Last month, Shiba Inu (CRYPTO: SHIB), unveiled its highly anticipated layer-2 solution called Shibarium, despite encountering initial challenges.
What Happened: The development of Shibarium was driven by a primary objective: to address the scalability concerns of Ethereum (CRYPTO: ETH).
With the aim of achieving the extraordinary milestone of reaching $1, Shiba Inu finds itself in a race against the odds. However, the question remains: Is this feat realistically achievable?
To reach the $1 mark, the market cap of Shiba Inu would need to skyrocket to a staggering $589.59 trillion. Given these astronomical figures, attaining such a market cap for SHIB appears highly improbable and unrealistic.
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Why It Matters: Furthermore, to bridge the gap and reach the desired milestone, SHIB would need to undergo extraordinary growth, amounting to a 13.16 million percent increase.
Price Action: At the time of writing, SHIB was trading at $0.000007656, up 1.97% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Trade Mixed Amid Fading Excitement Over Grayscale’s SEC Win: Analyst Who Forecasted 2018 BTC Crash Predicts King Crypto Rallying Beyond $32K
Photo by Furkan Cubuk on Shutterstock
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