In a recent X post, the Shiba Inu development team announced that the Shibarium hard fork is scheduled to go live on May 2.

The team noted that this hard fork would introduce several significant changes to the Ethereum L2 network, Shibarium. The hard fork aims to drastically improve transaction processing speeds. After the upgrade is activated, the network is expected to allow faster block production on Shibarium, thus decreasing the waiting time for confirmations. This is important for improving the efficiency and competitiveness of the layer-2 protocol.

The Shiba Inu ecosystem’s layer-2 solution, Shibarium, is experiencing a remarkable surge in adoption and usage. On Tuesday, analysts reported staggering increases in user engagement and transaction volume on the network.

The number of active accounts on Shibarium jumped by an astonishing 80% within 24 hours, exceeding 25,800 active users. This rapid user base expansion highlights the growing interest and utilization of Shibarium’s layer-2 capabilities.

Transaction Volume Soars

Accompanying the influx of new users was a massive spike in transaction volume. Shibarium processed a staggering 958,438 transactions on Tuesday, representing a 128.46% increase compared to the previous day. This surge underscores the escalating demand for the network’s scaling solutions.

Since April 13th, Shibarium has onboarded an impressive 375,124 new wallets to its ecosystem. This influx of new users further cements Shibarium’s position as an increasingly adopted layer-2 platform within the broader cryptocurrency landscape.

Community Optimism Remains High

Despite the breakneck pace of growth, the Shiba Inu (SHIB) community remains optimistic about Shibarium’s trajectory. LucieSHIB, the network’s marketing lead, has actively defended Shibarium’s advancements and reaffirmed the team’s commitment to building a robust and enduring platform.

As Shibarium gains traction, investors, developers, and the broader crypto community will closely watch the Shiba Inu ecosystem’s evolution as potential real-world applications look poised to send SHIB to new highs with bulls eying the $0.001 price point.

Huge Benefits Of Imminent Shibarium Hard Fork

Transaction fees will become more stable, especially during periods of high network traffic, after the hard fork is integrated. This modification is intended to prevent fee hikes that might discourage users from conducting transactions. In other words, the incoming upgrade will make Shibarium network fees more predictable — making it affordable and accessible for all users.

This explosive growth in activity and users points to increasing utility and interest in the Shiba Inu ecosystem powered by the Shibarium layer-2 scaling solution. It will be interesting to see if this momentum continues and what further developments or applications emerge from this project.

Shiba Inu is trading for $0.00002549 at press time, down 1.2% in the past 24 hours.

Arkham Intelligence has provided data on the accounts holding the most Shiba Inu (SHIB) tokens. The blockchain analytics firm also revealed each account’s current balance.

Meanwhile, Shiba Inu developers have announced that the Shibarium layer 2 solution will undergo a transformative hard fork on May 2. 

Meet Top Shiba Inu Holders

Arkham Intelligence has disclosed that the top wallet holding the biggest amount of the second-largest meme coin is the burn SHIB address. It holds 410,418,817,200,312.1 SHIB valued at around $10.33 billion. This figure represents around 41.04% of the total circulating supply of SHIB in the market. Notably, this is one of the wallets where all the burned Shiba Inu tokens are sent and then automatically locked.

One of the major exchange Crypto.com’s hot wallets, with its SHIB holdings of 37,570,344,005,265.1 ($950.5 million), sits in the second position — 3.76% of the circulating supply.

Third place is held by a Binance cold wallet, which currently holds 3.5% of the circulating SHIB supply—35,570,818,784,448.26 SHIB, equivalent to $885.5 million. Binance has previously confirmed in its Proof-of-Fund (PoF) report that it maintains a robust reserve of Shiba Inu.

Popular brokerage platform Robinhood ranked fourth, with its cold wallet holding 31,753,251,930,362.97 Shiba Inu, which is 3.18% of the supply worth $803 million. The Shib team’s wallet occupies the 10th spot on this list, holding 6,397,162,264,908 SHIB meme coins worth $164,920,000.

Huge Benefits Of Imminent Shibarium Hard Fork

In other related news, the Shiba Inu development team announced in a recent X post that the Shibarium hard fork is scheduled to go live on May 2.

The team noted that this hard fork would introduce several significant changes to the Ethereum L2 network, Shibarium. The hard fork aims to drastically improve transaction processing speeds. After the upgrade is activated, the network is expected to allow faster block production on Shibarium, thus decreasing the waiting time for confirmations. This is important for improving the efficiency and competitiveness of the layer-2 protocol.

