• Shiba Inu is up by more than 29% in the first quarter of 2021, outperforming the Nasdaq 100.
• The boost in its price is linked to the launch of PuppyNet, a beta version of the Shibarium Layer-2 protocol.
• The higher transaction count on Shibarium helps fuel SHIB token burns which have an underlying influence on its price.
Shiba Inu Outperforms Nasdaq 100
Happy shiba inu dog on yellow. Red-haired Japanese dog smile portrait Shiba Inu has outranked the Nasdaq 100 as growth rebounds in Q1. According to public data records, Shiba Inu outperformed the top US tech stock benchmark, the NASDAQ 100 in the first quarter of the year, proving to be a more viable investment option at the time. In the three months that ended on March 31 and even in the year-to-date period, Shiba Inu is up by more than 29% and is currently changing hands at $0.00001083 at the time of writing. On the other hand, Nasdaq 100 shot up by just 17% in the first three months of the year. Notably, digital currencies have a very deep correlation with mainstream US stock market including Nasdaq 100 and S&P 500 Index but crypto assets show higher volatility and thus yield higher growth rates compared to their stock market counterparts.
The PuppyNet Advantage
The performance of popular memecoin Shiba Inu (SHIB) this year has shown that digital currencies might be onto something bigger in 2023. The new push by memecoin to cancel many zeros will be driven by Shibarium protocol as it provides serious boost for SHIB’s prices with its launch of PuppyNet –beta version–of its layer two protocol known as Shibarium Layer 2 Protocols which brings innovative solutions for today’s Web3.0 ecosystem issues . With this move total transactions hit a new All-Time High (ATH) last week thus resulting into SHIB token burns having an underlying influence on its price due to increase popularity amongst developers embracing it within L2 ecosystem which is becoming increasingly competitive with each passing day..
Predictions for SHIB Price Growth
It is expected that Shibarium will get recognition due to innovative solutions offered and it will help drive utility for SHIB tokens consequently leading towards potential price growth predictions for reaching $0.001 mark eventually however there are still no certain signs yet whether or not this prediction will come true eventually or not but only time will tell until then we can only speculate what lies ahead for SHIB prices .
In conclusion Shiba Inu memecoin’s popularity has been increasing significantly since its debut earlier this year thanks largely to Shibarium Protocol’s launch which helped bring about innovative solutions tied specifically towards memecoin users within web 3.0 ecosystem along with ATH transactions last week adding fuel towards underlying influence on SHIB Token Burns helping drive prices further up surpassing even NASDAQ 100 benchmark during Q1 showing promising investment opportunities ahead if predictions hold true .
Godfrey Benjamin (2023). Will It Drive $SHIB To $0,001? Retrieved from https://cryptopolitan.com/shibariun-puppynet-transactions/