;c m&#7841;ng Layer-2 &#273;&atilde; &#273;&#432;&#7907;c thi&#7871;t l&#7853;p.
S&#7921; thi&#7871;u h&#7909;t ti&#7879;n &iacute;ch k&eacute;o d&agrave;i c&oacute; ngh&#297;a l&agrave; c&aacute;c nh&agrave; &#273;&#7847;u t&#432; l&#7899;n v&agrave; nh&agrave; &#273;&#7847;u t&#432; th&ocirc;ng minh ch&#7885;n r&uacute;t v&#7889;n kh&#7887;i SHIB v&agrave; chuy&#7875;n h&#432;&#7899;ng v&#7889;n sang c&aacute;c l&#297;nh v&#7921;c t&#259;ng tr&#432;&#7903;ng cao h&#417;n, t&#7853;p trung v&agrave;o ti&#7879;n &iacute;ch.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-community-resilience-and-the-competitive-landscape">S&#7921; ki&ecirc;n c&#432;&#7901;ng c&#7911;a c&#7897;ng &#273;&#7891;ng v&agrave; b&#7889;i c&#7843;nh c&#7841;nh tranh</h2>

M&#7863;c d&ugrave; c&oacute; nh&#7919;ng v&#7845;n &#273;&#7873; c&#7845;u tr&uacute;c d&agrave;i h&#7841;n, n&#7895; l&#7921;c c&#7911;a c&#7897;ng &#273;&#7891;ng cho th&#7845;y s&#7921; ki&ecirc;n c&#432;&#7901;ng. D&#7919; li&#7879;u c&ocirc;ng b&#7889; h&ocirc;m qua cho th&#7845;y l&#432;&#7907;ng &#273;&#7889;t token SHIB &#273;&atilde; t&#259;ng h&#417;n 42,000% trong 24 gi&#7901; qua, d&#7851;n &#273;&#7871;n m&#7897;t s&#7921; t&#259;ng gi&aacute; khi&ecirc;m t&#7889;n l&ecirc;n 0.00001062 USD.
S&#7921; chuy&#7875;n d&#7883;ch v&#7889;n kh&ocirc;ng ch&#7881; gi&#7899;i h&#7841;n &#7903; c&aacute;c token ti&#7879;n &iacute;ch; n&oacute; c&#361;ng nh&#7855;m &#273;&#7871;n c&aacute;c d&#7921; &aacute;n meme thay th&#7871; h&#7913;a h&#7865;n tokenomics m&#7841;nh m&#7869;. M&#7897;t nh&acirc;n v&#7853;t n&#7893;i b&#7853;t &#273;&atilde; l&#432;u &yacute; tr&ecirc;n X r&#7857;ng &ldquo;nh&#7919;ng ng&#432;&#7901;i th&ocirc;ng minh &#273;ang chuy&#7875;n sang Shib tr&ecirc;n Base,&rdquo; tr&iacute;ch d&#7851;n vi&#7879;c &#273;&#7889;t 32.6% ngu&#7891;n cung v&agrave; &ldquo;ti&#7879;n &iacute;ch do AI &#273;i&#7873;u khi&#7875;n&rdquo; l&agrave; nh&#7919;ng y&#7871;u t&#7889; ch&iacute;nh.
S&#7921; c&#7841;nh tranh t&iacute;ch c&#7921;c n&agrave;y cho th&#7845;y r&#7857;ng c&aacute;c nh&agrave; &#273;&#7847;u t&#432; hi&#7879;n &#273;ang t&iacute;ch c&#7921;c t&igrave;m ki&#7871;m c&aacute;c c&#417; ch&#7871; &#273;&#7889;t nhanh h&#417;n v&agrave; ti&#7879;n &iacute;ch c&oacute; th&#7875; x&aacute;c minh. &#272;i&#7873;u n&agrave;y bu&#7897;c d&#7921; &aacute;n SHIB g&#7889;c ph&#7843;i c&#7841;nh tranh v&#7899;i c&aacute;c token AI v&agrave; c&aacute;c m&ocirc; h&igrave;nh meme coin m&#7899;i, m&#7841;nh m&#7869; h&#417;n.