Transaction fees will become more stable, especially during periods of high network traffic, after the hard fork is integrated. This modification is intended to prevent fee hikes that might discourage users from conducting transactions. In other words, the incoming upgrade will make Shibarium network fees more predictable — making it affordable and accessible for all users.

Shiba Inu is trading for $0.00002549 at press time, down 1.2% in the past 24 hours.

Shibarium hardfork set for May 2, enhancing usability and performance.

Upgrades target improved transaction fee predictability and block processing.

Hardfork aims to boost the transparency of the SHIB burn system and enhance security.

Shiba Inu, the popular cryptocurrency, has announced plans to introduce a hardfork to its Layer-2 solution, Shibarium, slated for activation on May 2nd. This development aims to enhance the protocol by introducing advanced functionalities that boost platform usability and performance.

The upgrade promises to streamline several core processes including block processing speeds and transaction fee predictability. Such improvements are crucial for maintaining user engagement and addressing concerns about fee variations during periods of high network demand. Consequently, the forthcoming changes are expected to make Shibarium more accessible and affordable for its users.

2/ Consider a hard fork as a necessary update to unlock next-level capabilities in our network. This isn't just a technical shift; it's about delivering new value and simplifying engagement with Shibarium.

— Shib (@Shibtoken) April 25, 2024

Enhancing Security and Operational Efficiency

The SHIB team is integrating unique practices into Shibarium to uphold its position as a leader in crypto space. These practices are set to enhance the transparency of the SHIB burn system, a critical factor for the long-term sustainability of the token’s value.

Moreover, the security upgrades included in the hardfork will provide a more secure and robust network, thereby fostering trust and confidence among its users. This focus on security and efficiency supports Shibarium’s aim to continue evolving as a reliable and pioneering blockchain technology.

As news of the Shibarium hardfork spread, the SHIB community has shown positive sentiment, reflected in a 2% increase in SHIB’s price in the last 24 hours. The enhancements from this hardfork are poised to position Shibarium as a more efficient, secure, and user-centric platform, reinforcing its role in the broader blockchain ecosystem.

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The post Shiba Inu Announces Shibarium Hardfork, Set for May 2 Activation appeared first on Crypto News Land.

Shiba Inu has experienced a bullish recovery for over 24 hours, with whales shifting 1.5 trillion SHIB, aiming to sustain an uptick.

SHIB aims to reenter the top 10 coins by market capitalization, currently ranking 11th, with a market cap of $14.9 billion.

The upcoming hard fork for Shibarium is anticipated to enhance efficiency, address fee fluctuations, and potentially drive long-term demand.

Shiba Inu (SHIB) enthusiasts are eagerly eyeing the impending hard fork for Shibarium. This strategic move, slated to debut on May 20, holds promising prospects for bolstering efficiency and stoking demand for SHIB over the long haul.

1/ SHIBARMY, we are on the brink of a transformative upgrade for Shibarium. Through an upcoming hard fork expected to go live on May 2nd, we're introducing a suite of new features designed to enhance user experience and empower our community of innovators and developers.

— Shib (@Shibtoken) April 25, 2024

The recent bullish surge in SHIB’s performance has caught the attention of market watchers, with the meme coin staging a remarkable recovery for over 24 hours. Notably, whales in the SHIB ecosystem have orchestrated substantial shifts, amounting to a staggering 1.5 trillion SHIB within the past day. Such maneuvers underscore a concerted effort to sustain the coin’s upward trajectory, currently valued at $0.00002544 per CoinMarketCap data—a 2.56% increase.

Positioned just outside the coveted top 10 coins by market capitalization, Shiba Inu is poised to reclaim a spot among the elite, with its market cap witnessing a commendable uptick to $14,943,256,400—a surge of over 2%. However, the road to the top echelons faces a significant obstacle in the form of Cardano (ADA), boasting a market cap of $16,808,756,296. Despite this disparity, SHIB’s robust growth rate presents a compelling case for narrowing the gap and potentially surpassing ADA.

In its quest for enhanced performance, Shiba Inu’s ambitions extend beyond market positioning. The impending hard fork for Shibarium holds the promise of addressing crucial challenges, such as optimizing block processing times and rectifying fee fluctuations during peak traffic periods. While the precise impact on SHIB’s deflationary dynamics remains uncertain, proponents of the hard fork remain buoyantly optimistic about its potential to galvanize efficiency and stimulate sustained demand.

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ETH Testnet Upgrade All Green for Shanghai Hard Fork

The post Shiba Inu’s Hard Fork: A Game-Changer for SHIB’s Future? appeared first on Crypto News Land.

