Shiba Inu (SHIB)’s price has increased by as much as 4% today, rising to $0.00001003 at a time when the whole cryptocurrency market has barely moved over the last day.
The upcoming complete deployment of the Shibarium layer-two network will help to raise the meme token after a string of setbacks. SHIB is now up 16% in the last week and 33% in the past 30 days.
It’s probably just a matter of time before the altcoin experiences even more consistent growth, as Shibarium is anticipated to increase usage of SHIB and the development of the Shiba Inu ecosystem.
Shiba Inu Price Prediction as SHIB Spikes Up 4%
SHIB’s chart and indicators are currently in pretty good shape, and the meme token appears to be among the market’s most robust cryptocurrencies.
The coin’s relative strength index (purple) is advancing once more towards 70 after a rise and a drop last week, showing strong buying enthusiasm that hasn’t yet been exaggerated.
The 200-day moving average (blue) of SHIB is rising above the 30-day moving average (yellow), indicating that fresh purchasers are still driving the price of the token upward.
While it’s difficult to predict how much longer SHIB will remain strong, it’s reasonable to assume that it has settled around new, higher levels because its support level (green) has been steadily rising over the previous few weeks.
The long-awaited Shibarium layer-two network appears to be on the verge of a full release in the coming days or weeks, according to developer Shytoshi Kusama, who announced at the end of July that he and his team were “gearing up to launch” the platform.
In the prior weeks, this post and other comments and hints have contributed to increasing interest in SHIB, but more recent updates have raised anticipation even more.
Tweet – https://twitter.com/Shibtoken/status/1689608595350900737
The Impact of Shibarium Depends on Adoption
Shibarium’s influence is significantly influenced by the adoption rate it experiences. While improving the Shiba Inu ecosystem and attracting utility is its main objective, how many investors and builders adopt Shibarium will determine how long-term benefits on SHIB’s price will be felt. Increased adoption will result in more transactions being processed on the network, increasing utility and possibly supporting SHIB’s price.
Based on the remarkable adoption rate of its beta testnet, Puppynet, Shibarium’s future appears bright. The Crypto Basic recently published a report that stated Puppynet had exceeded 20 million transactions. Less than three months after its redeployment, the testnet hit this milestone.
According to data from Puppyscan, Puppynet has handled over 21.18 million transactions as of right now, with over 16.85 million wallets and 1.267 million blocks registered. Puppynet’s adoption rate is an indication of how successfully Shibarium may draw interest from the crypto community.
Shiba inu price prediction after shibarium launch
The layer-two network Shibarium is likely to increase use of Shiba Inu and adoption of SHIB, as developers yesterday stated that at least three key partnerships have been agreed upon in regard to Shibarium.
Shiba Inu may experience significant growth in the upcoming months when combined with the similarly soon-to-be-released Shibacals (NFT-based collectibles), particularly if SHIB: The Metaverse debuts near the end of the year.
In light of this, it is reasonable to expect Shiba inu price prediction to increase to $0.0000150 over the course of the next several months before maybe hitting $0.000020 or $0.000030 by December.