&#272;&#7875; SHIB duy tr&igrave; s&#7921; li&ecirc;n quan v&agrave; theo &#273;u&#7893;i s&#7921; ph&#7909;c h&#7891;i gi&aacute;, &#273;&#7897;i ng&#361; c&#7911;a n&oacute; ph&#7843;i kh&#7849;n tr&#432;&#417;ng ch&#7913;ng minh ti&#7879;n &iacute;ch &#273;o l&#432;&#7901;ng v&agrave; s&aacute;ng t&#7841;o. &#272;i&#7873;u n&agrave;y &#273;&ograve;i h&#7887;i nhi&#7873;u h&#417;n ch&#7881; l&agrave; s&#7921; c&#432;&#7901;ng &#273;i&#7879;u c&#7911;a c&#7897;ng &#273;&#7891;ng. Thay v&agrave;o &#273;&oacute;, n&oacute; &#273;&ograve;i h&#7887;i thu h&uacute;t thanh kho&#7843;n &#273;&aacute;ng k&#7875; v&agrave; s&#7921; tham gia c&#7911;a nh&agrave; ph&aacute;t tri&#7875;n v&agrave;o Shibarium. H&agrave;nh &#273;&#7897;ng n&agrave;y cu&#7889;i c&ugrave;ng ch&#7913;ng minh r&#7857;ng token ho&#7841;t &#273;&#7897;ng nh&#432; m&#7897;t ph&#7847;n quan tr&#7885;ng c&#7911;a c&#417; s&#7903; h&#7841; t&#7847;ng Web3.
S&#7921; ph&#7909;c h&#7891;i c&#7911;a TVL c&#7911;a Shibarium l&agrave; t&iacute;n hi&#7879;u &#273;&#7847;u ti&ecirc;n c&#7847;n thi&#7871;t &#273;&#7875; SHIB c&oacute; th&#7875; tho&aacute;t kh&#7887;i nh&#7919;ng h&#7841;n ch&#7871; c&#7845;u tr&uacute;c c&#7911;a m&igrave;nh.

Thiếu hụt tiện ích của SHIB: Shibarium TVL phơi bày nhược điểm cấu trúc

Token Shiba Inu (SHIB) &#273;ang g&#7863;p kh&oacute; kh&#259;n trong vi&#7879;c ph&#7909;c h&#7891;i gi&aacute;, m&#7897;t th&#7845;t b&#7841;i m&agrave; c&aacute;c nh&agrave; ph&acirc;n t&iacute;ch cho r&#7857;ng do nh&#7919;ng th&aacute;ch th&#7913;c c&#7845;u tr&uacute;c c&#417; b&#7843;n h&#417;n l&agrave; s&#7921; bi&#7871;n &#273;&#7897;ng &#273;&#417;n thu&#7847;n c&#7911;a th&#7883; tr&#432;&#7901;ng.
