• July 16, 2024

Shibarium Hard Fork: SHIB Price Poised for Massive Rally, $0.01 in Sight?

In some exciting news for the Shiba Inu community, Shibarium, the core layer-2 network, has successfully completed its very first hard fork. This move is designed not only to make token burns better but also to introduce a new system that can burn multiple tokens at the same time. Meanwhile, there’s a hopeful buzz in the SHIB community about the token’s price potentially reaching $0.01.

The Discord Announcement

Recently, in a lively Discord update, DaVinci shared the news about Shibarium’s hard fork. This announcement got the Shiba Inu (SHIB) community buzzing with anticipation, marking a significant moment for this crypto ecosystem.

The hard fork was set to start at block height 1962000, and even though it’s likely completed (given that Shibarium is now at block height 1987946), the team is yet to give an official update.

Making Token Burns Better

The main goal of this move is to improve token burns, especially for SHIB and ShibaSwap Bone (BONE). Many BONE holders are on board with this, as it helps decrease the overall supply of the asset.

Also Read: Shiba Inu’s Shibarium Hits 5 Million Transactions Sending Shibarium To The Moon

Recent Price Movements

After the fork, ShibaSwap Bone (BONE) saw a nice boost, with a 0.8% increase in the last 24 hours and an impressive 24.7% surge over the week. The 14-day and monthly charts also show significant gains at 24.2% and 8.4%, respectively.

On the other hand, Shiba Inu (SHIB) had a slight dip of 4% in the daily charts. Despite this, SHIB is holding strong with a 16.2% gain over the week and a respectable 13% increase over the past month.

While many support the update allowing BONE burns, some in the community have raised questions. People are wondering why they should sacrifice governance power by burning BONE tokens.

Chasing the $0.01 Dream

The SHIB community has long wished for the token’s price to hit $0.01. Even though it might seem like a big goal given the ample supply of SHIB tokens, the new burn mechanism introduced through the hard fork has brought in a fresh wave of optimism.

Lead developer Shytoshi Kusama emphasizes that along with the technical upgrades, there’s a need for more demand. With more applications launching on Shibarium, there’s potential for increased adoption.

Read More: Shiba Inu Price Prediction: SHIB Price Might See 2x Rally By Mid-December

Burning a significant portion of SHIB tokens in circulation could be a crucial step toward making the dream of reaching one cent more achievable. Shibarium’s hard fork is setting the stage for a transformative journey in the crypto world, where innovation meets aspiration.

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