Shiba Inu (SHIB) and its layer 2 scaling solution, Shibarium, are highly correlated but in a very subtle way. The current growth trend between the token and the smart contract platform shows that the sustained boom across all key Shibarium metrics generally translates to an increase in SHIB price.
Shiba Inu (SHIB) and its layer 2 scaling solution, Shibarium, are highly correlated but in a very subtle way. The current growth trend between the token and the smart contract platform shows that the sustained boom across all key Shibarium metrics generally translates to an increase in SHIB price.
Despite this understanding, there is hardly any sustained growth in all metrics associated with Shibarium. At the moment, the smart contract platform is showing steady growth in its account growth metrics, which are currently set at 64,104, up from 63,639 on January 17.
While this growth is visible, it stands in stark contrast to active accounts on the platform, a metric that has seen an unpredictable decline over the past month. Current data puts active accounts on Shibarium as of February 16 at 724, up from 1,009 the previous month.
The same decreasing effect has been recorded in the price of SHIB, which is currently in consolidation mode after reaching a parabolic streak, marked by a growth of 3.39% over the last seven days. At the time of writing, SHIB price is at $0.000009701 after giving up the zero it cleared earlier in the week.
Charting the future of Shiba Inu
The appearance of Shibarium sent a rather comforting message to Shiba Inu users and its advocates in general, showing that the meme coin is now taking a major turn, going from being just a fun token to one that has enormous utility.
The long-term expectation is that Shiba Inu will benefit from the influx of new users to Shibarium, who are expected to put more demands on SHIB to interact with the various decentralized applications that will be launched on the protocol in the long term.
Overall, members of the Shib Army expect an increase of 1 cent per token in the future, and Shibarium and the burning campaign are expected to play a major role in achieving this goal.
