In the latest AMA session, it was announced that Shiba Inu (SHIB) became the most traded token among Ethereum (ETH) investors. Shiba coin is considered to be a meme coin that currently has a worth of $0,00002465. If you are waiting for this cryptocurrency to reach $1, you would need to wait a long time. Coin Price Forecast predicts that it may go up to $0,00009584 by the end of 2023 and only up to $0,00007372 by the end of this year.
The AMA session had over 7,500 listeners and it was organized by Watcher Guru. A lot of larger names showed up that have a lot of faith in the projects that were in the works. Some of them were Shib Informer, Archangel, and so on.
Big plans for Shiba coin and Shiberse
During the AMA session, the team of SHIB had two significant announcements. They believe that those changes will make Shiba’s ecosystem stronger than it was before.
The first announcement that Shiba Inu’s team unveiled was the construction of their own Burn Portal. Burn Portal is somewhat of a one-way smart contract that no one has access to. Once something goes in, it cannot go out anymore. Locking the coins allows a decrease in circulating supply. Those coins that were not locked in the Burn Portal may jump in value. This means that it could lead to a rise in the value of the coin too.
In the second announcement, Archangel confirmed that there are going to be 99,000 new plots of land in the Shiberse (Metaverse). This will not be released at once. Foremost, the team will release 35,000 plots and after those get sold out, the rest of the plots will follow.
After the announcements were made, the Shiba token took lead from UNI which was the most traded token. Over 1000 biggest Ethereum (ETH) wallets participated in the trading of Shiba tokens in the last 24 hours.
Predictions for value increase
Whales hold more than $2.3 billion worth of SHIB token and its current market cap is at $45 billion. The token eclipsed dogecoin and it became the ninth most valuable cryptocurrency.
Shiba Inu token does have a possibility of a value increase, even if it takes a long time. At the moment, the circulating supply consists of 549 trillion tokens. With the condition that the value goes up to $1, the value market of Shiba Inu’s would be a lot more than $549 trillion.
Believe it or not, this would mean that the Shiba token would become bigger than the whole cryptocurrency market. It would also become larger than companies such as Amazon which has a worth of $1.5 trillion.
Shiba Inu team also has in plan to increase the transaction speed and reduce the costs. To do so, they will be constructing a layer-2 solution. This would help move Shiba tokens move to the L2 network and broaden their uses.
Your capital is at risk.
Read more:
