Shiba Inu: Shibarium Hard Fork Complete, Will SHIB Rally?

Paigambar Mohan Raj
Shiba Inu Rainbow Clouds
Source: Watcher Guru

According to an official announcement, Shiba Inu’s (SHIB) Shibarium layer-2 network has completed its hard fork. According to the announcement, the hard fork will give way to “blazing fast transactions” and “predictable gas fees.”

Also Read: Shiba Inu: $1 Monthly Since 2020 is Worth $1.2 Million in 2024

Shibarium launched in August 2023 with much enthusiasm and excitement. Although the launch was much awaited, it did not do much to push SHIB’s price. The lack of price movements upon launch could have been due to the market conditions in 2023.

Will Shiba Inu (SHIB) rally?

shiba inu game lights shib
Source: LinkedIn

SHIB is one of the most popular cryptocurrencies in the market. However, the asset has struggled to gain momentum of late. Despite a 4.9% rally in the daily charts and a 4.3% rally in the 14-day charts, SHIB is down nearly 11% in the last seven days and 15.4% over the previous month.

Also Read: Shiba Inu (SHIB) To Rally 227%, Hit $0.000072: Predicts Analyst

Source: CoinGecko

However, Shiba Inu’s (SHIB) fate may soon change. According to CoinCodex, SHIB could break out over the next few days. The platform anticipates the popular dog-themed crypto to hit $0.00007812 by the end of this month. Reaching $0.00007812 from current levels would translate to a growth of over 241%.

Source: CoinCodex

Changelly also paints a bullish picture for SHIB over the next few days. The platform predicts SHIB to hit $0.00007928 on May 30, 2024.

If Shiba Inu (SHIB) can hold prices at $0.00007, it may reclaim its all-time high of $0.00008616, which it attained in October 2021, about two-and-a-half years ago. Furthermore, the new hard fork will increase transaction speeds, which may lead to more adoption and, thereby, higher prices. The hard fork will also lead to predictable gas fees, which may drive the token’s adoption.