Can Shiba Inu Reach $1 By 2023? - 2 minutes read

Shiba inu coin logo

Investors are currently grappling with increased regulatory enforcement from the US Securities and Exchange Commission (SEC). However, the Twitter account BoneShibaSwap has highlighted several factors that could encourage Shiba Inu (SHIB) to reach record highs.

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BoneShibaSwap suggests that if the SHIBArmy targets BONE and the future Shibarium network. SHIB can break the magical $ 1 barrier.

Shibarium is a game changer

Ever since Tesla CEO Elon Musk first tweeted about Dogecoin in 2019, meme-coins like Shiba Inu and Dogecoin have exploded in popularity. SHIB also gained popularity later on and some believe that DOGE's little brother could become even more popular soon.

The team behind Shiba Inu recently announced that Shibarium will launch soon. Shibarium is a layer 2 network built on top of the Ethereum main net. The team has acknowledged that some view Shibarium as a tool to drive up the price, but in a blog post introducing the project, the team emphasized that the Shibarium could be a real game changer.

The team has previously stated that the new layer-2 chain will lower costs and increase transaction speed for the tokens in the ecosystem. Shibarium is controlled and secured by validators who stake their tokens to receive rewards in the form of BONE. BONE is the governance token of ShibaSwap, the decentralized exchange.

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The Twitter account BoneShibaSwap mainly predicts that Shibarium will burn SHIB tokens with every transaction. In addition, all transfers on the layer-2 blockchain will be done using BONE tokens. Optimistic Shiba Inu investors, therefore, expect trillions of SHIB tokens to be “burned” once Shibarium goes live. In their eyes, it is therefore indeed possible that 1 SHIB coin will ever be worth 1 dollar.