How High Can Shiba Inu Go if Shibarium Captures 10% of Ethereum’s TVL?

The Shiba Inu (SHIB) ecosystem’s Layer-2 blockchain, Shibarium saw its decentralized finance (DeFi) ecosystem saw an over 7% increase in total value locked (TVL) to around $2.9 million in the past day. In contrast, Ethereum dominates the DeFi space with over $64.4 billion in TVL.

The gap raises questions about what could happen to Shiba Inu’s price if Shibarium’s footprint expands significantly. Notably, Shiba Inu is trading at $0.0000158 as of press time.

Shibarium, a layer two blockchain tied to the Shiba Inu ecosystem, shows early signs of DeFi activity. DeFiLlama shows the network’s TVL rose to $2.89 million after a 24-hour jump of 7.68%. This marks a positive but still modest development for the ecosystem.

This modest growth also translates to gains in price for the token. As of this press time, Shiba Inu is currently trading at $0.0000158, a 1.6% rise in the past day. The token has now risen by 22.5% in the past week, increasing its impressive monthly run to 30%.

For context, Ethereum, by comparison, holds $64.4 billion in total value locked, processes $2.7 billion in daily decentralized exchange volume, and recorded $2.27 million in chain fees over the past day. It also supports over 446,000 active daily users, reinforcing its market leadership.

If Shibarium were to capture 10% of Ethereum’s TVL, it would reach approximately $6.44 billion, an increase of more than 2,227% from its current value. Such a surge could significantly impact the demand and utility of SHIB, Shibarium’s native token.

“Notably, estimating how high Shiba Inu could rise if Shibarium’s TVL surges to $6.4 billion is speculative. However, applying a similar 2,227% increase to the current price of $0.0000158 suggests a potential peak of $0.0003677 for SHIB.

Several analysts have considered this possibility. For example, a recent by Finder surveyed over 26 industry experts, with the average projection suggesting SHIB could reach $0.00035 by 2030.