Shiba Inu’s (SHIB) Ethereum-based Layer-2 network Shibarium may be preparing for an upgrade that could potentially affect SHIB’s price. On April 24, Shiba Inu developers announced the upcoming hard fork. The stated upgrade promises a series of new features to enhance user experience and foster a community. Here’s the latest on the cryptocurrency!
Current Status in Shibarium
The Layer-2 network Shibarium upgrade is scheduled for May 2. This significant update targets variability in transaction fees during peak usage times, aiming to provide better network stability and more consistent and predictable costs.
Additionally, the hard fork will facilitate faster and more cost-effective transactions for Shibarium users. The upgrade also paves the way for more innovation and exploration within DeFi, empowering both users and developers to push boundaries. The company made the following statements about the issue:
These changes will not only make using Shibarium easier but also make it more robust and secure, ensuring the best tools for creation and innovation are at your fingertips. This upgrade will significantly enhance the network’s security and consistency, providing a reliable foundation for the network.
Predictions of a Rise in SHIB
Market analysts view this network upgrade as bullish for SHIB, a cryptocurrency that has faced significant challenges recently. Over the past week, SHIB’s price has dropped by about 10% and about 25% over the last 30 days.
However, there has been an approximate 2% increase in the last 24 hours. SHIB is trading at $0.000025. Analysts predict this upward trend could continue into May, typically yielding a profitability of about 99.3%. If history repeats itself, SHIB’s price could rise to $0.000050 next month.
