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- A successful Shibarium hardfork is ushering in a new era for the L2 network and the Shiba Inu ecosystem, fueling positive community sentiment.
- The hardfork brings “blazing-fast” transactions and “predictable” gas fees to the network, allowing for user optimization.
The Shiba Inu team has announced the successful completion of the Shibarium hardfork. This is a crucial upgrade for the network according to the team, thus garnering investor and community interest. With the successful deployment of the Bor hard fork, the second upgrade of the Heimdall hard fork will look to build on the Shibarium blockchain’s transaction reliability.
In April, developers behind Shiba Inu announced a crucial hard fork for 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.” Additionally, the gas fees will be predictable as the network introduces transaction optimization. The upgrades aim to improve the efficiency of the network, attracting more users to it.
1/ #Shibarium has successfully completed its hard fork at block height 4504576!
Get ready for:
•Blazing-fast transactions! ⚡
•Predictable gas fees! ⛽️ pic.twitter.com/oQrtF3OMTe— Shibarium Network (@ShibariumNet) May 2, 2024
As recently reported by CNF, Shiba Inu’s decentralized exchange ShibaSwap has expanded into Ethereum. The exchange that uses BONE tokens for governance and fee payment, will now operate on both the Ethereum network and Shibarium layer two scaling solution.
Following the news of the network upgrade, Shiba Inu’s SHIB token has recorded an upsurge. At the time of writing, SHIB is trading at $0.00002271 after a 2.5% surge in the last 24 hours.
SHIB has in recent weeks impressed, garnering massive investor interest. The memecoin hopes to challenge Dogecoin (DOGE) which is the far more popular memecoin. At the time of writing, DOGE enjoys a market cap of a little over $19 billion while SHIB sits at $13.1 billion.
SHIB hopes to flip DOGE before the end of the year, based on its growing network and adoption, technological advancements, and increasing partnerships with market leaders. In an effort to realize this goal, Shiba Inu lead developer Shytoshi Kusama has unveiled $12 million in funding via TREAT token for Layer-3 blockchain and Shibarium developments.
In a recent prediction, popular crypto analyst Ali Martinez has shared a bullish prediction on SHIB. The analyst predicts a bullish breakout that ends with the memecoin hitting the $0.000072323 price target. His forecast is backed by a comprehensive technical analysis.
Shiba Inu (SHIB) is flashing a buy signal with its RSI dipping to 29, indicating it’s potentially undervalued. Analysts see this as a “buy the dip” opportunity. Combining this oversold position with analyst Martinez’s bullish prediction paints a promising picture for SHIB’s future price. As the overall crypto market stabilizes, SHIB could attract renewed investor interest and surge in the coming days.
