SHIB Price Eyes 60% Surge as Shibarium Ushers in ’Gold Age’

Despite recent market turbulence, Shiba Inu (SHIB) is poised for a significant rebound, with experts forecasting a potential 60% surge in its price. The optimism stems from the burgeoning success of Shibarium, SHIB’s layer-2 network, which has reached notable milestones.

Shiba Inu Price Targets 60% Jump as Shibarium Enters ’Gold Age’ Despite Recent Decline

The price of Shiba Inu (SHIB), the second-biggest meme coin, has continued its downward trend and neared a crucial support level, dropping to $0.00001215. This decline occurred despite Shibarium, its layer-2 network, crossing the 1 billion transaction milestone. Shibarium is also nearing the 200 million total address mark and has seen its cumulative gas usage climb to 38 trillion BONE. Despite the recent decline, there are expectations of a 60% jump in the Shiba Inu price as Shibarium enters its ’gold age’.

Shiba Inu Fake Breakout? Analyst Warns of Deeper Losses Ahead

Shiba Inu (SHIB) lost 23% from its highest level this year, facing strong resistance at $0.00001567 after a brief rally. The cryptocurrency started the week with a strong gain but faced selling pressure at this level, leading to a 21% retracement. In the last 24 hours, SHIB fell further by 3.90%. Analyst Nebraskangooner identified this as a fake breakout and warned of further downside risks. Despite this, long-term Optimism remains due to an increase in the Shiba Inu burn rate and rising Shibarium transactions.

Shibarium Hits 1 Billion Transactions Within Two Years Of Launch

The Shibarium blockchain has announced the completion of 1 billion transactions, reaching the milestone just 18 months after its launch. This reflects the growing adoption and robust performance of the Layer 2 blockchain for the Shiba Inu ecosystem. The milestone showcases the SHIB ecosystem’s utility, supports its burn mechanism, and could drive the token’s long-term value. The blockchain completed a billion transactions and 10 million blocks without suffering a major outage.

Shiba Inu Price Drops, But Traders Remain Unfazed

The price of Shiba Inu (SHIB) has dropped by 7% in the last week of trading. However, on-chain data suggests that the sell-off shouldn’t scare off SHIB holders and traders. Long-term holders, often referred to as ’diamond hands,’ control over 80% of the supply and believe the token is poised for a strong recovery despite short-term volatility. Shibarium has also hit 1 billion transactions. Eyes are on Solana, where most tokens were launched via Pump.fun in 2024.