The Shiba Inu community is experiencing a wave of mixed emotions. On the other hand: the long-awaited Shibarium, The project’s layer 2 blockchain is gaining traction with significant token transfers and an increase in transaction volume. However, the price of SHIB itself remains stubbornly stagnant, leaving some “Shiba Millionaires” out in the cold.
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Shibarium is blazing a trail, but could it cause a price increase?
The move of 35 billion SHIB tokens to Shibarium marks a crucial step for the Shiba Inu ecosystem. This dedicated network promises faster transactions, lower fees, and a more robust infrastructure for developers and users. This development could be a game-changer, attracting new projects and promoting innovation within the Shiba Inu universe.
35,000,000,000 #SHIB on @ShibariumNet ! Home sweet home where Shiba Inu belong. Weft pic.twitter.com/OuahXQokv1
— The Bus (@TheBus37643251) June 27, 2024
We are witnessing that the community put its trust in Shibarium. The hope is that a strong Shibarium ecosystem will eventually translate into greater demand for it SHIB, drive the price up.
However, the road to price recovery may not be easy. SHIB has been stuck in a rut lately, hovering around $0.000017. This stagnant price, coupled with a recent market decline, has led to a significant decline in the number of Shiba Inu millionaires. Data shows a drop in over 300 addresses holding over a million SHIB tokens, suggesting some investors may be losing confidence.
Shiba Eternity to the rescue? New products on the horizon
Shiba Inu doesn’t sit still. The upcoming issue of Shiba eternity, a collectible card game featuring the adorable Shiba dog mascot, has brought a dose of optimism to the community. The game’s potential to attract new users and generate revenue could be a much-needed boost for SHIB.
Shiba Eternity is a great way to engage the community and potentially attract new investors, some analysts say. The game’s success could be a turning point for SHIB.
In addition to Shiba Eternity, the Shiba Inu team has a busy route map planned. The launch of ShibaHub, a social media platform and Shibaswap, a decentralized exchange, are just around the corner.
Additionally, the development of a layer 3 testnet paves the way for further expansion and innovation within the Shiba Inu ecosystem.
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A look ahead: will the future be Gamecock?
The future of Shiba Inu remains uncertain. While Shibarium’s progress and upcoming projects provide reasons for optimism, stagnant prices and the dwindling number of millionaires raise concerns.
Price forecasts pointing to a 60% increase by July 2 offer a glimmer of hope, but the accuracy of such forecasts is questionable.
Featured image of Trusted House Sitters, chart from TradingView