Can Shibarium Drive Shiba Inu to a $1 Trillion Market Cap?

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Casey Stubbs, the founder of Trading Strategy Guides, projects a $1 trillion market cap for Shiba Inu (SHIB) and Bone ShibaSwap (BONE). In an X post, Stubbs expressed his optimism, envisioning widespread adoption of Shiba Inu’s Layer-2 blockchain, Shibarium.

Widespread Adoption Of Shibarium

Stubbs envisions thousands of SHIB and BONE pairs actively trading on Shibarium, generating billions in daily trading volume. He made this projection while responding to an X post from SpecialK, a moderator on Shibarium’s Discord and Telegram channels. SpecialK described Shibarium as the backbone of Shiba Inu, predicting that the L2 network could set new standards within the crypto space.

I am envisioning a day where there are thousands of shib and bone pairs trading on shibarium with billions of dollars worth of transactions daily and trillion dollar market cap. https://t.co/puSwMgBWoP
— Casey Stubbs (@caseystubbs) June 16, 2024

He also urged investors to prepare for a transformative journey that would elevate Shiba Inu to unprecedented levels of innovation and impact. Although Stubbs and SpecialK are optimistic about Shibarium’s future, the network’s adoption rate has significantly declined recently. Since this month, the network has averaged fewer than 10,000 daily transactions.

This is a sharp contrast to December 2023, when daily transactions surged to between 5 million and 7.5 million. Since March 7, 2024, Shibarium has processed only 17.72 million transactions. Despite this low adoption rate, Stubbs and SpecialK remain hopeful for a significant turnaround.

Potential Impact On SHIB And BONE Prices

A $1 trillion market cap for SHIB and BONE could positively impact their prices. Currently, SHIB has a market cap of $11.94 billion, while BONE is valued at $123.34 million. They are priced at $0.00002018 and $0.53, respectively. If SHIB’s market cap reaches $1 trillion, its price could rise to $0.016 per token, assuming the circulating supply remains constant at 589.27 trillion.

Similarly, BONE could be worth $4,349 per token if it achieves a $1 trillion market cap. While Shiba Inu’s Shibarium network has faced recent challenges in adoption, industry experts like Casey Stubbs and SpecialK maintain a bullish outlook. They believe that with time, Shibarium will experience significant growth, potentially driving SHIB and BONE to a $1 trillion market cap.