Previous happenings in the crypto space have not been favorable for most crypto projects, forcing many of them to seek other means of salvaging the situation to ensure that their digital assets remain afloat in the bear market.
The dog-themed meme crypto project, Shiba Inu (SHIB), remains one of the cryptocurrencies still struggling to match with its counterparts. SHIB is now trading below the $0.00001 price mark, which has gotten crypto investors wondering if it is worth investing in.
Read Also: Shiba Inu Team Member Reveals Estimated Timeline for Shibarium Mainnet Launch
Nevertheless, hope still abounds for Shiba Inu holders with the anticipated Shibarium launch, which seems poised to catapult SHIB to a price high of $0.001.
How Shibarium Could Help SHIB Attain $0.001 Price
Judging from the perspective of Shiba Inu’s current price, a $0.001 price target for SHIB tokens will invariably imply a 12,368% spike from Shiba Inu’s current price. The Shiba Inu community remains hopeful the Shibarium will be a positive turning point in Shiba Inu’s fortune via the massive burning of SHIB tokens.
In addition, the Shibarium’s projected plan is to burn Shiba Inu with 70% of base transaction fees. This would solve SHIB’s greatest limitation by burning down the token’s massive supply. Notably, the base fee is the minimum fee a network must use to cushion the risks of spam transactions.
In previous reports, it was revealed that Shiba Inu’s current price implies that investors are allowed to stack up SHIB tokens at a discounted price while they anticipate a bull soon. Nonetheless, stacking up SHIB tokens at this current price should not serve as investment advice, as there are chances of further dips.
Does The Shibarium Project Spew Hope For Shiba Inu (SHIB)?
The Shibarium was tagged as the upcoming game changer for the Shiba Inu ecosystem and is projected to serve as the Ethereum-based layer-2 solution for the Shiba Inu ecosystem.
So far, Shiba Inu has recorded success with other projects like Puppynet, the beta network, and then with the recent sneak peek of the Shibarium burn portal, which would hopefully solve the problem of SHIB coin’s massive supply, Shiba Inu users still have reasons to remain hopeful.
Information from the Shibarium burn portal revealed that the burn outlet would incorporate the Shibarium gas token, BONE, converting them to SHIB when they reach a certain amount. In the end, Shibarium will send the resulting Shiba Inu tokens to the burn portal. Notably, documentation from Shibarium confirmed that the network intends to burn 70% of its base transaction fees.
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