An Arkham Intelligence report shows which entities are now on the top 10 list of SHIB holders, and who holder number one is.

Meanwhile, cryptocurrency whales have transferred billions of SHIB between exchanges.

Largest SHIB holder on market revealed

Arkham Intelligence has shared that in first place on its list of the top SHIB holders sits none other than the burn SHIB address. It holds 410,418,816,901,215.06 SHIB evaluated at more than $10 billion. That is 41% of the entire Shiba Inu supply.

Centralized crypto exchange Crypto.com sits in second place, holding 37,570,344,005,265.1 – 3.76%, worth $968,560,000 million in fiat. This is one of the platform’s hot wallets; these addresses are connected to the Internet and are vulnerable to security breaches.

A Binance cold wallet comes in third on this list, and it holds 3.5% of the circulating SHIB supply – 35,000,000,000,000 SHIB equal to $902,300,000. It is followed by a cold wallet of Robinhood trading app, which holds 31,753,251,930,362.97 Shiba Inu worth $818,600,000.

The Shib team’s wallet comes 10th on this list, and there are 6,397,162,264,908 SHIB meme coins worth $164,920,000 in it.

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Whales transfer billions of SHIB

According to the above-mentioned source, over the past few hours, almost 17 billion Shiba Inu coins have been shifted by cryptocurrency whales.

The transactions were mainly conducted as billions of SHIB were withdrawn from Kraken and deposited to OKX.

Upcoming Shibarium hard fork announced

In a tweet published earlier today, the official Shiba Inu X/Twitter account teased the approaching “hard fork” scheduled on May 2. However, this seems to be merely a major upgrade since hard forks traditionally assume the emergence of a new blockchain with an entirely new coin.

The X/Twitter post revealed that the upgrade will allow faster block production on the Shibarium layer-2 blockchain, the transaction fees will become more predictable after the new update is integrated.

Still, nothing seems to have been said about the automated burn mechanism that has been tested on testnet Puppynet since January.

SHIB burns are still being conducted manually, mostly by the SHIB army, with the developer team sometimes joining in when it manages to collect enough BONE off Shibarium transaction fees.

Over the past 24 hours, the burn rate has been negative, going into the red 88.96% with merely 4,422,643 SHIB removed from the circulating supply.

U.Today presents the top three new stories over the past day.

SHIB burns skyrocket 2,076% after recent SHIB announcement

Yesterday, as reported by the Shibburn website, the Shiba Inu community succeeded in considerably increasing the SHIB burn rate. By joint efforts, SHIB enthusiasts sent a large chunk of SHIB, which constitutes 40,067,872 SHIB meme coins, to the inferno. Even though the amount of tokens burned is not outstanding, this has driven the burn rate up by a whopping 2,076%. The largest burn incinerated 20,000,000 SHIB, while the second biggest one destroyed 1,693,629 SHIB. The increase in burn rate took place after Lucie, Shiba Inu marketing lead, teased upcoming developments for Shibarium in 2024-2025. The list included ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, SHIB the Metaverse, K9finance Liquid Staking and Layer-3 testnet.

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XRP brutal reversal: 3 price levels to watch

XRP has recently experienced a brutal rejection at the 200 EMA resistance level. Following an attempt to keep stability, XRP had a sharp reversal from the moving average, indicating a potentially problematic period for the asset. At the moment, XRP is trading at $0.52, a strong support level; in the past, nearly every time the token's price dropped to this level, it has bounced back up. The second price level to watch is $0.47, a longer-term support level. A price decline below this level would pose serious problems for XRP and could signal a deeper and longer-lasting market downturn. The third, yet fragile, price support is located at $0.41 and is considered the last line of defense. If XRP falls to this level, this might lead to a prolonged reversal, which traders hope XRP can avoid. In order to see growth, if XRP is able to hold above these crucial support levels and start rising, it will need to first recover its position above the 200 EMA.

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Nearly $500 million in Ethereum transferred to Justin Sun-linked wallet

According to a recent X post by Lookonchain, yesterday, 0x4359, a wallet allegedly linked to TRON founder Justin Sun, withdrew 7,128 ETH worth $22.34 million from the Binance exchange. Additionally, Lookonchain revealed that since April 8, the wallet in question has acquired 154,570 ETH, valued at $492.23 million, at an average price of $3,177. This significant movement of Ethereum has not only brought attention to Sun's trading activities but also highlighted the bullish sentiment that ETH whales have toward the asset. Despite Ethereum's recent poor performance on the market, with its price trading at $3,116, down 1.05% down over the past 24 hours, whales like Sun continue to show confidence in the cryptocurrency's long-term potential.

