After the unsuccessful first Shibarium launch, Shytoshi Kusama announced that the Layer-2 scaling network solution will be relaunched in the future, as previously stated. It is worth remembering that Shibarium was unable to handle the overwhelming traffic resulting from its widespread adoption after its release. The significant increase in traffic led the team to decide to halt block production on the Shibarium network.
Meanwhile, Kusama has already reassured the crypto community, especially SHIB enthusiasts, that he and his team are actively working to prevent any future relapse by actively working on the relaunch of Shibarium, but in private mode.
Shiba Price Analysis
Amidst all these events, the price of SHIB seemed to be declining. At the time of writing, the cryptocurrency’s price was $0.0000084, having traded between the minimum and maximum price levels of $0.00000776 and $0.00001010 respectively in the past seven days.
The above SHIB prices indicate that the token fell below several resistance levels before the decline started. Although the current market outlook for Shiba Inu (SHIB) may seem gloomy, some SHIB advocates still believe that a price target of $0.01 can be reached.
Shiba Future Predictions
At the current price of Shiba Inu, a $850 investment would yield approximately 104,039,168 SHIB coins. Therefore, if Shiba Inu manages to reach the projected $0.01 level, the initial investment could be around $1,050,000.
Analyzing the returns on the above investment, investors embracing the project at its current price are guaranteed a profit range of $1,049,150. On the other hand, as speculated by most crypto experts and top advocates, a price target of $0.001 for Shiba Inu also seems attainable. If SHIB reaches a price level of $0.001, 104,039,168 SHIB tokens would be worth approximately $1,403,916, reflecting a gain of approximately $1,318,916.
SHIB Approaching Decentralization
Amidst exciting developments related to Shibarium technology, Shiba Inu recently announced itself as the foundation of a decentralized digital nation in a world newspaper. SHIB contains important details about Shiba Inu principles and is referred to as the main authority that can embrace the power of Shiba Inu’s Shibarium technology to develop a decentralized global digital state.
Only time will tell how these plans will unfold. However, the time factor is needed for the project to reach its full potential. The uncertainty of where the Shib price can go in the future seems to continue. Monitoring Bitcoin‘s price will be beneficial for investors.
