2023-8-13 15:19 |
The cryptocurrency world is abuzz with the upcoming launch of Shibarium, a layer-2 scaling solution for the popular memecoin Shiba Inu. While Shiba owners are hopeful that Shibarium will boost adoption and prices, history shows major project launches rarely deliver sustained price increases.
Ethereum’s Shanghai upgrade in 2022 was positioned to significantly improve transaction speeds and reduce gas fees on the network. Yet despite the seemingly game-changing improvements, ETH prices tumbled over 30% in the months after the upgrade went live.
Similarly, Cardano’s long-awaited smart contract capabilities launched in 2021, sparking excitement over the new functionality. However, ADA prices crashed over 65% in the following months as the crypto bear market intensified.
Other major launches like Polkadot’s parachain rollouts, Solana’s switch to proof-of-history, and TRON’s acquisition of BitTorrent generated substantial hype but failed to positively impact prices over the long run.
The common thread is that prices tend to already factor in anticipated improvements ahead of time. Once launches go live, hype diminishes and prices drop absent meaningful real-world adoption and value creation.
As Shibarium approaches, investors should be cautious not to overestimate the potential impact. History shows that major launches rarely boost prices over the long term, especially in down market conditions. While Shibarium may improve Shiba Inu’s capabilities, sustaining positive price action will require substantial and sustained utilization.
Managing expectations and looking beyond the hype is key for cryptocurrency investors assessing the impact of anticipated launches and upgrades. Fundamentals like active users, transaction volumes, and real-world utility ultimately drive long-term prices rather than temporary euphoria over soon-to-be-live improvements.
The price of Shiba Inu (SHIB) is $0.00001054 today with a 24-hour trading volume of $441,642,874.16. This represents a -3.03% price decline in the last 24 hours and a 9.52% price increase in the past 7 days. With a circulating supply of 590 Trillion SHIB, Shiba Inu is valued at a market cap of $6,200,964,175.
The post Think Shibarium Will Moon Shiba Inu? Think Again! appeared first on CaptainAltcoin.
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