Shiba Inu Price Prediction: Will Shiba Inu Coin Reach $1 After Shibarium Records 2 Million Transactions? Latest Shiba Inu News While PlutoChain Attracts Whales
January 4th, 2025 at 8:10 pm UTC · 4 mins read
/PlutoChain/ – Shiba Inu’s ecosystem keeps growing, with Shibarium now processing an impressive 600 million transactions and hosting over 2 million wallet addresses.
While SHIB hitting $1 seems mathematically challenging given its massive supply, the project’s evolution from meme coin to functional blockchain is getting attention.
Another interesting project that could gain traction is PlutoChain ($PLUTO).
This Layer-2 solution could supercharge Bitcoin’s performance with smart contracts and reduce its transaction times on its L2 chain. PlutoChain is drawing attention with its presale, exceeding 2 million tokens in sales.
Let’s see what’s going on.
Shiba Inu’s Path to $1 – Can Shibarium’s 2 Million Transactions Fuel Its Rise?
Right now, SHIB is trading at approximately $0.00002164, with a 4.9% downturn in the last 24 hours.
The RSI is currently at around 45, which puts it in the neutral zone.
Currently, SHIB is approaching a critical resistance level at $0.00002631. On the support side, key levels to monitor include $0.0000070 and $0.0000064.
In 2023 Shiba Inu launched Shibarium, its Layer-2 blockchain built on Ethereum. This launch came after months of testing that led to the creation of 21 million wallets.
Shibarium set out to solve key issues like high fees and slow transaction speeds and offer a more scalable and efficient solution for the Shiba Inu ecosystem.
The network gained momentum quickly after its launch. By October 2023, it had processed nearly 10 million transactions in just three days.
This performance demonstrated Shibarium’s ability to handle large transaction volumes and reinforced its value as a key component of Shiba Inu’s transition from a meme coin to a functional blockchain.
In December 2024, Shibarium reached an important milestone with over 2 million wallet addresses registered. This marked significant growth in its user base and adoption.
At the same time, the platform surpassed 600 million total transactions, with 4 million transactions on average per day.
However, for SHIB to reach $1, its market cap would need to skyrocket into the quadrillions, an impossible figure given its circulating supply of 589 trillion tokens.
The path to $1 would require a drastic reduction in supply.
To address this, the Shiba Inu team has introduced token burns, which permanently remove SHIB from circulation. While burns continue to shrink the supply, the current rate isn’t fast enough to make a major dent.
Javon Marks, a crypto analyst on X, highlighted Shiba Inu’s bullish pattern and set a target price of $0.000081, indicating a potential 180% rise.
He pointed to SHIB’s track record of aligning with bullish trends and suggested that the upward momentum may have already begun.
PlutoChain ($PLUTO) Is a Layer-2 Solution that Could Accelerate Bitcoin with Smart Contracts and New Upgrades
Bitcoin has faced challenges with network congestion, slow transactions, and high fees and PlutoChain ($PLUTO) could solve these issues with its hybrid Layer-2 approach.
The way PlutoChain plans to do this is by building a parallel network above Bitcoin’s main blockchain. This setup could reduce traffic on the mainnet, lower transaction fees, and improve scalability.
Bitcoin’s 10-minute block time has long been a limitation and competing blockchains like Ethereum, Solana, and Cardano offer faster transactions and more opportunities for developers.
PlutoChain could cut Bitcoin’s block time to just 2 seconds with its Layer-2 chain, which could allow smart contracts to operate smoothly while leveraging Bitcoin’s secure infrastructure.
This might shift Bitcoin from being a simple store of value to a versatile platform for blockchain innovation.
PlutoChain also supports Ethereum Virtual Machine (EVM) compatibility. Developers could easily migrate their Ethereum projects to Bitcoin, which would create opportunities for DeFi apps, NFTs, and AI-driven projects.
The PlutoChain testnet has already handled 43,200 daily transactions. This shows it’s scalable and ready for real-world use without delays.
The project has completed independent audits with SolidProof, QuillAudits, and Assure DeFi to guarantee its smart contracts and network infrastructure are secure.
PlutoChain also enforces strict internal protocols, including regular code reviews and stress tests. These measures help prevent vulnerabilities and ensure compliance with international regulations.
It also includes a governance feature through which it encourages users to vote on updates, partnerships, and new features.
Final Thoughts
While Shiba Inu’s growth is impressive and its evolution from meme coin to functional blockchain is noteworthy, the path to $1 remains challenging due to its massive supply.
PlutoChain, on the other hand, could stand out as a potentially revolutionary project for Bitcoin’s ecosystem.
By slashing transaction times to 2 seconds with Layer-2 technology and offering EVM compatibility, PlutoChain could transform Bitcoin from a simple store of value into a dynamic platform for DeFi, NFTs, and AI innovations.
The information in this article does not represent financial or investment advice. Always research carefully before participating in the crypto market. Risks are inherent in forward-looking statements, which may not be revised.
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