The Shiba Inu community is looking forward to reaching a considerable milestone as the development team is getting ready for a critical hard fork on the Shibarium network. Planned for May 2nd, this large-scale upgrade will help to transform the user experience to a new level and strengthen the underlying framework of the rapidly expanding ecosystem.

Enhancing Efficiency and Accessibility

The fundamental purpose of this update is a significant improvement of the transaction speed. The protocol simplifies the validation process leading to quicker confirmations, which means that users do not have to wait for extended periods of time. Furthermore, the heavy fork aspires to solve the problem of variable transaction cost during high traffic days and give a more stable and predictable structure.

The vision of the Shiba Inu group goes beyond just correcting current issues. As outlined in their blog post, “Shibarium Network Hard Fork Update: Faster, Cheaper, and Ready for the Future,” the network is being prepared to scale up massively with the ambitions to welcome the upcoming billion users. In the same time frame, the team stresses not only cost-effectiveness but also user-friendliness, where users may expect the transaction fees to be as less as 0.0000219 BONE ($0.00001).

Fortifying Security and Stability for Shiba Inu

In addition to increasing the efficiency and accessibility as the main goal, the hard fork will also create a strong core and make the network more stable. With better security measures and a more robust structure, the security protocol is guaranteed never to be compromised, thus making the environment stable for transactions to be done.

🧵 1/ SHIBARMY, we are on the brink of a transformative upgrade for Shibarium. Through an upcoming hard fork expected to go live on May 2nd, we're introducing a suite of new features designed to enhance user experience and empower our community of innovators and developers.

— Shib (@Shibtoken) April 25, 2024

In a sequence of several thorough messages on X (Formerly Twitter) and an extended Shiba Inu official blog article, the progress team has emphasized the tremendous power of this transformation step to Shibarium. They indicate that it is not only reducing the technical aspects but it is a strategic extension program that aims for maximizing the overall effectiveness and availability of the network.

Rumors about the SHIB future price trajectory

With the Shibarium upgrade gathering a lot of interest among the Shiba Inu community, investors and fans are predicting the possible consequence on SHIB price. It is hard to tell the exact direction of cryptocurrencies price movements. However, a better user experience, enhanced security features and increased efficiency carried by Shiba Inu as a result of a hard fork could become a trigger for growth of SHIB.

The potential upgrades could result in the influx of developers and users, thus warranting an augmented adoption and demand for SHIB. Furthermore, the absence of unnecessary transaction fees and the modified adoption of advanced technology might cause Shibarium to be the only choice for developers and enterprises. It could be that with the inrush of buyers and sellers, smashing SHIB’s all-time high would become possible, leveraging further speculations of $0.0001 achievement.

With Shiba Inu enthusiasts excitedly anticipating the revolutionary hard fork, the developers still work diligently to have everything in order for seamless integration and fulfillment of their pledged speedier, cheaper and futuristic Shibarium wallet.

Check out the top three news stories over the past day presented to you by U.Today.

Binance to delist six trading pairs

According to Binance's recent announcement from April 24, it will remove and cease trading on six spot trading pairs. The delisting decision follows the exchange's periodic review of all listed spot trading pairs; based on its results, Binance may stop supporting some trading pairs due to low liquidity, trading volume or other reasons. The announcement in question concerns the following pairs: ALPINE/BTC, FRONT/TUSD, HARD/BTC, RUNE/TUSD, SSV/TUSD and WIN/BRL; starting from April 26, at 3:00 a.m., they will be removed from the platform. Similarly, Spot Trading Bot services for the aforementioned spot trading pairs will be discontinued on the specified date and time, as applicable. To prevent any losses, Binance customers are highly advised to update and/or terminate their Spot Trading Bots prior to the discontinuation of Spot Trading Bot services.

Shiba Inu team member shares crucial Shibarium update

Lucie, marketing lead at Shiba Inu and renowned SHIB enthusiast, has recently taken to X platform to hint at what is coming for Shibarium, Shiba Inu's layer-2 solution, in 2024-2025. Among the teased developments for Shibarium in upcoming years are: ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, Shib the Metaverse, K9finance Liquid Staking and layer-3 testnet. "Additionally, fully functional DAOs will be available for all tokens within the Shiba Ecosystem," added Lucie, concluding her update. Although specifics are still undisclosed, the team member's X post has generated buzz and speculation in the SHIB community. Since its launch in August 2023, Shibarium has seen significant growth, reaching 417,309,222 in total transactions, 1,785,549 in wallet addresses and 4,388,404 in total blocks.

