The past month saw the initial launch and second release of Shibarium, dubbed the game changer in the Shiba Inu ecosystem. Prior to the Layer-2 scaling network solution’s launch, hype about how it could propel SHIB price to a new all-time high (ATH) abound.
It is no longer news that the Shibarium’s initial launch got clouded with massive traffic problems that saw the technology stop producing blocks for some time.
However, the challenges that saw the Shibarium halt its operation were tackled before the network’s relaunching, according to Shytoshi Kusama, the Shiba Inu lead developer.
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Notably, the Shibarium’s second release coincided with when August was almost nearing its end, implying that the technology’s full impact is yet to play out in terms of price appreciation. However, Shibarium has been outstanding in terms of network growth, as it just surpassed the 1 million mark in under 2 weeks of launch.
September just kicked off, and the crypto community seems to anticipate remarkable changes in SHIB’s market activities by the end of the month. What could be Shiba Inu’s fate by September 30?
September 30 Shiba Inu (SHIB) Price Prediction
According to information obtained as of August 1, machine learning algorithms projected SHIB’s price to be $0.0000073 by September 30. Could this price be an increase or decrease from the asset’s current price?
Well, according to CoinGecko, SHIB’s price at press time is $0.00000783, implying that the digital asset will decline by approximately 6.8% if the above price prediction plays out by the end of September.
Notably, Shiba Inu’s price prediction by the machine learning algorithms considered several key technical analysis factors, especially average true range (ATR), Bollinger Bands (BB), moving average convergence divergence (MACD), and relative strength index (RSI), etc.
Shibarium’s Burn Rate For August Revealed
In one of our reports, we covered the Shibarium-induced Shiba Inu August burn, which saw a record monthly burn of over 5 billion SHIB.
According to the report, Shibburn, the official Shiba Inu burn tracker, revealed the total amount of burned Shiba Inu tokens for August to be 5.7 billion.
The incinerated 5.7 billion Shiba Inu tokens were worth $45,899. Shiba Inu enthusiasts appeared unsatisfied with the burn rate, as most argued that with such a burn rate, it would take a very long time for Shiba Inu to attain a reasonable market cap that would catapult the asset’s price spike.
Meanwhile, at the time of writing, SHIB boasts a market capitalization of $4,615,721,309 with a 24-hour trading volume of $68,616,518 and a fully diluted valuation of $7,832,010,905.
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