The team behind ShibaSwap claimed that the Shiba Inu is available for a price of $1. ShibaSwap, as it is known, is a decentralized exchange (DEX) belonging to the meme coin ecosystem. While this ambitious prediction has the community excited, the team sets a prerequisite for this massive increase to happen.
The ShibaSwap team recently made this statement on their official Twitter account as they try to garner support from the meme coin community: shared:
“The big question is, what if everyone knew that the only way for Shib to reach $1 is max Bone and Shibarium support?”
According to the team’s statement, Shibarium and BONE are considered to be the foundation of the meme coin project. It is worth noting that BONE is expected to serve as a gas token for Shibarium when released. This makes the team see BONE critical enough to serve as the backbone of Shibarium.
Besides, the team considers Shibarium’s capacity to burn SHIB tokens in every transaction as one of the most important factors that could increase the SHIB price to $1.
One of the most attractive features of Shibarium is that it will initiate a permanent burning mechanism. In a comprehensive introductory article on Shibarium published last month, the Shiba Inu team announced that they have developed a dedicated burning portal for the Tier-2 network.
Besides, in response to the Shiba Inu Telegram group, lead developer Shytoshi Kusama confirmed that the goal of Shibarium is to burn trillions of SHIBs. Additionally, he noted that the network will likely bring further development to the Shiba Inu as several projects show interest in using it. Many crypto projects are keenly interested in the update, even though Shibarium has not been released.
You can follow the current price action here.