Shiba Inu could boost its chances of reclaiming the previous all-time high of $0.00008845 with the help of Shibarium, but the extent of this support remains unclear.
Shiba Inu (SHIB) is one of the most popular assets in the crypto market. However, SHIB has struggled to regain momentum after dropping from the all-time high (ATH) of $0.00008845 in October 2021. SHIB is down over 90% from its peak at the time of writing.
Ecosystem developments such as Shibarium have triggered a renewal of optimism. Proponents suggest the Shibarium launch could boost Shiba Inu’s chances of reclaiming its ATH. Nonetheless, the primary objective of Shibarium is to improve the scalability and speed in the Shiba Inu ecosystem.
How Shibarium Will Benefit Shiba Inu
As the layer-2 scaling solution for the Shiba Inu ecosystem, Shibarium aims to introduce several benefits. These include:
Lower Transaction Fees
Shibarium will reduce the gas fees for SHIB transactions, making it more affordable and accessible for users. This will also encourage more activity and adoption of SHIB and other tokens in the ecosystem.
Shiba Inu Burn Mechanism
Shibarium will introduce a mechanism that will burn a portion of SHIB tokens for every transaction on its network. This will reduce the supply of SHIB over time, creating a deflationary effect that could increase its value and scarcity.
Faster Transactions
Shibarium seeks to increase the speed and throughput of SHIB transactions, making them more efficient and convenient for users.
Better performance
One of Shibarium’s goals is to enhance the performance and reliability of SHIB transactions, reducing the risk of errors and delays. This feature will also improve the user experience and satisfaction of SHIB holders.
Shiba Inu Ecosystem Development
Shibarium will enable developers to create decentralized applications (DApps) for the Shiba Inu ecosystem, such as games, NFTs, metaverse, and more. This will expand the utility and diversity of SHIB and other tokens in the ecosystem.
How Shibarium Will Impact Shiba Inu Price
Shibarium is not a pump-and-dump catalyst for Shiba Inu, as its primary objectives go beyond artificially pumping SHIB’s price. However, Shibarium is expected to positively impact the price of SHIB, as it will address some of the main challenges and limitations holding back its growth.
By improving the scalability, speed, cost, and performance of SHIB transactions, Shibarium will make SHIB more attractive and competitive in the crypto market.
Moreover, introducing a burn mechanism will help reduce the supply of SHIB over time. This trend will create deflationary pressure that could boost its value and demand. Additionally, Shibarium will increase the utility and diversity of SHIB and other ecosystem tokens through dApp development.
All these factors could help Shiba Inu regain its momentum and reclaim its all-time high price in the near future. However, this is not a guarantee. Shiba Inu is changing hands at $0.000007790 as of press time. To reclaim its ATH of $0.00008845, SHIB must rally by 1,035%.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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