&#272;&aacute;nh gi&aacute; n&agrave;y xu&#7845;t ph&aacute;t t&#7915; c&aacute;c ph&acirc;n t&iacute;ch m&#7899;i tuy&ecirc;n b&#7889; r&#7857;ng m&#7909;c ti&ecirc;u c&#7911;a SHIB &#273;&#7841;t m&#7913;c gi&aacute; 0.0001 USD l&agrave; m&#7897;t &ldquo;con &#273;&#432;&#7901;ng c&#7909;t&rdquo; do nh&#7919;ng thi&#7871;u s&oacute;t c&#7889;t l&otilde;i c&#7911;a token n&agrave;y.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-the-structural-challenge-supply-overhang-vs-delayed-deflation">Th&aacute;ch th&#7913;c c&#7845;u tr&uacute;c: Cung v&#432;&#7907;t c&#7847;u so v&#7899;i gi&#7843;m ph&aacute;t tr&igrave; ho&atilde;n</h2>

Quan &#273;i&#7875;m kh&#7855;c nghi&#7879;t n&agrave;y &#273;&#432;&#7907;c nh&#7845;n m&#7841;nh b&#7903;i d&#7919; li&#7879;u on-chain l&#7841;nh l&ugrave;ng: T&#7893;ng gi&aacute; tr&#7883; kh&oacute;a (TVL) tr&ecirc;n gi&#7843;i ph&aacute;p layer-2 c&#7911;a n&oacute;, Shibarium, &#273;&atilde; gi&#7843;m v&agrave; duy tr&igrave; d&#432;&#7899;i 1 tri&#7879;u USD k&#7875; t&#7915; &#273;&#7847;u th&aacute;ng 10, cho th&#7845;y s&#7921; thi&#7871;u h&#7909;t nghi&ecirc;m tr&#7885;ng v&#7873; ti&#7879;n &iacute;ch v&agrave; s&#7921; ch&#7845;p nh&#7853;n c&#7911;a h&#7879; sinh th&aacute;i.
<img style="height:400px;width:640px;"decoding="async" alt="" class="wp-image-765634 lazy" loading="lazy" src="https://assets.beincrypto.com/img/ffoRyKexRtKfbGLDkxGqJCBF4RI=/smart/8dcc6dbf32db4194abb88f90d73a87ee">Shibarium TVL trong su&#7889;t n&#259;m 2025. Ngu&#7891;n:&nbsp;<a href="https://defillama.com/chain/shibarium" target="_blank" rel="noreferrer noopener">DeFiLlama</a>

SHIB &#273;&#7889;i m&#7863;t v&#7899;i xung &#273;&#7897;t c&#7889;t l&otilde;i: s&#7921; kh&ocirc;ng ph&ugrave; h&#7907;p gi&#7919;a ngu&#7891;n cung l&#432;u h&agrave;nh kh&#7893;ng l&#7891; v&agrave; t&#7889;c &#273;&#7897; ch&#7853;m c&#7911;a c&#417; ch&#7871; gi&#7843;m ph&aacute;t. H&#7879; sinh th&aacute;i SHIB &#273;&#432;&#7907;c thi&#7871;t k&#7871; &#273;&#7875; s&#7917; d&#7909;ng m&#7841;ng layer-2, Shibarium, &#273;&#7875; &#273;&#7889;t token v&agrave; gi&#7843;m t&#7893;ng cung kho&#7843;ng 589 ngh&igrave;n t&#7927; token.
Tuy nhi&ecirc;n, TVL th&#7845;p tr&ecirc;n <a href="https://vn.beincrypto.com/shibarium-halts-staking-after-flash-loan-attack/">Shibarium</a> v&#7851;n ti&#7871;p t&#7909;c. &#272;&acirc;y ch&#7881; l&agrave; m&#7897;t ph&#7847;n nh&#7887; c&#7911;a ti&#7873;m n&#259;ng l&yacute; thuy&#7871;t c&#7911;a m&#7841;ng. Do &#273;&oacute;, t&#7927; l&#7879; &#273;&#7889;t token ch&#7853;m h&#417;n nhi&#7873;u so v&#7899;i k&#7923; v&#7885;ng c&#7911;a th&#7883; tr&#432;&#7901;ng. S&#7921; tr&igrave; tr&#7879; n&agrave;y cho th&#7845;y r&#7857;ng c&aacute;c n&#7895; l&#7921;c ph&aacute;t tri&#7875;n ch&#432;a chuy&#7875;n th&agrave;nh ho&#7841;t &#273;&#7897;ng m&#7841;ng c&oacute; &yacute; ngh&#297;a ho&#7863;c s&#7921; ch&#7845;p nh&#7853;n c&#7911;a ng&#432;&#7901;i d&ugrave;ng.
