Key Insights:
Shibarium forms a key partnership with Chainlink to take the Shiba Inu ecosystem (SHIB, BONE, LEASH) to more than 12 blockchains.
Increased exposure would grant better liquidity access to Shiba Inu and Shibarium.
Shiba Inu could also see a greater adoption rate as users could take it to their preferred blockchain wallet.
Chainlink has been a critical player in developing cross-chain solutions and has previously helped USDC to go multichain.
Shiba Inu and Chainlink have undergone a partnership where ecosystem tokens like SHIB, LEASH, and BONE could be easily transferred across 12+ chains with the help of Chainlink's Cross Chain Interoperability Protocol (CCIP).
This move would grant increased exposure to Shiba Inu, which could see greater adoption, and for Chainlink, it would firmly establish it as the premier cross-chain solution.
The move is well-thought-out, as it would future-proof Shiba Inu. In 2025, the demand for cross-chain cryptocurrencies is expected to rise, and cryptos that do not follow this path risk falling into obscurity.
Reacting to the event, Shiba Inu lead developer Shytoshi Kusama expressed his hope that this partnership would be successful.
Going multichain would only help Shiba Inu, Bone, and Leash cryptos in the long run. Though most of the gains will directly flow to Shiba Inu, Bone will benefit as a governance token and Leash as its reward token.
At present, Shiba Inu commands a market cap of $12 billion and, at press time, was trading around $0.00002032.
Shiba Inu's Cup and Handle Pattern on Weekly Charts
Tradingview
Shiba Inu could only continue its bull rally in 2025 if it crosses the resistance at $0.000035. Otherwise, the price may consolidate at current levels for a while. This consolidation is also supported by the recent decline in SHIB's RSI in weekly charts, which has seen a downtrend from 71 last week to 48 at press time.
Another possible scenario for Shiba Inu is the formation of a cup-and-handle chart pattern on weekly charts. If this pattern forms, Shiba Inu could easily cross $0.00022 in 2025, a level 1100% away from current levels.
This massive rally could establish Shiba Inu as the leader of memecoins in 2025.
Besides the obvious benefit of increased liquidity, going multichain has several other benefits, especially in fulfilling Shiba Inu's goal of becoming a utility token.
Multichain cryptocurrencies are easier to take into self-custody because the user has their own choice of blockchain. Some might prefer the security of Ethereum, while some could prefer the low fees and ease of use of Layer-2 chains like Base.
Further, with multi-chain cryptos, it is easy to access the DEXs of other chains and not remain limited to just native DEXs.
It will also help users invest small amounts in SHIB with dollar cost averaging and other investment methods.
Another key benefit of going multichain is that after a rise in adoption, SHIB could see greater burn volumes that could help it limit its token supply in a much better way.
Chainlink has seen a growth in its dominance in the cross-chain market because of its earlier success with USDC, which started with just 5 chains.
At present, it provides service to over 21 blockchains, including Ethereum, Solana, and top layer-2 chains. Multi-chain protocols make it easy for the end user to use different chains for custody and for daily usage.
CCIP Supported Chains
Chainlink
In the future, the demand for multichain solutions is expected to grow manifold because most of the blockchains today are mere silos, with a few of them supporting cross-chain operations. This situation is undesirable because it hinders many people's crypto adoption.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.