Shiba Inu is basically a dog-themed altcoin that is considered a decent alternative to Dogecoin. Despite market volatility, mainly due to major tokens such as BTC and ETH, the value of SHIB continues to fluctuate. ShibaSwap is a DeFi platform that has all the essential elements of a decentralized exchange, DEX. The Shiba Inu team is working to release a v2 version in the future, which is causing both optimism and ambivalence within the community.
This article explores the impact on the price of SHIB, highlighting both sides.
potential positive impact
For reference, SHIB is currently trading at $0.000009065 and is up 1.83% in the last 24 hours. This reflects a rise of 2.52% over the past 7 days and a decline of 16.05% over the past 30 days. The community expects the value of the token to increase with the introduction of ShibaSwap v2, and the reasons for this are as follows:
- increased utility
Sivaswap v2 It offers new features and functionality including NFT integration, burning mechanisms, staking, and more. This is enough to attract a larger number of users and increase adoption of the Network Plus token. - improved liquidity
More users will improve the liquidity of the network and drive price stabilization. A rise in valuation is also considered natural. - Community Hype
The mere introduction of ShibaSwap v2 sparked a lot of interest in the community. The buying trend has increased despite the fact that 24-hour trading volume has not. - Shiba Inu ecosystem growth
This is based on the assumption that the release of v2 will be successful. Benefits are presented across the ecosystem to drive adoption and attract the attention of developers in addition to users. Again, for these benefits to be realized, the launch of ShibaSwap v2 must be successful.
Any factor that matches the brighter picture will pave the way for SHIB to move one step closer to strength. Shib prediction. According to estimates, the token is expected to reach the $0.0000250 milestone by the end of this year, 2024.
potential negative impacts
Another side to the story is that development can have negative impacts. It is conditioned to occur only if ShibaSwap v2 fails or occurs without substantial market notice.
- Delays or challenges
Either situation will hinder the community’s expectations of other developments. Technical issues have already become the biggest negative factor. - unmet expectations
ShibaSwap v2 should meet reasonable expectations. One way to avoid disappointment is to set boundaries against unreasonable expectations. - overall market situation
The overall sentiment in the market will contribute to the development of the Shiba Inu ecosystem.
Enthusiasm within the Shib Army does not acknowledge the potential negative impacts. But you need to keep this in mind to avoid disappointment.
conclusion
Uncertainty will continue until Shiba Inu does not release ShibSwap v2. Considering the cryptocurrency sector is recovering from selling pressure, token prices could eventually skyrocket. We recommend that users do their research before starting or expanding their presence in the Shiba Inu ecosystem.