V&#7899;i vi&#7879;c v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng c&#7911;a SHIB v&#7851;n &#7903; m&#7913;c h&agrave;ng t&#7927; USD, m&#7897;t TVL d&#432;&#7899;i 1 tri&#7879;u USD l&agrave; m&#7897;t ch&#7881; b&aacute;o r&otilde; r&agrave;ng r&#7857;ng c&aacute;c &#7913;ng d&#7909;ng phi t&#7853;p trung (dApps) v&agrave; ng&#432;&#7901;i d&ugrave;ng kh&ocirc;ng ch&#7845;p nh&#7853;n chu&#7895;i n&agrave;y &#7903; quy m&ocirc; c&#7847;n thi&#7871;t.
C&aacute;c nh&agrave; ph&acirc;n t&iacute;ch di&#7877;n gi&#7843;i th&#7845;t b&#7841;i k&#7929; thu&#7853;t n&agrave;y l&agrave; l&yacute; do c&#7845;u tr&uacute;c ch&iacute;nh. H&#7885; ng&agrave;y c&agrave;ng xem c&aacute;c m&#7909;c ti&ecirc;u gi&aacute; tham v&#7885;ng nh&#432; 0.0001 l&agrave; kh&ocirc;ng th&#7921;c t&#7871;. Quy m&ocirc; kh&#7893;ng l&#7891; c&#7911;a ngu&#7891;n cung token &#273;&ograve;i h&#7887;i m&#7897;t &aacute;p l&#7921;c gi&#7843;m ph&aacute;t l&#7899;n v&agrave; b&#7873;n v&#7919;ng m&agrave; h&#7879; sinh th&aacute;i hi&#7879;n t&#7841;i kh&ocirc;ng th&#7875; cung c&#7845;p.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-the-utility-deficit-and-capital-flight-to-ai-depin">Thi&#7871;u h&#7909;t ti&#7879;n &iacute;ch v&agrave; d&ograve;ng v&#7889;n chuy&#7875;n sang AI/DePIN</h2>

M&#7897;t y&#7871;u t&#7889; ph&#7909; nh&#432;ng quan tr&#7885;ng kh&aacute;c khi&#7871;n SHIB g&#7863;p kh&oacute; kh&#259;n l&agrave; s&#7921; lu&acirc;n chuy&#7875;n v&#7889;n li&ecirc;n t&#7909;c trong th&#7883; tr&#432;&#7901;ng crypto. V&#7889;n n&agrave;y &#273;ang chuy&#7875;n h&#432;&#7899;ng sang c&aacute;c l&#297;nh v&#7921;c cung c&#7845;p ti&#7879;n &iacute;ch th&#7921;c t&#7871;. Khi xu h&#432;&#7899;ng Web3 r&#7897;ng l&#7899;n h&#417;n chuy&#7875;n t&#7915; &ldquo;meme&rdquo; sang &ldquo;ti&#7879;n &iacute;ch&rdquo;, SHIB &#273;ang m&#7845;t d&#7847;n v&#7883; th&#7871; v&agrave;o tay c&aacute;c d&#7921; &aacute;n mang l&#7841;i gi&aacute; tr&#7883; th&#7921;c t&#7871;.
Trong n&#7917;a cu&#7889;i n&#259;m 2025, v&#7889;n &#273;&atilde; &#432;u ti&ecirc;n c&aacute;c l&#297;nh v&#7921;c nh&#432; t&iacute;nh to&aacute;n AI (v&iacute; d&#7909;: s&#7921; chuy&#7875;n h&#432;&#7899;ng c&#7911;a Bitfarms) v&agrave; DePIN, c&aacute;c d&#7921; &aacute;n t&#7841;o ra doanh thu t&#7915; d&#7919; li&#7879;u, t&iacute;nh to&aacute;n v&agrave; hi&#7879;u qu&#7843; doanh nghi&#7879;p. C&aacute;c token h&#432;&#7899;ng ti&#7879;n &iacute;ch n&agrave;y cung c&#7845;p c&aacute;c y&#7871;u t&#7889; c&#417; b&#7843;n r&otilde; r&agrave;ng ngo&agrave;i s&#7921; &#273;&#7847;u c&#417;.
