Shiba Inu ATH

The number of addresses for the Shiba Inu cryptocurrency has reached a remarkable milestone, reaching a new record high. According to IntoTheBlock, the coin has gathered a staggering 3.51 million addresses since its introduction three years ago.

 

The preceding month saw the beginning of a considerable increase in activity. The surge peaked in July, when there was a startling 115% weekly increase in new SHIB addresses, demonstrating an unheard-before level of investor excitement and anticipation. With a 22% increase in the previous seven days, the number is still climbing.

It’s noteworthy that the present explosion in activity goes beyond just adding new addresses. With a remarkable 1.24 million addresses already holding SHIB coins in their balance, the number of nonempty wallets has likewise reached its absolute maximum. This astounding statistic represents 35.3% of all Shiba Inu token owners, showing that a sizeable percentage of the neighbourhood is actively involved in the cryptocurrency.

 

Shibarium Summer –

 

Shibarium, Shiba Inu’s eagerly anticipated Layer 2 protocol, is the cause of the rise in activity and influx of new SHIB holders. The protocol, slated for deployment this summer, promises to make exciting improvements and developments to the Shiba Inu environment. The buzz surrounding Shibarium keeps growing dramatically as August gets underway.

 

With the introduction of Shibarium, some of the scalability issues that the Shiba Inu token was experiencing should be resolved, creating new possibilities for both users and developers. It is believed that the implementation of the Layer 2 protocol will significantly improve the blockchain ecosystem for SHIB holders.

 

Shiba Inu Coin Price Prediction – Post-Shibarium Launch

 

Shibarium is in direct rivalry with L2s like Optimism, Polygon, and others because its primary goal is to boost the usability of the entire Ethereum protocol. Shibarium’s complex powers are based on what its developers have stated, while information on its actual feasibility is yet unknown.

 

However, the anticipation around the introduction of the Shibarium protocol is that it might help the price of the Shiba Inu currency approach $1 as trade volume soars.  

 

Even though Shibarium will be burning SHIB with each transaction, it is unlikely that this will have a long-term effect on the token’s price.

 

But what matters more is that Shibarium can expand the network by bringing in new companies and bringing value as a result. SHIB will probably never hit $1, but there is positive shiba inu price prediction of reaching to $0.01 or perhaps a little bit more if more people and businesses drive the price up.

 

Given its current supply, the overall market cap will probably reach multiple trillions of dollars, which is an extremely optimistic estimate.