Huge Shiba Inu (SHIB) Upgrade Imminent: Details

TL;DR

• Shibarium is set for a new upgrade promising exclusive events, rewards, and enhanced utility for future expansion.
• SHIB rallied 9.5% daily as meme coins gain momentum, with other top performers including DOGE, WIF, and PEPE.

‘Big Things on the Way’

Shiba Inu’s layer-2 blockchain solution – Shibarium – saw the light of day last summer with the main purpose of fostering the ecosystem’s development. Since then, it has completed multiple achievements and underwent numerous upgrades.

Most recently, LUCIE (Shibarium’s Marketing Strategist) revealed that another advancement is on the way. It aims to bring new opportunities for users, such as exclusive events and rewards. The upgrade will also enhance the utility of the L2 network and allow for future expansion.

“Shiboshis will play a part in future expansions across the Shib ecosystem, opening doors for unique interactions and potential benefits,” the announcement reads. 

The previous upgrades unveiled earlier this year include a new user interface (UI) update that enables compatibility with popular self-custody wallets and a hard fork that empowers the community of developers and innovators.

Last but not least, Shibarium embraced a designated “Burn Portal.” The primary goal is to decrease the circulating supply of Shiba Inu (SHIB) by transferring a portion of tokens to a null address, making it more scarce (and possibly more valuable if demand remains steady or increases).

SHIB Price Outlook

Shibarium’s development is sometimes closely related to the price performance of the meme coin. SHIB experienced a 9.5% rally in the last 24 hours, while its market capitalization surpassed $11 billion once again.

The revival aligns with the overall bullish environment in the sector, with Bitcoin (BTC) crossing $71,000 for the first time since June.

The meme coin niche took center stage, too. Dogecoin (DOGE) is up 16% for the day, while Popcat (POPCAT) hit a new all-time high of $1.75. Other notable gainers include dogwifhat (WIF), Pepe (PEPE), Floki Inu (FLOKI), Brett (BRETT), and more.