Shiba Inu Coin (SHIB) Price Prediction: Is There New Hope for SHIB Price Increase?
SHIB has rebounded, with a price increase of 4% within 24 hours. Meanwhile, Shiba Inu's layer two blockchain solution, Shibarium, continues to gain momentum and has become the market focus.
On Christmas Day, Shibarium broke through a key development milestone, processing a total of over 700 million transactions. It was launched last summer, and achieving this result is a significant accomplishment. After its launch, it went through several important stages, first updating the user interface to enhance compatibility with popular self-custody wallets and optimizing the user experience. Subsequently, the team implemented a hard fork update, strengthening the developer and innovator community, accelerating block processing times, improving system efficiency, and activating a burning mechanism that, while different from the original plan, serves the same purpose.
Shibarium aims to reduce costs, increase speed, and enhance scalability to promote the development of the Shiba Inu ecosystem. Therefore, some believe its subsequent development may be key to the rise in meme coin prices.
Looking at the current situation of SHIB, it is noteworthy that the latest performance of Shibarium aligns perfectly with the rebound in SHIB prices. Currently, the trading price of SHIB is approximately $0.00002305, with a daily increase of 4%.
In the past 24 hours, the burn rate has increased by 50%, with over 7 million tokens being burned. Although the dollar amount is not significant, continuous burning will make the tokens scarcer, and if demand does not decrease, their value is expected to rise.
In the past week, the net flow of SHIB on exchanges has mostly been negative, with outflows often exceeding inflows. This indicates that funds are shifting from centralized platforms to self-custody methods, which can be viewed as a bullish signal, alleviating sell-off pressure and benefiting subsequent price stabilization and increase.
