Decoding the Shiba Inu craze; How high can Shiba Inu go?

Developers have announced their plans to launch Shibacals by leveraging the potential of Shibarium, a layer-2 blockchain. If launched, the main utility of the three tokens, namely, SHIB, LEASE, and BONE, will come into play. Shibarium is focused on applications of NFTs and metaverse to use the said tokens to operate its functions seamlessly.

Shibarium is currently not live. Developers have said that the blockchain could go live later in 2023. A precise timeline is awaited, but developers are confident of making it happen soon.

Back to Shibacals, the service is one of its kind that is being launched to allow users to prove their ownership in the ecosystem. Shibacals will link real-world assets to NFTs, making it convenient for owners to prove their ownership.

Shytoshi Kusama, the project’s lead developer, has shed some light on how it will work. They have said that Shibacals will employ NFC chips, Near Field Communication chips, to authenticate physical items. Needless to say, this will be done digitally. There are chances that the service will boost the valuation of collectibles. The actual effect remains after the service launch and the blockchain.

Kusama believes that the craze of NFT is largely due to the ability of ownership verification and the scarcity of digital items.

Launching Shibacals is necessary to ensure that physical items have been authenticated to keep them safe from malicious actors constantly finding ways to scam people. The announcement was made at the end of June 2023, informing the community that all three tokens have experienced an increase in their trading value. SHIB jumped 11%, followed by BONE and LEASE at 9% and 5.5%.

Will Shiba Inu go up in 2023?

The question is pretty fair from a user’s point of view. The value of Shiba Inu went up instantly when the project was announced. The launch could have a major impact. SHIB is currently being traded at $0.000007. The value is an increase of 1.27% in the last 7 days and at the time of drafting this article. 

According to the Shiba Inu coin price prediction, the valuation could go as high as $0.0000220 by the end of this year. That is the timeline mentioned by developers to make Shibarium public. It will be followed by Shibacals taking the community by storm.

Shibacals make it evident that Shiba Inu is working to have real-world utilities in the account. The future of Shiba Inu seems to be resting in good hands, especially if one considers the estimates for the days to come. Shiba Inu’s future price is only expected to rise, assuming all factors align with the plan and the launch is successful.

Shiba Inu is a safe investment, and the SHIB tokens are experiencing a rise better than other meme coins. This cannot be confused with the apparent theory of volatility. SHIB is still subjected to that, but does Shiba Inu have a future? Yes, going by the current developments, it has a future.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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