- Shiba developer ShibTrophias tweets fuel speculations that Shibarium could launch soon.
- Market analysis indicates that the launch of the layer 2 scaling protocol could catalyze a 100% SHIB price surge.
The developers of Shiba Inu (SHIB) continue teasing a possible launch of the memecoin ecosystem’s layer 2 scaling solution, Shibarium.
Much of the hype comes from cryptic tweets posted by Shiba developer, ShibTrophias. In a recent tweet, he alluded to time drawing near. Commenters have interpreted the tweet to mean a looming launch of Shibarium.
#shibarium the countdown has been launched since Sunday 11/12/2022 counting 10 days gives 21/12/2022. this is my #os deduction to the Moon!
— Patner (@PATNERSHIBA93) December 12, 2022
Added to this, Shibarium public testnet went live in September. At the time, Unification, the development company advising on its development stated that the first public beta will follow shortly. In this phase, all interested validators and delegators will be onboarded for open testing.
Shibarium could potentially drive more adoption to the Shiba ecosystem due to the criteria it is being developed to meet. Ryoshi, the pseudonym creator of SHIB, spelled out that Shibarium will speed up Shiba Inu transactions, as well as lower and eventually eliminate fees.
Shibarium fits into Shiba ecosystem plans for NFT gaming, metaverse implementation, DeFi, and dApps development by optimizing and enhancing Shiba Inu’s host chain, Ethereum. Meanwhile, it would also help SHIB transition from being a memecoin to something more valuable and with multiple utilities.
When Shibarium starts to tackle a large portion of the transaction load, it will result in massive fee “burning” due to the drop in network congestion. Burning, which is already active in the Shiba Inu ecosystem, could act as a catalyst for the price of SHIB to surge to new highs as the token becomes scarcer.
Shibarium launch could trigger SHIB Christmas rally
According to expert analysis, the launch of Shibarium could trigger a 100% rally in the price of SHIB before Christmas. Presently, the price of SHIB has nosedived 90.1% from its all-time high price of $0.000087.
SHIB is changing hands at around $0.0000086, down 2.98% in the last 24 hours. A 100% surge from this price would put the price of SHIB at around $0.00002 by Christmas.
The surge could also see SHIB contesting for dominance with the current market-leading memecoin, Dogecoin (DOGE). It would not be the SHIB flips the market capitalization of DOGE if it happens. SHIB has achieved the feat several times already in 2022.
Meanwhile, other catalysts that could drive up the price of SHIB also exist. The SHIB community anticipates more bullish announcements to be made soon around SHIB: The Metaverse following recent updates.
