Shiba Inu (SHIB) Prepares for a Two-Fold Increase as Shibarium Adoption Grows

As Shiba Inu (SHIB) enjoys a two-fold increase on the monthly chart, the second-largest meme coin is eyeing a major leg up.

Shiba Inu (SHIB) price is showing no signs of slowing down as the second-largest meme coin is preparing for a major leg up, crypto analyst Henry says.

As Shibarium adoption grows and token burns become more aggressive, the crypto analyst predicts that the prerequisites for Shiba Inu’s breakout are coming together.

“With Shibarium adoption growing and aggressive token burns underway, the fundamentals are aligning for a potential breakout. There is a huge pump incoming which is going to break all the past levels ATH and will be atleast 790%.”

If this analysis comes to fruition, it could see Shiba Inu rise to the $0.001 zone.

Shiba Inu price has already enjoyed a monthly surge of 29% to trade at $0.00015 at the time of writing.

Shiba Inu has also seen a strong shift in the narrative around its price with stiival in an analysis that the crypto is poised for a breakout as Shibarium adoption grows.

“We're approaching the final stage of accumulation. Shibarium adoption is increasing rapidly with over 11M blocks on Shibarium and 1B+ transactions being processed.”

The crypto analyst predicts that the prerequisites for Shiba Inu’s breakout are coming together as it could spark a rally of 790%.

“With more aggressive token burns and the potential for SHIB price to at least reach $0.001, the fundamentals are aligning perfectly for a breakout. Get ready for a pump so massive, it will break all previous all-time highs.”

Shibarium has been a hot topic in the crypto sphere after it was revealed that the Layer 2 network had breached the 10 million block milestone.

According to Shibariumscan data, Shibarium is rapidly approaching the 11 million block mark, which could herald another period of heightened activity and a new wave of users joining the Shiba Inu ecosystem.

Known for its efficiency, scalability and speed, Shibarium is quickly becoming a core part of Shiba Inu’s strategy to increase the token’s utility.

In other news, a recent report by crypto analytics firm, Santiment, has revealed that Shiba Inu whales have been busy accumulating SHIB in recent times.

According to Santiment, whales, classified as addresses holding 1 million to 10 billion SHIB, have increased their holdings by 1.4 trillion SHIB in just a week. This massive accumulation spree began on August 16.