Shibarium

Here is how Shibarium Launch can change the fate of Shiba Inu

With the Shibarium mainnet debut just around the corner, the Shiba Inu community's excitement is growing. Investors are wondering how the layer-2 network would impact SHIB's price movement as they anticipate the imminent addition to the Shiba Inu ecosystem.

Shibarium’s Goal for Shiba Inu

It is critical to emphasise that Shibarium's primary goal is not to artificially raise Shiba Inu prices. Instead, the initiative intends to improve the SHIB ecosystem by tackling critical areas such as fee reduction, transaction speed improvement, and utility introduction. These advancements are projected to raise demand for Shiba Inu, maybe resulting in a price hike.

Shibarium is also attempting to solve the issue of SHIB's abundant circulating supply. The L2 network intends to burn SHIB tokens, using up to 70% of transaction base fees. These measures may lead to a price increase by limiting the supply of SHIB and perhaps raising demand.

Last year, Finder polled 55 FinTech industry professionals to learn how Shibarium may affect the price of SHIB. 50% of these experts were unsure, while 25% anticipated Shibarium would boost the price of Shiba Inu.

Only 3% of the professionals predicted a negative impact from the network, while the remaining 22% predicted no effect.

Impact Of Shibarium Depends on Its Adoption

Last year, Finder polled 55 FinTech industry professionals to learn how Shibarium may affect the price of SHIB. 50% of these experts were unsure, while 25% anticipated Shibarium would boost the price of Shiba Inu.

Only 3% of the professionals predicted a negative impact from the network, while the remaining 22% predicted no effect.

Shibarium's future is bright based on the excellent adoption rate of its beta testnet, Puppynet. According to a recent post by The Crypto Basic, Puppynet has achieved 20 million transactions. This milestone was reached less than three months after the testnet was redeployed.

According to data from Puppyscan, Puppynet has handled over 25.18 million transactions as of right now, with over 19.85 million wallets and 5.267 million blocks registered. Puppynet's adoption rate is an indication of how successfully Shibarium may draw interest from the crypto community.

It is important to note that these predictions are theoretical since the acceptance of Shibarium might differ from what is anticipated. A member of the Shiba Inu marketing team named Lucie forecasted a potential release date between Q2 and Q3 2024 while the community waits impatiently for its arrival. She did point out that this was not guaranteed.

Shibarium is probably going to help Shiba Inu's price movement, but how much assistance is yet unknown. If Shibarium achieves a remarkable adoption rate during the following bull market, SHIB could have a chance to recoup its all-time high value. SHIB is now up 0.59% over the last 24 hours, trading at US$0.00000699.