Ng&#432;&#7907;c l&#7841;i, <a href="https://vn.beincrypto.com/ethereum-of-meme-coins-potential/" target="_blank" rel="noreferrer noopener">SHIB</a> g&#7863;p kh&oacute; kh&#259;n trong vi&#7879;c tho&aacute;t kh&#7887;i h&igrave;nh &#7843;nh &ldquo;meme coin&rdquo;. S&#7921; thi&#7871;u h&#7909;t TVL x&aacute;c nh&#7853;n r&#7857;ng Shibarium ch&#432;a t&igrave;m th&#7845;y m&#7897;t tr&#432;&#7901;ng h&#7907;p s&#7917; d&#7909;ng &#273;&#7897;c &#273;&aacute;o, h&#7845;p d&#7851;n. N&oacute; c&#7847;n &#273;i&#7873;u n&agrave;y &#273;&#7875; thu h&uacute;t c&aacute;c nh&agrave; ph&aacute;t tri&#7875;n v&agrave; ng&#432;&#7901;i d&ugrave;ng r&#7901;i kh&#7887;i c&aacute;c m&#7841;ng Layer-2 &#273;&atilde; &#273;&#432;&#7907;c thi&#7871;t l&#7853;p.
S&#7921; thi&#7871;u h&#7909;t ti&#7879;n &iacute;ch k&eacute;o d&agrave;i c&oacute; ngh&#297;a l&agrave; c&aacute;c nh&agrave; &#273;&#7847;u t&#432; l&#7899;n v&agrave; nh&agrave; &#273;&#7847;u t&#432; th&ocirc;ng minh ch&#7885;n r&uacute;t v&#7889;n kh&#7887;i SHIB v&agrave; chuy&#7875;n h&#432;&#7899;ng v&#7889;n sang c&aacute;c l&#297;nh v&#7921;c t&#259;ng tr&#432;&#7903;ng cao h&#417;n, t&#7853;p trung v&agrave;o ti&#7879;n &iacute;ch.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-community-resilience-and-the-competitive-landscape">S&#7921; ki&ecirc;n c&#432;&#7901;ng c&#7911;a c&#7897;ng &#273;&#7891;ng v&agrave; b&#7889;i c&#7843;nh c&#7841;nh tranh</h2>

M&#7863;c d&ugrave; c&oacute; nh&#7919;ng v&#7845;n &#273;&#7873; c&#7845;u tr&uacute;c d&agrave;i h&#7841;n, n&#7895; l&#7921;c c&#7911;a c&#7897;ng &#273;&#7891;ng cho th&#7845;y s&#7921; ki&ecirc;n c&#432;&#7901;ng. D&#7919; li&#7879;u c&ocirc;ng b&#7889; h&ocirc;m qua cho th&#7845;y l&#432;&#7907;ng &#273;&#7889;t token SHIB &#273;&atilde; t&#259;ng h&#417;n 42,000% trong 24 gi&#7901; qua, d&#7851;n &#273;&#7871;n m&#7897;t s&#7921; t&#259;ng gi&aacute; khi&ecirc;m t&#7889;n l&ecirc;n 0.00001062 USD.
