Shibarium achieved a significant milestone by completing a successful hard fork, generating excitement within the community and driving a rebound in SHIB prices.
Following the Bor hard fork, the blockchain’s second upgrade, Heimdall, aims to enhance transaction reliability and enable the network to achieve ‘deterministic finality’. Traders swiftly responded to the hard fork, propelling SHIB prices to an intraday high of $0.00002345 as momentum shifted upward.
Shiba Inu’s Hard Fork Milestone
At block height 4504576, the Shiba Inu team celebrated the successful completion of a crucial hard fork. The official Shibarium Network account on X shared the news on May 3, reaching out to the broader crypto community to highlight this significant milestone.
The hard fork marks a pivotal moment for Shiba Inu, as it aims to optimize its blockchain infrastructure for future growth and adoption. This upgrade focuses on enhancing network performance, streamlining transaction processing, and laying the groundwork for scalability.
“Get ready for blazing-fast transactions and predictable gas fees,” announced Shibarium Network, underscoring the goal of improving network efficiency and introducing new functionalities to support scalability. These upgrades aim to address previous synchronization issues, reduce gas fees, and achieve deterministic finality on the Shibarium network.
The Shiba Inu team is actively exploring innovations in the Web3 and decentralized finance (DeFi) space. Notably, Shiba Inu’s decentralized exchange, ShibaSwap, recently migrated from Ethereum to Shibarium, introducing new DeFi features and opportunities.
Shytoshi Kusama highlighted the team’s success in securing $12 million in funding from market leaders for layer-3 blockchain and Shibarium developments. This investment underscores the commitment to driving innovation and growth within the Shiba Inu ecosystem.
Whale Accumulation Drives SHIB Price Reversal
SHIB price experienced a turnaround as whales began accumulating the meme coin during its dip. Over the past 24 hours, the price surged by 6%, currently trading at $0.00002303. The coin’s price fluctuated between $0.00002176 and $0.00002343, marking a notable uptick.
Even though SHIB’s price went up by 6% in the last day, there was a 22% decrease in trading activity. This suggests that traders might not be as interested in the coin as before. Some experts think that because big investors are buying a lot of SHIB, its price could reach $0.0001. However, they also say that there might be a short period where the price goes down again before it starts going up consistently.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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