Shiba Inu (SHIB), a parody coin inspired by Dogecoin, has once again set the cryptocurrency world ablaze with speculation. Armando Pantoja, a well-known Bitcoin investor, has laid down the gauntlet, saying that SHIB's price may skyrocket to $0.001 by the year 2025. Because of this lofty goal, people are talking again about SHIB's possibilities and whether or not it can break out of its meme-coin roots.
The history of SHIB is one of incredible development. Surprisingly, the meme coin's value increased by more than 80,000% in 2021. This incredible adventure captivated ordinary investors and made crypto millionaires. Nevertheless, SHIB's early value proposition was mostly fueled by its meme status and community excitement, in contrast to more established players such as Bitcoin and Ethereum.
Nevertheless, it seems like things are changing. Shiba Inu has been working hard to build its ecosystem since its creators know it needs more than simply viral appeal. With its planned debut on May 2nd, the forthcoming Shibarium hardfork is a key component of this endeavor. To improve the user experience and solve scalability issues, this release will incorporate Shibarium, a layer-2 scaling solution.
Is Shibarium the Next Ethereum?
There have been analogies made between the impending Ethereum 2.0 update and the possible effect of Shibarium. High transaction costs and network congestion have long plagued Ethereum, the second-largest cryptocurrency by market size and a victim of scaling problems.
By switching to a proof-of-stake consensus method, Ethereum 2.0 intends to solve these issues and provide reduced fees and better processing speeds. The market is lacking user-friendly alternatives, nevertheless, since its development has been delayed.
If Shibarium is successful, it may make SHIB a better choice for developers who want to create dApps. Developers concentrating on projects needing frequent interactions and reduced costs may be enticed away from Ethereum by Shibarium's quicker and cheaper transactions. Like Ethereum did when it first emerged to challenge Bitcoin's monopoly in the DeFi era, this situation might play out in a similar fashion.
Our community of innovators and developers will be empowered by a package of new features that will improve user experience. These changes will be introduced via an upcoming hard fork that is slated to be live on May 2nd.
Reaching $0.001 by 2025 is still a big deal, even if Shibarium is getting a lot of positive buzz. Because of this intrinsic volatility, the price of cryptocurrencies may be dramatically affected by unanticipated occurrences. For Shibarium to thrive in the long run, it needs developers and users to create a strong ecosystem, which in turn requires widespread acceptance.
The Shiba Inu cryptocurrency has lost 9 percent of its value in the last 24 hours, with a current price of $0.00002459. Shiba Inu prices would have to climb by almost 4,000% this year to be considered possibly more than $0.001.
In the meantime, there are those who are wary. They note SHIB's prior successes but blame the market and the dominance of Ethereum and other well-established cryptocurrencies. According to more cautious projections made by platforms like Telegaon, the highest price that SHIB may reach by 2025 is $0.0000728, which is lower than its all-time high.