Expert opinion: Shiba Inu capitalization will reach $1 trillion

In recent months, meme cryptocurrency developers Shiba Inu (SHIB) have made several partnerships and updates to their products. These include a partnership with Zama, a company specializing in FHE encryption technology, as well as improvements to the scalability of Shibarium, a Level 2 blockchain.

All these actions have served as a bullish catalyst for the price of the SHIB coin, so some traders expect a rise soon. For example, investor Casey Stubbs predicts that the market value of the token will reach $1 trillion. At the time of writing, the capitalization of Shiba Inu is $11 billion.

What is the reason behind the SHIB phenomenon?

The Shiba Inu team is moving forward, coming up with new ways to attract traders to their project. Now the developers are preparing to launch a coin called TREAT. The asset will play the role of a useful token and management cryptocurrency in the new Level 3 network. Although the name of this blockchain has not been disclosed yet, it is known that it will be privacy-oriented and will be built on Shibarium.

All in all, 2024 can be called a landmark year for dog-themed meme coins. Dogecoin, Shiba Inu, and Dogwifhat have seen over 100% growth, so it’s no surprise that the industry is seeing promising new cryptocurrencies with the Doge mascot. There are now two contenders in the market that are capable of reaching the same heights after launching on exchanges.

Investments in ICOs are always associated with high risk. Developers of a new project or representatives of the platform cannot guarantee the growth of the coin’s value after listing on the exchange.

1

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Cryptogames are particularly popular, and combining these mechanics with memes has long been a recipe for success. Apparently, this is exactly what the developers of PlayDoge (PLAY) thought – a new meme coin that boasts a famous mascot in a classic 2D style.

The asset’s usefulness is expressed through its Play-to-Earn feature, and it is available at a low cost. The pre-sale has already raised $4.7 million, while PLAY can be purchased for just $0.0051.

The crypto-game is based on the 1990s popular Tamagotchi. PlayDoge users who wish to receive the token must care for and nurture their virtual pet. Early investors are also guaranteed the benefit of staking with a projected 154% annualized return.

Many meme tokens could quickly take over the crypto space, but only a small fraction of them offer real utility. Base Dawgz (DAWGZ), unlike its competitors, combines the appeal of “dog memes” with the ability to switch between different blockchains.

Although the token is based on Base, it is compatible with multiple networks at once. Using blockchain bridges such as Portal Bridge and Wormhole, DAWGZ holders can transact and trade the asset on Ethereum, Avalanche, Solana, and Binance.

Author: Saifedean Ammous, an expert in cryptocurrency economics.