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Shiba Inu’s Path to $1 – Can Shibarium’s 2 Million Transactions Fuel Its Rise?

Right now, SHIB is trading at approximately $0.00002164, with a 4.9% downturn in the last 24 hours.

The RSI is currently at around 45, which puts it in the neutral zone.

Currently, SHIB is approaching a critical resistance level at $0.00002631. On the support side, key levels to monitor include $0.0000070 and $0.0000064.In 2023 Shiba Inu launched Shibarium, its Layer-2 blockchain built on Ethereum. This launch came after months of testing that led to the creation of 21 million wallets.

Shibarium set out to solve key issues like high fees and slow transaction speeds and offer a more scalable and efficient solution for the Shiba Inu ecosystem.

The network gained momentum quickly after its launch. By October 2023, it had processed nearly 10 million transactions in just three days.

This performance demonstrated Shibarium’s ability to handle large transaction volumes and reinforced its value as a key component of Shiba Inu’s transition from a meme coin to a functional blockchain.$SHIB #CryptoReboundStrategy #AIAgentFrenzy #BitcoinHashRateSurge #SUIHitsATH #BIOOpenonBinance
In December 2024, Shibarium reached an important milestone with over 2 million wallet addresses registered. This marked significant growth in its user base and adoption.
At the same time, the platform surpassed 600 million total transactions, with 4 million transactions on average per day.
However, for SHIB to reach $1, its market cap would need to skyrocket into the quadrillions, an impossible figure given its circulating supply of 589 trillion tokens.
The path to $1 would require a drastic reduction in supply.
To address this, the Shiba Inu team has introduced token burns, which permanently remove SHIB from circulation. While burns continue to shrink the supply, the current rate isn’t fast enough to make a major dent.
Javon Marks, a crypto analyst on X, highlighted Shiba Inu’s bullish pattern and set a target price of $0.000081, indicating a potential 180% rise.