Shiba Inu to $0.01: How Important is Shibarium For SHIB to Reach 1 Cent?

Vinod Dsouza
Shiba Inu
Source: Pixabay

The Shiba Inu and Unification team has been teasing the SHIB community about Shibarium public beta testnet launch. The word “soon” is making the rounds for six months but the testnet is yet to be launched.

The community is eagerly waiting for the release of Shibarium as the network opens new avenues to the SHIB ecosystem. The development will provide opportunities for developers to build new projects on top of the L2 solution.

Also Read: Shiba Inu: AI Predicts SHIB Price For January 31, 2023

Shiba Inu: The Shibarium Growth Story

Shiba Inu Shibarium
Source: Pixabay

Shibarium could make the SHIB ecosystem expand further and help Shiba Inu scale up in price sustainably. The L2 solution will also ‘burn’ SHIB tokens regularly and reduce its circulating supply. Once the supply is scarce, it initiates the path for a price recovery for the digital asset.

Therefore, Shibarium could be the sole vehicle that could drive Shiba Inu toward the path of reaching $0.01. The burden of the ‘1 Cent Dream’ solely rests on Shibarium as it carries the financial aspirations of nearly 1.2 million SHIB investors.

A recent update confirmed that the L2 network will ‘burn’ SHIB tokens through every transaction initiated on the network. However, the scale of the ‘burns’ will be known only when the network is launched and fully functional.

Also Read: Shiba Inu: Shibarium Codes Finally Go Public on GitHub

Therefore, the more users transact in Shibarium, the more SHIB tokens will be ‘burned’ and removed from circulation. Shibarium will act as a constant ‘burning’ mill and over the years could send several tokens to the dead wallet.

The day Shiba Inu faces scarcity, its price could sustainably scale up in the indices and Shibarium will be the main vehicle to drive SHIB towards $0.01.

Also Read: Shiba Inu: Unification Validator Provides Latest Update On Shibarium

At press time, SHIB was trading at $0.00000891 and is down 4.1% in the 24 hours day trade. SHIB is also down 89.6% from its all time high of $0.00008616, which it reached in October 2021.