The Shiba Inu ecosystem and L2 network are entering a new era thanks to the successful Shibarium hardfork, generating positive sentiment within the community. This hardfork introduces “blazing-fast” transactions and “predictable” gas fees, allowing for user optimization.
The Shiba Inu team has announced the completion of the Shibarium hardfork, marking a significant upgrade for the network and attracting attention from investors and the community. Following the successful deployment of the Bor hard fork, the second upgrade of the Heimdall hard fork aims to enhance the transaction reliability of the Shibarium blockchain.
In April, the developers of Shiba Inu revealed plans for a crucial hard fork on their Shibarium network. This upgrade aims to unleash groundbreaking features, enhance the overall value proposition, and streamline user interaction through the power of Shibarium.
According to the team’s announcement, the new upgrades bring “blazing-fast transactions and predictable gas fees.” Furthermore, the network introduces transaction optimization to ensure predictable gas fees. These upgrades aim to improve the network’s efficiency and attract more users.
Shibarium has successfully completed its hard fork at block height 4504576! Get ready for blazing-fast transactions and predictable gas fees!
As previously reported, Shiba Inu’s decentralized exchange, ShibaSwap, has expanded into Ethereum. The exchange, which utilizes BONE tokens for governance and fee payment, will now operate on both the Ethereum network and the Shibarium layer two scaling solution.
Following the news of the network upgrade, the SHIB token has experienced an upsurge. At the time of writing, SHIB is trading at $0.00002271 after a 2.5% surge in the last 24 hours.
In recent weeks, SHIB has garnered significant investor interest, aiming to challenge the more popular memecoin, Dogecoin (DOGE). Currently, DOGE has a market cap of just over $19 billion, while SHIB sits at $13.1 billion.
SHIB hopes to surpass DOGE by the end of the year, driven by its growing network and adoption, technological advancements, and partnerships with market leaders. To achieve this goal, Shiba Inu’s lead developer, Shytoshi Kusama, has unveiled $12 million in funding through the TREAT token for Layer-3 blockchain and Shibarium developments.
Renowned crypto analyst, Ali Martinez, has made a bullish prediction for SHIB, foreseeing a breakout that would see the memecoin reach the price target of $0.000072323. This prediction is supported by comprehensive technical analysis.
The RSI of Shiba Inu (SHIB) is currently at 29, indicating it may be undervalued and presenting a “buy the dip” opportunity according to analysts. Combining this oversold position with Martinez’s bullish prediction paints a promising future for SHIB’s price. As the overall crypto market stabilizes, SHIB could attract renewed investor interest and experience a surge in the coming days.
