Shibarium’s launch was fairly rocky owing to the alleged bridge issues. However, the lead developer of the protocol, Shytoshi Kusama, dispelled all fears and confirmed that the bridge was functioning without any problems. Furthermore, he reassured investors that all their investments were secure. In another update shared today, he highlighted that the network achieved a “ready” state after undergoing additional tests. Consequently, Shibarium is “almost” ready to reopen to the public.
In fact, the community interest associated with Shibarium has also significantly improved over the past few days. Data available on Google Trends at press time pointed out that the search volume for this particular keyword attained a new peak this week.
Also Read: Shiba Inu: How Much Did SHIB Rise from 2021 to 2023?
Shiba Inu: The Price Front
Experts and analysts have made several predictions lately suggesting how the Shibarium launch will impact the price of the asset. Jonathan Merry, CEO of Moneyzine.com, recently claimed that if Shibarium is extremely successful and becomes a “global sensation,” SHIB might have a “better chance” of attaining new highs. So, in this article, we will analyze if SHIB can script history by deleting three zeros within a year.
The recent flash crash dented market sentiment and ended up pushing down the price of Shiba Inu. At press time, Siba Inu was seen exchanging hands at $0.000007978. To attain $0.001 at this stage, SHIB will have to pull off a 12,434.47% rally.
Several bullish predictions revolve around the ‘burning’ factor. The new burn mechanism is expected to help add bullish pressure to SHIB’s price. Shiba Inu-focused Twitter handle “SHIB Bezos” recently revealed that the project’s layer-2 network, Shibarium, will burn 5 trillion tokens every month. However, Shibarium has yet to burn SHIB tokens, and the details about its burn capacity are not known yet. The zero deletions could largely be impacted based on the scale of the burns carried out.
According to other predictions as well, SHIB’s rise over the next year will not be very significant. DigitalCoinPrice expected SHIB to top $0.0000223 by 2024. That is only a 179.5% pump from the current levels. Thus, investors will have to exercise patience and wait for SHIB to gradually move forward.
Also Read: Shiba Inu: 2 Ways SHIB Could Reach $0.01
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