• Shiba Inu (SHIB) has seen a strong performance with a 19.5% increase in the weekly timeframe and 47% increase in the monthly timeframe.
• The strong growth is fueled by the impending launch of the Shibarium upgrade, which would bring a list of features for the ShibArmy.
• Chief developer of the Shiba Inu meme coin, Shytoshi Kusama, has been promoting the notion that the release of the Layer 2 scaling solution may be closer than previously believed.
The altcoin market has been experiencing a surge in recent weeks, with many of the major cryptocurrencies seeing a rally. Amongst them is Shiba Inu (SHIB), which has seen a steady rise in price and is currently up 19.5% in the weekly timeframe and over 47% in the monthly timeframe, according to CoinGecko. Investors and traders have been eagerly awaiting the launch of the Shibarium upgrade, which is set to bring a range of features for the ShibArmy, and it appears that the launch is closer than previously believed.
The upgrade will leverage the Ethereum network’s security while scaling the Shiba Inu network to increase its ability to handle transactions. This would lower fees significantly and make the network faster and more efficient. Additionally, it would bring more utility to the token as it would mean more SHIB tokens being burnt. As of January 21st, the total burned SHIB is over 410 trillion.
The chief developer of the Shiba Inu meme coin, Shytoshi Kusama, has been actively promoting the notion that the release of the Layer 2 scaling solution may be nearer than previously thought. He recently tweeted a link to the official Shibarium Telegram handle and instructed a fellow SHIB developer to “open the chat”. This has caused excitement among the Shiba Inu community who are eagerly anticipating the release of the upgrade.
Shibarium is set to be a major upgrade for the Shiba Inu token, and its release is sure to bring with it a surge in price. With the launch date appearing to be imminent, investors and traders are keeping a close eye on the digital asset and are sure to be on the lookout for any updates from the development team.