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25 billion Cardano (ADA) in 24 hours: What's happening?

Recent on-chain data shows that ADA has experienced a significant rise in activity, with the number of large transactions increasing dramatically. Within a 24-hour period, 25 billion ADA were moved. Such a major increase in the volume of large transactions is frequently indicative of substantial wallet movements by institutional or whale players, potentially indicating preparation for bullish or bearish market developments. The intensity of this activity is further supported by the large transaction volume, which recently peaked at 27.67 billion ADA. Additionally, ADA's price chart demonstrates a tension-filled narrative. Following a downturn, ADA has made some attempts to bounce back, flirting with the 50-day EMA, which is approximately $0.5. However, a clear breakthrough has not occurred. At the time of writing, ADA is trading at $0.4654, down 5.99% over the past 24 hours, per CoinMarketCap.

TL;DR

Shibarium plans further developments, including enhancements to the ShibaSwap platform and the launch of the TREAT governance token.

The L2 blockchain solution experienced a brief network outage but swiftly recovered. It also introduced a new user interface update, improving compatibility with popular self-custody wallets.

Shibarium’s Development in the Next Two Years

Shibarium—Shiba Inu’s layer-2 scaling solution—has made great strides since its launch last summer. Total transactions on the network have surpassed 400 million, while total blocks are inching toward the 4.5 million mark. 

Despite these achievements, the feature is yet to experience some important advancements. Shibarium’s Marketing Strategist, using the X handle LUCIE, outlined that the further development of the DeFi platform ShibaSwap and the application Shiba Hub come first on the list.

The launch of the TREAT token – a governance asset of the upcoming layer-3 blockchain – and an enhanced focus on Shiba Eternity (a mobile game in the SHIB ecosystem) are also included on the agenda.

Last but not least, the team will touch upon K9 Finance – a liquid staking derivative platform for the Shibarium network which allows users to stake BONE tokens.

What’s coming in 2024/2025 for #Shibarium?

– #Shibaswap (version 1.75 followed by 2.0) – #Shibahub – @treatsforShib – #ShibaEternity P2E – @mvshib – @K9finance Liquid Staking – Layer 3 Testnet

Additionally, fully functional DAOs will be available for all tokens within the Shiba… pic.twitter.com/iICIaoi11Z

— | SHIB.IO ‍ (@LucieSHIB) April 24, 2024

Shibarium’s Latest Ups and Downs

The L2 blockchain solution recently witnessed a temporary outage caused by “networking issues amongst the validators.” However, the SHIB developer Kaal Dhairya revealed that the issue was quickly resolved:

“Network is back up and running now, some services like Shibariumscan or external RPCs can still remain down until the steps provided are implemented. If you’re an external team working on infrastructure level for Shibarium ( e.g. RPC etc ) please reach out so that we can streamline comms with you over shared telegram / slack channels.”

Contrary to the brief disruption, Shibarium introduced a new user interface (UI) upgrade, describing it as “faster, smoother, and more accessible than ever.” According to the team, the update has allowed compatibility with popular self-custody wallets like MetaMask, Coinbase Wallet, and Trust Wallet.

If you want to learn how Shibarium aims to foster the development of the Shiba Inu ecosystem and its main purposes, please check our video below:

The post Big News for Shiba Inu (SHIB): Team Member Posts Shibarium Roadmap Hints appeared first on CryptoPotato.

Lucie unveils plans for Shibarium, including ShibaSwap upgrades and Shiba Hub app launch.

TREAT token launch and play-to-earn Shiba Eternity game set for 2024/2025.

The Metaverse launch anticipated; Layer-3 blockchain development progresses with $12M investment.

Shiba Inu, the popular meme-inspired cryptocurrency, has recently outlined its upcoming developments for the Shibarium ecosystem, slated for implementation in the 2024/2025 cycle.

Lucie, Shiba Inu’s marketing lead, took to X to share the project’s ambitious roadmap, which includes a range of new features and upgrades designed to enhance the user experience and expand the ecosystem’s capabilities.

What's coming in 2024/2025 for #Shibarium?– #Shibaswap (version 1.75 followed by 2.0)– #Shibahub– @treatsforShib– #ShibaEternity P2E– @mvshib– @K9finance Liquid Staking– Layer 3 TestnetAdditionally, fully functional DAOs will be available for all tokens within the Shiba… pic.twitter.com/iICIaoi11Z

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) April 24, 2024

One of the most anticipated updates is the release of ShibaSwap versions 1.75 and 2.0, the official decentralized exchange (DEX) of the Shiba Inu ecosystem. These upgrades are expected to introduce new and improved features, further solidifying ShibaSwap’s position as a key player in the DeFi space.

