Key takeaways

• Shiba Inu (SHIB) has been busy during the bear market making key upgrades to its meme coin network, including the launch of a layer-2 blockchain called Shibarium
• SHIB token holders can access an ecosystem of applications on Shibarium, with more than 1 million wallet addresses already being registered since its August launch date
• The SHIB price prediction algorithm has forecasted a major surge after the Bitcoin halving takes place in April 2024, with a +680% gain expected for SHIB by December of the same year

Shiba Inu Price Prediction: Here’s How High AI Thinks SHIB Will Go After the 2024 Halving

The current price of Shiba Inu (SHIB) is $0.000008282, down -0.91% in the past 24 hours. Previously, SHIB had climbed +31% from its mid-October lows during a period of upside for the wider crypto markets.

The SHIB price prediction algorithm has forecasted a return to macro range highs for SHIB after the Bitcoin halving takes place in April 2024. The forecast includes a major impulsive wave of more than +680% from the current price level, taking SHIB up to $0.00006543 by December 2024.

Several key developments within Shiba Inu’s meme coin ecosystem could spark sustained bullish price action for SHIB over the next year. In August, a layer-2 scalability solution for Shiba Inu was launched that has already enjoyed rapid adoption.

How has Shibarium performed since the August launch date?

Shiba Inu’s new layer-2 blockchain, Shibarium, supports the development of EVM dApps and will provide SHIB holders with more on-chain functionality than ever before. DeFi applications such as borrowing and lending protocols, Web3 games that enable users to earn cryptocurrency while playing, and Shibarium-native NFTs can all be found on the L2.

Shibarium launched in August, and despite some teething problems at the beginning, has now supports more than 1 million wallets. The developer community on Shibarium has also been busy, with 8,333 tokens created and 13,424 total smart contracts being deployed. In less than 3 months since launch, Shibarium has processed 3.42 million transactions.

Recently, Shiba Inu also unveiled Shib Name Service — an on-chain identity solution that provides human-readable nametags for Shibarium users. Shib Name Service works in a similar way to Ethereum Name Service in that it changes wallet addresses from a string of code to a simple, customizable name such as bob.shib.

Shibarium total transactions over time, via Shibariumscan

DoggyDAO partners with global business leaders as Shiba Inu prepares to launch Web3’s “everything app”

The introduction of Shib Name Service helps to improve the user experience for dApps launching on Shibarium, as users will only ever need a single sign-in option that is kept fully secure by blockchain cryptography. An immutable record for each name tag is kept on Shibarium, which provides tamper-proof security and a public record of domain ownership.

It’s thought that Shib Name Service is the first step towards an on-chain “everything app” launching on Shibarium. The project’s pseudonymous founder Shibtoshi Kusama hinted at the development of the everything app as a comprehensive platform for decentralized services, which likely encompasses finance, identification, and a variety of web3 services such as Shib Magazine.

While there remains some mystery about what exactly Shibarium’s “everything app” will look like, DoggyDAO — the organization responsible for executing on Shiba Inu governance proposals — recently partnered with Alpha Transform Holdings. The company has former business leaders from Disney, NewsCorp and Nasdaq on its board, which may provide some insight into the scope and scale of the vision for Shibarium over the coming years.

Shib Name Service, via name.shib.io

Bottom line: Shiba Inu continues to expand the meme coin ecosystem, SHIB token expected to skyrocket post-halving

Shiba Inu’s pseudonymous team has been busy driving progress for the second-largest meme coin by market cap throughout the bear market.

The long-awaited launch of Shibarium was met with instant demand from blockchain users and developers alike, and DoggyDAO’s recent partnership with Alpha Transform Holdings may help Shiba Inu to capture mainstream markets over time.

The recent launch of Shib Name Service is thought to be the first step towards achieving the long-term vision for Shibarium. As things stand, the SHIB price prediction algorithm has forecasted a +680% gain for SHIB by the end of 2024 during a move that would take the meme coin back towards its 2021 all-time high.