Shiba Inu Coin (SHIB) Price Prediction: Is There New Hope for SHIB Price Rise?
SHIB is experiencing a rebound, with a price increase of 4% within 24 hours. Meanwhile, Shiba Inu's Layer 2 blockchain solution, Shibarium, continues to make strides and has become the market focus.
On Christmas Day, Shibarium broke a key development milestone, processing a total of over 700 million transactions. It only launched last summer, and achieving this result is a significant accomplishment. After its launch, it went through several important phases, first updating the user interface to enhance compatibility with popular self-custody wallets and optimizing user experience. Subsequently, the team implemented a hard fork update to strengthen the developer and innovator community, accelerate block processing times, improve system efficiency, and enable a burn mechanism that differs from the original plan but 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 that its future development may be key to the price increase of meme coins.
Looking at SHIB's current situation, it is worth noting that Shibarium's latest performance coincides with the rebound in SHIB prices. Currently, SHIB's trading price is approximately $0.00002305, with a daily increase of 4%.
In the past 24 hours, the burn rate has risen by 50%, with over 7 million tokens burned. Although the dollar value is not significant, continuous burning will make the tokens scarcer, and if demand does not decrease, its value is expected to rise.
In the past week, the net inflow 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 seen as a bullish signal, alleviating selling pressure and benefiting subsequent price stabilization and increase.
