On May 2, 2024, Shibarium, the L2 blockchain, will undergo a hardfork that will result in a transaction fee of just 0.0000219 BONE. The upgrade will make the network faster, more cost effective, and better prepared for a growing number of users.
"We are on the cusp of a major upgrade to Shibarium. Users can expect a number of new features designed to improve the experience and empower our community of innovators and developers," reads the official Shibarium page on X.
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Interestingly, this announcement comes just days after the Shiba Inu team announced that Shibarium's UI would be updated to expand support for industry-specific wallet solutions such as MetaMask, as reported by CoinGape.
As a result, the price of the SHIB meme token saw a sharp increase of 4% overnight and continues its upward trend.
According to Shiba Inu's developers, the hardfork is a necessary update to unlock the next level of possibilities in the Shibarium network. The head of Shiba Inu also expressed confidence in the potential of the upcoming update to improve the functionality and security of the SHIB ecosystem. The recent excitement surrounding Shiba Inu has also contributed to investor optimism.
The added momentum has spurred a rush of investment and boosted the confidence of the coin's holders. Over the past 7 days, Shiba Inu has gained over 13%, reflecting investors' confidence in SHIB.
Shiba Inu Marketing Manager Lucie shared information about the upcoming Shibarium upgrade, emphasizing that it will introduce faster transactions, stable fees, and a transparent record system to improve usability and innovation.
It is worth noting that the positive sentiment associated with the Shibarium hardfork gave a boost to the entire crypto market. The token surged on investor optimism, with 22.29 million SHIB tokens burned.
The expected Shibarium upgrade will be a major development for the SHIB community, bringing empowered developers and an improved user experience. High blockchain processing speeds and reduced transaction fees address key user concerns, contributing to a more accessible and efficient ecosystem.
Shiba Inu has positioned Shibarium as a leading platform for decentralized finance (DeFi). The upgrade also improves the security and reliability of the network, attracting new project developers.
While the SHIB community is full of anticipation for the Shibarium blockchain upgrade, the platform encourages active participation to shape the ongoing evolution. Shibarium aims to redefine the future of finance, providing investors and developers with the latest tools and support to push the boundaries of DeFi.
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