The Shiba Inu(SHIB) ecosystem, a popular meme coin project, is setting its sights on a future fueled by Shibarium, its very own Layer-2 blockchain solution. Experts like Casey Stubbs, founder of Trading Strategy Guides, believe Shibarium has the potential to become the backbone of a thriving Shiba Inu world, driving massive adoption.
Stubbs envisions a scenario where Shibarium facilitates a vast network of trading pairs for Shiba Inu’s core token (SHIB) and Bone ShibaSwap (BONE), generating billions of dollars in daily trading volume.
This optimistic outlook paints a picture where both SHIB and BONE could reach a market capitalization of a staggering $1 trillion each. However, it’s crucial to recognize that this is a hypothetical future predicated on significant network adoption, something Shibarium is currently struggling with.
Since its launch in June 2024, Shibarium has witnessed a concerning drop in daily transactions, averaging a meager 10,000. This pales in comparison to December 2023, where daily transactions soared between 5 million and 7.5 million. In fact, Shibarium has only processed a total of 17.72 million transactions since March 7, 2024.
Despite the current lull, figures like Stubbs and Shibarium moderator SpecialK remain optimistic. SpecialK highlights Shibarium’s potential to disrupt the crypto space, urging investors to brace themselves for a transformative journey for Shiba Inu.
A flourishing Shibarium ecosystem, as envisioned by Stubbs, could undoubtedly trigger a price surge for SHIB and BONE. Currently, both tokens are a far cry from the projected $1 trillion market cap. SHIB trades at $0.00001934 with a market cap of around $11 billion, while BONE sits at $0.52 with a market valuation of roughly $120 million.
Reaching a $1 trillion market cap would significantly alter the price points of these tokens. If SHIB’s circulating supply remains constant at 589.27 trillion, the token’s price could theoretically reach $0.016. Similarly, BONE’s price could surpass $4,300 if its market cap hits $1 trillion.
It’s paramount to remember that Stubbs’ projections are based on a hypothetical scenario of widespread Shibarium adoption. The substantial increase in daily transactions and trading volume envisioned by Stubbs would necessitate a drastic reversal of current trends.
The success of Shibarium ultimately hinges on its ability to attract users and developers. Cultivating a robust and user-friendly ecosystem will be paramount in achieving widespread adoption. As the project unfolds, close observation of Shibarium’s development and user base growth will be essential in gauging its long-term viability.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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