Amid heightened anticipation from the Shiba Inu community, the launch of Shibarium has garnered significant attention, with experts predicting a substantial rally for Shiba Inu (SHIB) in the next bull run.
Del Crxpto, a renowned crypto technical analysis expert, has outlined why Shibarium, the Shiba Inu layer-2 solution, could be a game-changer to propel SHIB to $0.01.
Defying Odds and Ethereum Congestion
Despite facing challenges stemming from high transaction costs on the Ethereum network, Shiba Inu managed to secure a spot among the three largest crypto assets in 2021. Del Crxpto emphasizes the remarkable feat achieved by SHIB, which started its meteoric rally in May 2021.
SHIB reached an all-time high of $0.00008845 in October 2021, boasting a market cap of $37.6 billion, solidifying its position at a very high level at the time.
Despite Ethereum’s high transaction costs, Shiba Inu’s growth remained unaffected, showcasing the resilience and widespread interest in the project.
Shibarium to Fuel the Next SHIB Bull Run
Following the Ethereum Merge, which took place in September 2022, transaction costs on the Ethereum network continue to be a concern.
In light of this, layer-2 solutions like Shibarium emerged, aiming to address congestion and transaction speed issues.
Del Crxpto believes that Shibarium’s arrival signifies liberation for the Shiba Inu ecosystem. By freeing SHIB from the burden of high transaction costs and congestion on Ethereum, Shibarium is poised to accelerate the adoption rate of Shiba Inu.
— Del Crxpto (@DelCrxpto) August 17, 2023
The unexpected influx of users to Shibarium, as confirmed by Shiba Inu lead developer, Shytoshi Kusama, has initially led to some challenges for investors. However, this surge in user activity is a testament to the high adoption rate expected for Shibarium, further bolstering the case for a substantial rally in the next bull run.
Del Crxpto champions the ambitious goal of SHIB rallying to $0.01. With SHIB’s current price at $0.0000841, a surge of 118,806% would be necessary to reach this target. While this remains a significant milestone, the launch of Shibarium and increasing adoption could set the stage for such a remarkable price increase in the future.
As Shibarium continues to establish its presence and overcome initial hurdles, market observers eagerly await further developments in the Shiba Inu ecosystem and the potential impact on SHIB’s price trajectory.