First was the ERC-20 token-meme, built on Ethereum (ETH), Shiba Inu (SHIB) only focused on surpassing Dogecoin (DOGE) in market cap.
With the upcoming launch of the second level of the Shibarium network, this goal may soon be achieved.
According to Coin Perspective's analysis, if Shiba Inu had a Dogecoin market cap of $10,6 billion, 1 SHIB would be worth $0,000011, a potential upside of 45% from the current price. This forecast is based on SHIB's total market capitalization of $10,2 billion. The full market cap is the current price of SHIB multiplied by the maximum amount of Shiba Inu tokens (1000 trillion SHIB). It provides a more accurate price prediction than using an indicator of the amount of tokens in circulation (589,3 trillion SHIB).
Thanks to the rapid growth of the Shiba Inu community, the project has attracted the attention of investors, developers and users, reaching the 15th place in market capitalization according to the Finbold index.
With faster and cheaper Level Two (L2) transactions, Shibarium will compete with other L2s in the ecosystem Ethereum such as Arbitrum (ARB), Optimism (OP) and Base (by Coinbase). Shibarium will have its own decentralized exchange (DEX), metanet and blockchain games such as Shiba Eternity. The developer of the Shiba Inu ecosystem, known under the pseudonym Shitoshi Kusama, announced that Shibarium will be launched after the Blockchain Futurist Conference in Toronto, which takes place on August 15-16, 2023. According to information from the Shiba Archives and a statement from project representatives, the launch of Shibarium is expected in the next two weeks.
Overall, Shibarium can have a significant impact on the price of Shiba Inu, although the strength of this effect will also depend on the overall sentiment of the cryptocurrency market, increased interest in the token, and other events or positive news related to the SHIB ecosystem.
