Shiba Inu’s blockchain is preparing for a major expansion as Shibarium receives a massive upgrade. The Shiba Inu team aims to improve Shibarium’s efficiency, security, and capacity by implementing the recent advancements of Ethereum.
The developments enhance the network and likely increase the chances of SHIB tokens to rise by 480%.
Major Shibarium Upgrade to Enhance Shiba Inu Performance
The Shiba Inu development team revealed that Puppynet, which is Shibarium’s testnet, is to be expanded at block 4,697,000. This upgrade will take place at 2:30 a.m. ET on Friday and will include Ethereum’s Cancun hard fork and the upgrade of the Bor software to version 1.3.7-bone-beta.
The idea is to enhance the network’s capacity, security, and functionality, in sync with the advancements made in Ethereum.
Shibarium will improve smart contract execution, peer-to-peer networking, and block propagation by utilizing the core software of Ethereum – Geth. The upgrade will also enhance gas fees, thereby allowing for faster and cheaper transactions.
Further, it incorporates a pruning feature that helps in disk space management. This helps maintain a lean and efficient network even as it expands in the future.
Improved Cross-Chain Transfers and Security Measures
The upgrade will also enhance the PoS bridge to enhance cross-chain asset transfer between Shibarium and other blockchain platforms. This improvement benefits those involved in multi-chain operations. How? With the seamless transfer of assets across the networks.
The development team enabled enhanced security by working to improve error management, release vulnerability patches, and fix bugs. Node operators need to update their software to version 1. 3. 7-bone-beta has is added to make the code base compatible with the Cancun hard fork.
This will ensure that no service is cut during the transition and participation in the Shibarium continues without any hitches. According to the team, these changes prepare Shibarium for the future. It will positively impact developers, users, and the ecosystem in general.
Community Vigilance Against Scams and Misinformation
The ShibArmy Scam Alerts, a community-specific group keen on issues affecting the Shiba Inu community, has recently come out to alert the community regarding the need to exercise caution when dealing with cryptocurrency. The group also emphasized that people who moderate channels on platforms such as Telegram and Discord are critical in helping individuals avoid phishing attacks, fake projects, and other scams.
The crypto industry has many imitators and imposters that want to deceive the target audience and make some money. Another threat is the spread of misinformation, fear, uncertainty, and doubt (FUD) that can lead to panic and market instability.
These threats can be prevented by being more cautious, as crypto platform proactively work towards enhance security measures and moderation.
Shiba Inu Price Surge Fuels Investor Optimism
The anticipated Shibarium upgrade has sparked renewed optimism among Shiba Inu investors. Recently, SHIB’s price showed a bullish pattern, rising by 7% over the past week.
Market dynamics and the upcoming technological advancements have drawn investor interest, setting the stage for potential significant gains. SHIB is currently trading at $0.00001386, having surged by 2.90% in the last 24 hours.
SHIB/USD price chart (source: X)
Market analysts are predicting a further upward trajectory for SHIB. They are citing a confirmed breakout from a Falling Wedge pattern on the daily chart.
The target price is set at $0.000081, suggesting a potential 480% increase. The ongoing developments and improvements in the Shibarium network could provide the necessary momentum for SHIB to reach these new heights.
