Shiba Inu (SHIB) Poised to Enter Top 5 Cryptocurrencies
- The future of Shiba Inu is bright with a projection it will enter top 5 cryptos in the next bull cycle.
- The Shibarium sentiment, burning mechanism among others remains a major boost for growth.
Crypto analyst Del Crypto has reasons to believe that Shiba Inu (SHIB) is poised to join the list of top 5 crypto projects in the next bull run.
To achieve this feat, SHIB market capitalization would be required to surpass $37 billion and this would mean a surge of up to 697.93% from the current level. Also, this suggested increase in market cap would mean that SHIB loses one of its zeros and trades at around $0.0000630 per token. At the time of this writing, the dog-themed cryptocurrency is trading at $0.000008178, after a 4.46% increase in the past 24 hours.
If Shiba Inu’s market cap reaches $37 billion, the price of each token would only be 26.8% higher than its all-time-high of $0.0008616. Also, when this happens, an investor would only need about 15,873,015,873 tokens to make him a millionaire. The cost of purchasing this much SHIB tokens would be approximately $125,238. Although, in the foreseeable future, it is very likely that the price of Shiba Inu will surge, way higher than was predicted.
The launch of Shibarium, its Layer-2 scalability platform, is believed to have the capacity to influence the demand for SHIB token.
Shibarium mainnet launch is scheduled to happen during the Blockchain Futurist Conference which will be held in August, according to Shiba Inu top developer Shytoshi Kusama. LUCIE, another top team member behind the Shibarium tech also unveiled a new kind of burning mechanism which will be introduced through Shibarium that will reduce the supply of SHIB.
These new, combined with existing innovations will help boost the price of the
Burning Mechanism to Reduce Shiba Inu Supply And Improve Price
Precisely, this highly acclaimed burning mechanism would require that when users complete transactions on the Shiba Inu network, the base fee gets locked in the Shibarium contract.
Meanwhile, the priority fee will get paid to the validators. The base fee is the minimum amount needed for a transaction to be considered valid. On the other hand, the priority fee is an additional amount paid to validators as an incentive for including transactions in blocks.
Later on, the base fee gets divided into two of which 70% is burned and the remaining 30% is set aside for network maintenance. Considering all these, the launch of Shibarium as well as the reception it gets would determine if there would be a drastic increase in demand for Shiba Inu or not. This would in turn trigger the price of the token.
Moving forward, data analytics platform Gov Capital, is positive that Shiba Inu would likely “kill two zeros” to surge by 2,553% by 2028. In the midst of these positive fundamentals and predictions, the burning question on the minds of many investors is whether Shiba Inu will achieve the monumental milestone of reaching $1 in value before the year comes to an end.
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