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- Shytoshi compared Shiba Inu to a pine tree that only has a few leaves and needs water, sunlight and proper soil.
- The lead growth component for Shiba Inu is the Shibarium layer 2 scaling solution that will onboard practical DeFi projects.
The Shiba Inu community is eagerly waiting for the launch date of the layer 2 ecosystem dubbed Shibarium network. The Shibarium beta, which is expected to come first, has stirred up heated speculation in the Shiba Inu ecosystem leading to a significant price pump. According to our latest crypto price oracles, Shiba Inu is exchanging around $0.00001208, up over 45 percent in the last 30 days.
Having closely followed Bitcoin’s steps to obliterate FTX losses, Shiba Inu has officially entered a multi-week consolidation level that will lead to the next bull market. As such, the founder of Gokhshtein media David Gokhshtein has predicted Shiba Inu will hit a dollar cent.
$SHIB, please hit one cent so I can delete this Twitter account.
Thanks.
— David Gokhshtein (@davidgokhshtein) January 22, 2023
However, a senior market analyst at Cubic Analytics Caleb Franzen highlighted his skepticism on the Shiba Inu price forecast of $0.01. Caleb noted
Please tell me that you’re aware that a $0.01 price of $SHIBUSD is equivalent to a total market cap larger than $5.9Tn. Shiba Inu’s dominance is currently 0.67% of the entire crypto market cap. Let’s imagine that it grows to 5% of the market cap at a $0.01 $SHIBUSD valuation. At a market cap of $5.9Tn, that means that the entire crypto market cap would be: $5.9/5% = $118Tn, or 5x U.S. GDP in 2021,
The success of memecoins is largely pegged to their vibrant online community of speculation. However, due to high competition from emerging memecoins, Shiba Inu intends to build infrastructure that helps developers bring scalable and secure DeFi projects.
Read: Meme coin fight: BONK outperforms DOGE and SHIB amid 5,000,000,000,000 token burn
Shiba Inu Community Speculate on Shibarium Beta Launch
With no specific launch date for the Shibarium beta, the Shiba Inu community has been speculating based on clues provided by lead developer Shytoshi Kusama.
On his Twitter bio, Shytoshi Kusama noted:
Tending the Pine Tree of Life. Quickly learning to play the flute before putting Shibarium in a heart-shaped box with a bow.
As such, popular Shiba Inu holders speculated the Shibarium layer 2 networks will be released on Valentine’s Day, February 14. However, with Shytoshi’s announcement of ‘soon’ as the expected timeline for the Shibarium layer 2 scaling solution, the exact date remains largely unknown. Moreover, it could be this year’s valentines in a few weeks or next year’s.
#Shibarium to be released on the 14th of February — Valentine's Day? 👀 pic.twitter.com/kVtdgLHN19
— SHIB HODLER (@ShibaInuHodler) January 20, 2023
The Shiba Inu lead developer has been hinting at Shibarium dates through parable-like narratives. For instance, Shytoshi compared Shiba Inu to a pine tree that only has a few leaves and needs water, sunlight, and proper soil. In this case, the lead growth component for Shiba Inu is the Shibarium layer 2 scaling solution that will onboard practical DeFi projects.
During fall the tree may have only a few leaves, but then spring appears.
Luckily, Shibarium, in this context, is a Pine Tree. Still, it needs water, sunlight and proper soil. But pines survive and thrive during the harshest winters. (I also hear the needle tea is good for u.) https://t.co/IlmwGjvSog
— Shytoshi Kusama™ (@ShytoshiKusama) January 15, 2023
