Shibarium's TVL Growth Could Send SHIB Price Soaring Above $0.0003

The Shiba Inu (SHIB) ecosystem's Layer-2 blockchain, Shibarium

The Shiba Inu (SHIB) ecosystem's Layer-2 blockchain, Shibarium, saw its decentralized finance (DeFi) ecosystem grow by over 7% to reach around $2.9 million in the past 24 hours. In contrast, Ethereum dominates the DeFi space with over $64.4 billion in TVL.

This stark difference begs the question: what could happen to Shiba Inu's price if Shibarium's footprint expands significantly? Notably, Shiba Inu is currently being traded at $0.0000158.

Shibarium's TVL Shows Modest Increase

Shibarium, a layer two blockchain linked to the Shiba Inu ecosystem, is displaying the initial stages of DeFi activity. As per DeFiLlama data, the network experienced a 7.68% rise in its TVL, bringing the total to $2.89 million.

This minimal growth also translates to gains in price for the token. At press time, Shiba Inu is being traded at $0.0000158, showing a 1.6% increase over the last 24 hours. The token has also seen a 22.5% rise in the past week, further adding to its impressive 30% increase over the last month.

For context, Ethereum, on the other hand, is currently holding $64.4 billion in total value locked, processes $2.7 billion in daily decentralized exchange volume, and recorded $2.27 million in chain fees over the last 24 hours. It is also supporting over 446,000 active daily users, showcasing its leadership in the market.

Shiba Inu Price Potential if Shibarium Captures 10% of Ethereum's TVL

If Shibarium were to capture 10% of Ethereum's TVL, it would reach approximately $6.44 billion, which is more than a 2,227% increase from its current value. Such a surge could generate significant demand and utility for SHIB, Shibarium's native token.

"Notably, estimating how high Shiba Inu could rise if Shibarium's TVL surges to $6.4 billion is speculative. However, applying a similar 2,227% increase to the current price of $0.0000158 suggests a potential peak of $0.0003677 for SHIB."

Several analysts have also considered this possibility. For instance, a recent report by Finder surveyed over 26 industry experts, and the average projection suggests that SHIB could reach $0.00035 by 2030.