Another exciting development is the launch of Shiba Hub, an app that has been described as “something extraordinary” by the project’s developers. Shiba Hub will serve as a resource center and community forum, integrating seamlessly with the Shibarium ecosystem and providing users with a centralized platform for engagement and information.

Shiba Inu ecosystem gearing up for TREAT launch

The Shiba Inu ecosystem is also gearing up for the public launch of its upcoming token, TREAT. The ecosystem expects this token to play a crucial role, rewarding users who stake SHIB across various liquidity pools and acting as a governance and gas fee token for the project’s upcoming Layer-3 blockchain solution.

The schedule for the release of the play-to-earn (P2E) version of Shiba Eternity, the ecosystem’s collectible card game (CCG), in the 2024/2025 timeframe is sure to please gaming enthusiasts. PlaySide Studios is currently conducting in-house testing for the game to guarantee a smooth and enjoyable user experience during its beta launch in Q2 2024.

Beyond these developments, LUCIE anticipate the debut of Shiba Inu’s metaverse project, SHIB: The Metaverse, in 2024/2025. While the community has been eagerly anticipating the project’s launch, the team behind SHIB: The Metaverse is taking the necessary time to ensure a successful and impactful release.

Furthermore, Shiba Inu is developing its own Layer-3 (L3) blockchain, which recently raised $12 million in an investment round. This privacy-focused L3 blockchain is expected to launch on Shibarium, with its testnet set to roll out in Q3 2024.

According to U.Today, the Shiba Inu community has significantly increased the burn rate of the SHIB meme coin. Data from the Shibburn explorer reveals that over the past 24 hours, 40,067,872 SHIB meme coins have been disposed of. Although the quantity of tokens burned is not extraordinary, the burn rate has seen a substantial increase of 2,076%. The largest burn of the meme cryptocurrency occurred 14 hours ago, with 20,000,000 SHIB being destroyed. Another significant burn happened two hours ago, with 1,693,629 SHIB transferred to an unspendable blockchain wallet.

In other news, Shiba Inu's marketing lead, Lucie, recently shared a list of upgrades set to be launched on Shibarium in 2024 and 2025. These include the SHIB Metaverse, another version of the Shiba Eternity game, and ShibaSwap DEX 1.75, with version 2.0 to follow. New projects planned for Shibarium include a layer-3 testnet and the TREAT token, which will power a new blockchain running on top of Shibarium. To initiate the construction of the layer-3 solution, the SHIB team has raised $12 million from major investors.

Despite these positive developments, the SHIB meme coin has not performed well in terms of price. Over the past 24 hours, the second largest meme cryptocurrency has lost approximately 10.39%. At the time of writing, SHIB is trading at $0.00002458.

TL;DR

Shiba Inu’s layer-2 scaling solution is set for a major update on May 2, aiming to enhance user experience and streamline transaction fees.

The amendment aims to improve the platform’s security, with more details to be shared closer to the launch date.

The Approaching ‘Transformative Upgrade’

The team behind Shiba Inu announced on X that the layer-2 scaling solution, Shibarium, will undergo an important update on May 2 through “an upcoming hard fork.” 

The advancement aims to enhance user experience, empower the community of developers and innovators, implement quicker block processing times, and respond directly to community feedback.

“We are also smoothing out transaction fee variations during high traffic times, making costs more predictable and fair for everyone. This ensures our platform remains affordable and accessible,” the team added.

Shiba Inu’s developers raised hopes that the upcoming changes will make Shibarium easier to use and more “robust and secure.” The update is also expected to boost the efficiency of the burning mechanism, which has witnessed significant progress lately.

Last but not least, the team said the active participation of the SHIB army in such an amendment is “crucial,” adding that more details will be presented “as we get closer to launch.”

Earlier this month, Shibarium underwent another key upgrade. The developers introduced a new user interface (UI), describing it as “faster, smoother, and more accessible than ever.” It enables compatibility with popular self-custody wallets, including Coinbase Wallet, MetaMask, and Trust Wallet. 

Shibarium’s Future Roadmap

Besides announcing the aforementioned essential updates, the Shiba Inu team unveiled the main agenda for Shibarium in the next two years. The network’s marketing strategist, using the X handle LUCIE, said the development of the DeFi platform ShibaSwap and the application Shiba Hub came first on the list.

