Shiba Inu's Journey To $1: How Much Does It Need To Jump?
Portfolio Pulse from Mehab Qureshi
Shiba Inu (CRYPTO: SHIB) has unveiled its layer-2 solution, Shibarium, to address scalability concerns of Ethereum (CRYPTO: ETH). The goal is to reach a $1 value, which would require a market cap of $589.59 trillion, a highly improbable feat. SHIB would need to grow by 13.16 million percent to achieve this. Currently, SHIB is trading at $0.000007656, up 1.97% in the last 24 hours.
September 06, 2023 | 10:00 pm
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NEUTRAL IMPACT
Bitcoin is mentioned in the article but no specific news or events related to it are discussed.
Bitcoin is mentioned in the article but no specific news or events related to it are discussed. Therefore, this news is unlikely to have any impact on Bitcoin's price.
CONFIDENCE 100
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
Shiba Inu's layer-2 solution, Shibarium, is designed to address scalability concerns of Ethereum.
The news is indirectly related to Ethereum as Shibarium is designed to address its scalability concerns. However, it's unclear how this will impact Ethereum's price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Shiba Inu's new layer-2 solution, Shibarium, aims to boost SHIB to $1. This requires a 13.16 million percent growth and a $589.59 trillion market cap.
The news about Shiba Inu's new layer-2 solution, Shibarium, is directly related to SHIB. However, the goal of reaching $1 is highly improbable given the required market cap and growth. This could lead to speculative trading but the overall impact on the price is uncertain.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100