Shiba Inu’s highly anticipated layer two protocol, Shibarium, is set to be released in August. The community is eagerly awaiting the major update. The launch of Shibarium is expected to have a positive impact on the entire network and it is also predicted to result in higher profits for investors of the meme coin.
Artificial intelligence has become a global phenomenon, with widespread adoption of chatbots such as OpenAI’s ChatGPT and Google’s Bard. These AI tools are being extensively utilized in various industries, including the crypto sector, where they play a significant role in analysis and making predictions. As a result, we opted to inquire with Google’s Bard about the price of SHIB after the launch of Shibarium in August.
Bard identifies multiple factors that could potentially contribute to an increase in the price of SHIB, with Shibarium being just one of the catalysts. Specifically, Bard highlighted four key factors that may influence SHIB’s price following the launch of Shibarium. They are,
- The overall performance of the cryptocurrency market
- The success of Shibarium in reducing gas fees and increasing scalability
- The level of adoption of SHIB by businesses and consumers
- Any technical problems with Shibarium
Furthermore, concerning price projections, Bard provided a diverse set of Shiba Inu price forecasts from different sources. Notably, analytics platforms anticipate SHIB to shed a zero by the end of the year. Among these forecasts, Gov Capital presents the most bullish prediction for the meme coin, forecasting it to reach $0.000030. Following closely, WalletInvestor projects a price of $0.000020, while DigitalCoinPrice predicts SHIB to conclude 2023 at $0.000015.
Also Read: Shiba Inu: Will Elon Musk Attend Shibarium’s Launch Event?
Shiba Inu adoption takes a back seat
At press time, Shiba Inu was being traded at $0.000008323, showing a 0.85% decrease in daily value. This followed a recent surge that saw the asset reach a peak of 0.00000874. Considering the current price, an acceleration in adoption is crucial to expedite the process of removing a zero, as recommended by Bard. However, IntoTheBlock’s new adoption rate chart indicates a decline in SHIB’s adoption at the moment.
The chart displayed above illustrates SHIB’s recent adoption rate, which has been on a declining trend. After reaching a peak of 58.13% earlier in July, the adoption rate experienced a significant drop to 29.86% by the end of the month. If this downward trend continues, it could pose challenges for SHIB’s price surge in the future.
Also Read: Shiba Inu: 2 Billion Tokens Burned in July: Is $0.0001 Next Target?