With the highly anticipated Shibarium launch fast approaching, several questions are beginning to spring up among Shiba Inu (SHIB) investors.
A recurring question is: “Will Shibarium’s launch pave the way for a repeat of the Shiba Inu phenomenon that took the cryptocurrency world by storm in 2021?”
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The Shiba Inu 2021 Success Story
Shiba Inu (SHIB) is a decentralized community-building cryptocurrency created in August 2020 by an anonymous person named Ryoshi. The Ethereum-based dog-themed token was built as an altcoin of dogecoin, which itself is an altcoin of Bitcoin.
Following its launch, Shiba Inu was trading at $0.000000000510, and by the end of 2020, the altcoin had added recorded a massive surge in value, a feat which made it increasingly popular in the crypto space.
Shiba Inu’s popularity saw an even more significant spike in October 2021 after its prices increased tremendously.
According to reports, those who invested $1000 in SHIB during that time saw a 1000% spike, making them millionaires in the process. Although SHIB’s price is currently down by 87% from its all-time high, there are still millionaires among early investors.
Can Shibarium’s Launch Make History Repeat Itself?
Since Shiba Inu made many crypto enthusiasts millionaires, questions have emerged regarding the future potential of the meme-coin and how the Shibarium project may influence this potential.
According to research by Finder, Shiba Inu is likely to experience an uptrend in price that will make it worth US$0.00004930 by 2025. In addition, 25% of the 55 experts involved in the study believed that the Shibarium launch would positively affect the price of Shiba Inu, with only 3% expressing negative views about the project.
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Currently, the impact of the Shibarium launch on Shiba Inu remains speculative. This is because an increase in the price of SHIB is not Shibarium’s primary aim but a consequence of the goals the layer-2 blockchain network hopes to achieve.
Whether or not history repeats itself for Shiba Inu (SHIB) may depend largely on the rate of adoption of Shibarium.
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