The launch of the TREAT token (a governance cryptocurrency of the upcoming layer-3 blockchain) and an enhanced focus on K9 Finance (a liquid staking derivative platform for the Shibarium network) were mentioned, too.

Those willing to know how the L2 scaling solution aims to foster the advancement of the Shiba Inu ecosystem can take a look at our dedicated video below:

The post Importnat Shiba Inu (SHIB) Update Coming Up Next Week: Details appeared first on CryptoPotato.

The post Shiba Inu And Dogecoin Prices Face a Rising Bearish Threat: Can Bulls Defend Support Levels? appeared first on Coinpedia Fintech News

Dogecoin and Shiba Inu have experienced mixed performance over the past few days, yet analysts are bullish about the upcoming trend of these memecoins, citing fundamental developments. As Bitcoin price continues to face bearish pressure around the $64K mark, Dogecoin and SHIB prices struggle in initiating a rebound above support level.  

Fundamental Factors Might Boost SHIB And DOGE

Recent large transactions in Dogecoin have drawn attention, with two transactions exceeding 228 million DOGE each, totaling $68.7 million, transferred from an unidentified wallet to Coinbase. 

These could signal upcoming developments, potentially a new listing for DOGE futures on Coinbase. In related news, Shiba Inu has announced an upcoming upgrade for Shibarium, scheduled for launch on May 2. This upgrade aims to enhance the user experience by improving block processing times and transaction fee predictability, making the platform more user-friendly and cost-effective.

Institutional investment in meme coins is increasing, as seen by Symbolic Capital Partners adding Shiba Inu to their portfolio. It now constitutes 2% of their total assets, worth $1.7 million out of $86 million, according to data from Arkham Intelligence. This trend indicates a rising interest from institutional investors in meme coins, which could lead to higher market valuations over time.

These fundamental developments might help SHIB and DOGE prices in triggering a buying momentum above their support lines.

Dogecoin (DOGE) Price Analysis

Dogecoin price has been facing bearish pressure in surging above the immediate resistance channel, resulting in a consolidation around the $0.15 mark. However, buyers continue to defend support levels, holding promises of a comeback. As of writing, DOGE price trades at $0.15, declining over 1.1% in the last 24 hours.

Buyers are struggling to drive the price beyond the resistance area defined by the 200-day EMA and the downtrend line. Should the price drop further, sellers might attempt to push the DOGE/USDT pair down to $0.13.

Conversely, if buyers can push the price through this resistance area, it could indicate the end of the correction phase. The pair might then aim for a climb to $0.21, where sellers are likely to create a strong defense.

Shiba Inu (SHIB) Price Analysis

Shiba Inu is attempting to break the descending resistance line multiple times; however, sellers are strongly defending a surge. As a result, we might soon see a retest of the weekly lows in order to validate a clear trend. Currently, SHIB price trades at $0.000025, declining over 1% in the last 24 hours.

A breakthrough of the trend line indicates an end to the corrective phase, potentially sending the SHIB/USDT pair towards $0.000033, followed by an attempt to reach the strong resistance at $0.000039.

On the other hand, a sharp downturn and break below the $0.000024 could imply that the buyers are liquidating near peaks. This scenario could see the pair declining towards $0.000020.

The world of cryptocurrencies is abuzz with speculation once again, this time centered around Shiba Inu (SHIB), the Dogecoin-inspired meme coin. Prominent Bitcoin investor Armando Pantoja has thrown down the gauntlet, predicting a price surge for SHIB, potentially reaching $0.001 by the end of 2025. This ambitious target has reignited discussions about SHIB’s potential and its ability to carve a niche beyond its meme-coin origins.

SHIB’s past is a story of remarkable growth. In 2021, the meme coin defied expectations, experiencing a meteoric rise of over 800,000%. This phenomenal journey minted crypto millionaires and captured the imagination of retail investors. However, unlike established players like Bitcoin and Ethereum, SHIB’s initial value proposition was primarily driven by its meme status and community enthusiasm.

My #crypto price targets for 2024-2025$BTC: $100k-$250k$ETH: $10k-$15k$XRP: $3-$6$SHIB : $0.001+$DOGE: $1$SOL: $500-$1000$AVAX: $100+$ICP: $100+$INJ: $100-$200$PRO: $10-$20$HBAR: $5-$10

— Armando Pantoja (@_TallGuyTycoon) April 24, 2024

However, the tides appear to be shifting. Recognizing the need for more than just viral appeal, the Shiba Inu team has been actively developing its ecosystem. A central initiative in this effort is the upcoming Shibarium hardfork, scheduled for launch on May 2nd. This upgrade aims to introduce Shibarium, a layer-2 scaling solution designed to address scalability concerns and enhance user experience.

