Shiba Inu Eyes $0.001 as Shibarium Smashes Through 11 Million Blocks—Memecoin Mania or Legit Rally?

Shibarium, the layer-2 blockchain powering Shiba Inu, just blasted past 11 million blocks—fueling wild speculation that SHIB could hit $0.001. Traders are piling in, but skeptics warn this might just be another ’number go up’ fantasy for bagholders.

Meanwhile, Wall Street still can’t decide if crypto is the future or a glorified Ponzi scheme. Place your bets.

As shiba inu (SHIB) enjoys a two-fold increase on the monthly chart, the second-largest meme coin is eyeing a major leg up.

According to crypto analyst Henry, “With Shibarium adoption growing and aggressive token burns underway, the fundamentals are aligning for a potential breakout. There is a huge pump incoming which is going to break all the past levels ATH and will be  atleast 790%.”

If this analysis sees the light of day, Shiba Inu is destined for the $0.001 zone.

Already enjoying a monthly surge of 29% to post a price of $0.00015, Shiba Inu has been witnessing a notable hodling culture, given that SHIB holdings recently dropped to 1.2 billion from 7 billion on crypto exchanges.

This is a welcome MOVE in the SHIB ecosystem because it will decrease selling pressure since coins are mostly held on exchanges for liquidation purposes.

Shibarium Steals the Show

According to Shibariumscan data, Shiba Inu’s LAYER 2 network, Shibarium, continues to be the talk of the crypto token after recently breaching the 11 million block mark.

Currently at 11,014,000, this block milestone shows heightened activity and user base within the SHIB ecosystem.

Known for its efficiency, scalability, and speed, Shibarium continues to boost Shiba Inu’s utility, recently processing more than 1 billion transactions.

Therefore, Shibarium is laying the groundwork for SHIB’s increased adoption and future developments.

Meanwhile, Shiba Inu’s whale activity went through the roof last month after accumulating more than 1.4 trillion SHIB tokens in just a week.