The Shiba Inu managed to maintain its value above $0.00001 despite the general decline in the market. However, industry experts predict a significant increase in value by 2025. This success marks the ongoing intense testing on the Shibarium beta network and may reflect the potential adoption rate the Shiba Inu L2 network will receive at launch.
Bull price predictions for the Shiba Inu!
The Shiba Inu (SHIB) has shown remarkable resilience in the face of the ongoing downtrend that has been affecting the broader crypto market for the past three days. Despite the bearish pressure, the asset managed to hold its position above the critical level at $0.00001. A panel of industry experts from Finder had previously predicted a substantial 350% increase in price over the next two years.
Finder, a leading FinTech benchmarking platform, previously gathered insights from a panel of 55 experts in the FinTech industry to provide an informed assessment of Shiba Inu’s price movements. This respected panel of experts has reached a collective agreement on the expected direction of the price of SHIB by 2025. The common prediction of this panel was that the Shiba Inu will rise to $0.00004930 by 2025. Meeting this price target would mean a significant 380% increase from the asset’s present value of $0.00001025.
On the other hand, Alex Kuptsikevich, a market expert and senior financial analyst at FxPro, has a more bullish outlook on the price of SHIB. The finance expert predicts that SHIB will reach a significant price of $0.0001 by 2025, pointing to a significant increase of 875% from its current value. Kuptsikevich said, “This is just one of many meme-coins. “While it could drive future waves of the crypto market, it is unlikely to roar like it did in 2021.”
Panelists also take into account the potential of Shibarium, the Shiba Inu’s layer-2 network, to support the asset’s price movements and the broader Shiba Inu ecosystem. 25% of experts predict that Shibarium will have a positive impact on the price of SHIB, while 22% believe it will not.
Shiba Inu holding onto over $0.00001
Meanwhile, the Shiba Inu continues to consolidate around the $0.00001 price zone as of press time, taking its fair share of bears blows. Despite this, the asset is among the least affected by the recent downtrend. SHIB fell 8.88% in the past week, while BTC and ETH fell 10.13% and 11.75% respectively.
The Shiba Inu has held above the $0.00001 level since recovering after falling to $0.000009764 on March 10. However, over the past two months, the asset has struggled to regain its February high of $0.0015 as the bears have strongly resisted its upside momentum. As of now, SHIB is looking for the next level of market support that will allow it to form a more stable position above $0.000011 before making another upward move.
Shibarium, the layer-2 network solution for the Shiba Inu ecosystem, continues to make impressive strides in the beta testing phase. Puppynet, the beta version of the network, has crossed the 14 million wallet threshold just four weeks after the developers relaunched it with an updated Chain ID. Data from Puppyscan, the block explorer designated for Puppynet, shows that the Shibarium beta network currently has a total of 14,061,584 wallets. The testnet achieved this feat only a month after it was relaunched on March 24.
Shibarium beta network
The number of wallets stood at 3,122,259 (3.12 million) as of April 13, after test net survived a 14-hour outage. The current figure of 14 million shows that wallets on the testnet have increased by 350% in just nine days, which is an impressive feat. Moreover, Puppynet continued to increase in other metrics as well. The total number of transactions on the network is currently 4,552,506 (4.55 million), and the daily number of transactions at the time of reporting is 68,782. In addition, the total number of blocks processed by the network increased to 489,457. Meanwhile, despite the load, the average block time of the network remained at 5 seconds.
The noticeable increase in various metrics and performance indicators is a clear indication that a significant amount of testing is currently being done on the Shibarium beta network. These metrics may indicate the level of interest and engagement that Shibarium could potentially receive once it launches. Meanwhile, Bone ShibaSwap (BONE), the governance token for ShibaSwap and the gas token for Shibarium, has witnessed increased interest. cryptocoin.comAs we reported, OKX recently highlighted this asset as one of the meme tokens it could potentially list, giving users the opportunity to choose from five different tokens.
🔥假如 #OKX 推出 #MemeCoin 充值上币活动，你会为哪些项目投票？
🔁关注 @okxchinese ，转发+投票
🪙抽取10人瓜分300 $USDT 等值MemeCoin #Giveaway #Airdrop投票（1/2）
— OKX中文 (@okxchinese) April 21, 2023
BONE, which has received a total of 30,000 votes so far, is at the top with 61% of respondents requesting the exchange to list this asset against others. Users have 1 day left to vote before the poll closes. In light of this, OKX has recently amassed 1.7 million BONDS, making it the 13th largest BONUS holder.