Shibarium: A Potential Ethereum Killer?

The potential impact of Shibarium is drawing comparisons to the highly anticipated Ethereum 2.0 upgrade. Ethereum, the world’s second-largest cryptocurrency by market cap, has long grappled with scalability issues, leading to high transaction fees and network congestion.

Ethereum 2.0 promises to address these challenges by transitioning to a proof-of-stake consensus mechanism, offering faster processing times and lower fees. However, its development has faced delays, leaving a gap in the market for user-friendly alternatives.

SHIB market cap currently at $15 billion. Chart: TradingView.com

Shibarium’s success could position SHIB as a more attractive option for developers seeking to build decentralized applications (dApps). By offering faster and cheaper transactions, Shibarium could potentially lure developers away from Ethereum, especially those focused on projects requiring frequent interactions and lower costs. This scenario could mirror the way Ethereum itself disrupted the dominance of Bitcoin in the early days of decentralized finance (DeFi).

1/ SHIBARMY, we are on the brink of a transformative upgrade for Shibarium.

Through an upcoming hard fork expected to go live on May 2nd, we’re introducing a suite of new features designed to enhance user experience and empower our community of innovators and developers.

— Shib (@Shibtoken) April 25, 2024

A Major Obstacle

Despite the optimism surrounding Shibarium, reaching $0.001 by 2025 remains a significant hurdle. The cryptocurrency market is inherently volatile, and unforeseen events can drastically impact prices. Widespread adoption of Shibarium is crucial for long-term growth, and its success hinges on attracting developers and users to build a robust ecosystem.

As of the time of publication, Shiba Inu is trading at $0.00002459, indicating a decrease of 9% over the previous day. For Shiba Inu to potentially reach a price higher than $0.001 this year, it needs to increase by nearly 4,000%.

Meanwhile, some analysts remain cautious. While acknowledging SHIB’s past gains, they point to the dominance of established cryptocurrencies like Ethereum and the overall market conditions. Platforms like Telegaon offer a more conservative outlook, predicting a maximum price of $0.0000728 for SHIB by 2025, falling short of its all-time high.

Featured image from Pixabay, chart from TradingView

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post Shiba Inu Price Prediction: Can Meme Coin Hit $0.001 This Year? Investor Makes Daring Call appeared first on Crypto Breaking News.

SHIB, a global leader in the decentralized finance (DeFi) cryptocurrency space with millions of users, said today that it has moved its decentralized exchange, ShibaSwap, from Ethereum to the Shibarium blockchain. The change represents the fundamental improvement in ShibaSwap’s evolution into “ShibaSwap,” empowering creators, cultivating relationships, and propelling innovation on Shibarium.Powered by Shibarium, ShibaSwap will provide a range of new decentralized app (Dapp) utilities and decentralized exchange services, such as:

Bridging a range of new tokens that will make them native to ShibaSwap.

Improved liquidity pools and characteristics of decentralized finance (DeFi).

Novel farming contracts created especially to reward early adopters and enduring investors.

Additional discovery location for token launches.

Redefining the potential of community-driven experiences: token voting competitions with incentives.

Through the provision of rewards for purchases and exchanges, SHIB is fostering a strong trading volume, therefore cementing ShibaSwap’s position as the preferred platform for community token transactions in Shibarium. All user types will gain from this as it will create a vibrant and healthy marketplace.

Shiba Inu Lead Developer known as Shytoshi Kusama stated:

“The new ShibaSwap aligns with innovators seeking an outlet for their creative endeavors and Shibizens who value fostering a vibrant and inclusive community. It’s the beating heart of Shibarium, where community tokens flourish. Imagine a vibrant marketplace teeming with unique tokens representing your favorite projects, causes, and fellow ShibArmy members.”

Built on the community-first and environmentally friendly Proof of Participation (POP) consensus process, Shibarium focuses on enabling fast transactions with low gas fees and revolutionizing the blockchain user experience. On Shibarium, anybody may create affordable protocols that improve user experience overall while extending the ecosystem’s potential. The $SHIB and $LEASH tokens, SHIBOSHI NFTs, SHIB The Metaverse, the ShibaSwap DEX, and the Shiba Eternity game are among the other expanding sectors of the Shiba Inu Ecosystem that Shibarium also supports.

The hard fork is aimed at speeding up the network and making it more cost-effective.