The Shiba Inu price has decreased by 1.5% within the last 24 hours, impacted by a cryptocurrency market that has responded negatively to the expectation of another Fed rate hike. Despite the drop, there is a high possibility that SHIB may surge later in the week due to the announcement that Shibarium, the layer-two network for Shiba Inu, will be launching its public beta this week, ushering in an era where the meme token begins to offer genuine utility. SHIB’s indicators suggest that the meme token is close to reaching a bottom, after which it may encounter a healthy rebound. The launch of Shibarium is expected to enhance SHIB transactions’ swiftness and cost-effectiveness while doing the same for the modest number of apps, including ShibaSwap, that litter the Shiba Inu ecosystem. Consequently, the attractiveness of this ecosystem for DeFi and other segments of the crypto economy is expected to increase, bringing more users and adopters to SHIB. In turn, this will raise demand for SHIB, while the advent of Shibarium will also lead to increased SHIB burning via the destruction of transaction fees. The eventual launch of SHIB: The Metaverse will also increase market bullishness for SHIB, creating high expectations for its future. If you’re seeking high-potential coins that may rally sooner, other options might be worth exploring, although SHIBs are expected to rebound later in the year, possibly surging as the year progresses.