S&#7921; chuy&#7875;n d&#7883;ch v&#7889;n kh&ocirc;ng ch&#7881; gi&#7899;i h&#7841;n &#7903; c&aacute;c token ti&#7879;n &iacute;ch; n&oacute; c&#361;ng nh&#7855;m &#273;&#7871;n c&aacute;c d&#7921; &aacute;n meme thay th&#7871; h&#7913;a h&#7865;n tokenomics m&#7841;nh m&#7869;. M&#7897;t nh&acirc;n v&#7853;t n&#7893;i b&#7853;t &#273;&atilde; l&#432;u &yacute; tr&ecirc;n X r&#7857;ng &ldquo;nh&#7919;ng ng&#432;&#7901;i th&ocirc;ng minh &#273;ang chuy&#7875;n sang Shib tr&ecirc;n Base,&rdquo; tr&iacute;ch d&#7851;n vi&#7879;c &#273;&#7889;t 32.6% ngu&#7891;n cung v&agrave; &ldquo;ti&#7879;n &iacute;ch do AI &#273;i&#7873;u khi&#7875;n&rdquo; l&agrave; nh&#7919;ng y&#7871;u t&#7889; ch&iacute;nh.
S&#7921; c&#7841;nh tranh t&iacute;ch c&#7921;c n&agrave;y cho th&#7845;y r&#7857;ng c&aacute;c nh&agrave; &#273;&#7847;u t&#432; hi&#7879;n &#273;ang t&iacute;ch c&#7921;c t&igrave;m ki&#7871;m c&aacute;c c&#417; ch&#7871; &#273;&#7889;t nhanh h&#417;n v&agrave; ti&#7879;n &iacute;ch c&oacute; th&#7875; x&aacute;c minh. &#272;i&#7873;u n&agrave;y bu&#7897;c d&#7921; &aacute;n SHIB g&#7889;c ph&#7843;i c&#7841;nh tranh v&#7899;i c&aacute;c token AI v&agrave; c&aacute;c m&ocirc; h&igrave;nh meme coin m&#7899;i, m&#7841;nh m&#7869; h&#417;n.
&#272;&#7875; SHIB duy tr&igrave; s&#7921; li&ecirc;n quan v&agrave; theo &#273;u&#7893;i s&#7921; ph&#7909;c h&#7891;i gi&aacute;, &#273;&#7897;i ng&#361; c&#7911;a n&oacute; ph&#7843;i kh&#7849;n tr&#432;&#417;ng ch&#7913;ng minh ti&#7879;n &iacute;ch &#273;o l&#432;&#7901;ng v&agrave; s&aacute;ng t&#7841;o. &#272;i&#7873;u n&agrave;y &#273;&ograve;i h&#7887;i nhi&#7873;u h&#417;n ch&#7881; l&agrave; s&#7921; c&#432;&#7901;ng &#273;i&#7879;u c&#7911;a c&#7897;ng &#273;&#7891;ng. Thay v&agrave;o &#273;&oacute;, n&oacute; &#273;&ograve;i h&#7887;i thu h&uacute;t thanh kho&#7843;n &#273;&aacute;ng k&#7875; v&agrave; s&#7921; tham gia c&#7911;a nh&agrave; ph&aacute;t tri&#7875;n v&agrave;o Shibarium. H&agrave;nh &#273;&#7897;ng n&agrave;y cu&#7889;i c&ugrave;ng ch&#7913;ng minh r&#7857;ng token ho&#7841;t &#273;&#7897;ng nh&#432; m&#7897;t ph&#7847;n quan tr&#7885;ng c&#7911;a c&#417; s&#7903; h&#7841; t&#7847;ng Web3.
S&#7921; ph&#7909;c h&#7891;i c&#7911;a TVL c&#7911;a Shibarium l&agrave; t&iacute;n hi&#7879;u &#273;&#7847;u ti&ecirc;n c&#7847;n thi&#7871;t &#273;&#7875; SHIB c&oacute; th&#7875; tho&aacute;t kh&#7887;i nh&#7919;ng h&#7841;n ch&#7871; c&#7845;u tr&uacute;c c&#7911;a m&igrave;nh.