Shiba Inu price prediction after Shibarium launch: Will Shiba Inu Price rise 60%?
Shiba Inu price prediction after Shibarium launch using valuation and performance data of other eth layer-1 blockchains
Shibarium is expected to be launched anytime this week. Why is Shibarium so important?
The aim of Shibarium is to provide a powerful and scalable solution for DeFi, Metaverse, Gaming, and Web3 innovation so as to ensure the widespread use of Shiba Inu Token. Just like every other Ethereum Layer-2 Solution, Shibarium can facilitate
- Faster and cheaper transactions
- Improving the user experience for small transactions.
Most DeFi, Gaming and NFT apps that are on the Ethereum Blockchain will be available on Shibarium after launch.
BONE is the native token used to pay for gas transactions and rewards Validators and Delegators within the Shibarium protocol. Every transaction on Shibarium will burn a certain number of Shiba Inu tokens from circulation.
Shiba Inu price prediction after Shibarium launch: Latest News
Shibarium is a layer 2 blockchain solution for Shiba Inu. It aims to increase transaction speed and lower costs in the Shiba Inu ecosystem. Shibarium has been a highly anticipated launch by the Shiba Inu developers. The Shiba Inu traders are waiting for the launch of Shibarium anxiously and hoping that Shibarium would be the much-needed catalyst that could help the price of Shiba Inu skyrocket.
Some of the latest news regarding Shibarium are:
Bone ShibaSwap’s official Twitter account has announced that hundreds of projects are set to use BONE tokens as gas on the upcoming Layer 2 protocol for Shiba Inu, Shibarium. BONE will be converted to SHIB and burned as part of transaction fees on the network. The lead developer for SHIB, known as Shytoshi Kusama, previously stated that 50 projects had ceased communication with him about building on Shibarium after he laid out the network’s principles.
How is Shibarium Likely to be different from other Ethereum Layer-2 Blockchains?
The biggest difference is that Shibarium (via Shiba Inu) will begin with very high name recognition in the United States for example. Second, Shiba Inu easily leads the other layer-2 tokens on Community strength.
How have other Ethereum Layer-2 Tokens performed in the last 12 months?
- Matic: -19.8%
- Immutable X: -37.5%
- Loopring: -53.7%
- OMG: -57.4%
- Skale: -62.9%
Except for Matic and IMX, the rest of the Layer-2 Tokens are either on par or underperformed Shiba Inu.
How is Shiba Inu better than Matic?
There are two main advantages of Shiba Inu compared to Matic
- Shiba Inu is a far more popular coin than Matic. Given its unit values, Shib Ownership is more widespread (1.2 Million addresses) than Matic (0.58 Million addresses). So any upgrade to Layer-2 should push Shiba Inu Market Cap closer to Matic (Matic is currently 60% higher on Market cap)
- Shiba Inu community is one of the most active communities on social media which gives any new services or product launches massive support. A layer-2 could help this process further.
Shiba Inu price prediction after Shibarium launch
- Shiba Inu’s Market Cap is unlikely to cross that of Polygon Matic. So the max that Shiba Inu Price will rise is $0.0000198.
- Shiba Inu’s Market Cap will certainly breach Polkadot (because of being on Ethereum and with a huge market cap) which means that Shiba Inu Price will rise by at least $0.0000138
- However, given Solana’s security issues in the last 12 months, Shiba Inu may rise just above Solana’s Market Cap. This translates to a price of $0.0000155
To Summarize, after Shibarium’s launch date is announced, here are 3 scenarios
- Max Shiba Inu Price: $0.0000198
- Minimum Shiba Inu Price: $0.0000138
- Most likely Shiba Inu Price: $0.0000155
This is of course a more theoretical way of forecasting the price but perhaps a logical one. In reality, a lot of the pump will also depend on Macro variables playing out at that time. So what do you feel?
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.