Shiba Inu (SHIB) has been recording notable gains this month that have stemmed not only from the bullish sentiment across the broader crypto market but also from the growth of Shibarium’s TVL, which is approaching the $4 million mark. As this layer two network records a surge in usage and adoption, can it capture 10% of Ethereum’s $90 billion TVL, and what would be the impact on Shiba Inu price?
Shiba Inu Price Today
Shiba Inu price trades at $0.0000163 today after recording an impressive 8% gain in 24 hours. The SHIB rally faced rejection at $0.000017, but if it can breach this level and extend the upward trend, it may reach the January 2025 highs of $0.000020.
Shiba Inu’s gains come as the Ethereum-based meme coin continues to track ETH price. The latter has been among the top performers in the last seven days, with a 40% increase. SHIB’s upward trend in the last seven days has also been fueled by the Shibarium network growth that has added more than $1.5 million to its TVL in just a month.
This growth and the subsequent gains in SHIB price have driven speculation on whether the layer two network is the key to Shiba Inu hitting the $0.001 and $0.0001 price targets.
If Shibarium Captures 10% of Ethereum TVL
Ethereum currently has a TVL of nearly $90 billion according to data from DeFiLlama, which means that if Shibarium captures 10%, the layer two network would have a $9 billion TVL. This indicates that the network’s TVL would have to grow by over 2,000 times from the current $3.79 million to reach ETH.
Grok3 notes that while such growth is not realistic and would require heavy adoption, it would trigger notable gains for the Shiba Inu price. It notes that the top meme coin price will rally to between $0.00015 and $0.00075 if Shibarium’s growth triggers massive burns. DeepSeek also states,
“If Shibarium becomes a major Layer 2, SHIB could aim for $0.0001 (5x), but this depends on sustained adoption.”
While these estimates show that Shibarium’s growth is the key to SHIB price gains, the layer two network attaining 10% of Ethereum’s TVL is not realistic. So far, only Solana has been able to achieve this with its $11 billion network value.
Shiba Inu Eyes $0.00002 Amid Rounding Bottom
While Shibarium may be the main trigger that pushes SHIB price to the $0.0001 psychological level, the weekly chart also shows a bullish Shiba Inu price prediction, after the meme coin formed a rounding bottom pattern and overcame resistance at the $0.000016 neckline.
If Shiba Inu can confirm a weekly close above this neckline level, it will likely fuel a 55% rally for this token to $0.000024, which is equivalent to the height of this rounding bottom.
Meanwhile, the weekly RSI has moved above 50 for the first time since mid-January, which shows that the bullish momentum is gaining strength and the SHIB meme coin may rebound. The red AO bars also confirm that bears are growing weak, and if this indicator crosses to the positive side, it will fuel the breakout for Shiba Inu price towards $0.000024.
To sum up, a growth in Shibarium’s TVL will play a major role in supporting a SHIB price rally to the $0.0001 psychological level, but achieving 10% of Ethereum’s TVL remains unlikely in the near term. However, a bullish technical outlook portrayed on the weekly chart shows that a 55% price rally looms that may push Shiba Inu to $0.000024 in the coming weeks.
The post How High Will Shiba Inu Price Rally if Shibarium Captures 10% of Ethereum $90B TVL appeared first on CoinGape.
