Shibarium Hard Fork Completed, Will SHIB Bounce Back?
According to the official announcement, Shibarium’s (SHIB) Shibarium Layer 2 network has completed a hard fork. According to the announcement, the hard fork will give way to “extremely fast transactions” and “predictable gas fees”.
Shibarium was launched in August 2023 with much enthusiasm and excitement. Although the launch was highly anticipated, it did not give much impetus to SHIB’s price. The lack of price volatility after the launch could be due to the market conditions in 2023.
Will Shibarium (SHIB) Bounce Back?
SHIB is one of the most popular cryptocurrencies on the market. However, the asset has been struggling to gain momentum recently. Despite a 4.9% gain on the daily chart and a 4.3% gain on the 14-day chart, SHIB has fallen nearly 11% in the past 7 days and 15.4% on a month-on-month basis.
However, the fortunes of Shibarium (SHIB) may soon change. According to CoinCodex, SHIB could break out in the coming days. The platform expects the price of the popular dog-themed cryptocurrency to reach $0.00007812 by the end of the month. Reaching $0.00007812 from current levels would mean a growth of over 241%.
Changelly also paints a bullish picture for SHIB in the coming days. The platform predicts SHIB to reach $0.00007928 on May 30, 2024.
If Shiba Inu (SHIB) is able to maintain the price at $0.00007, it could revisit its all-time high of $0.00008616, which was reached about two and a half years ago in October 2021. Moreover, the new hard fork will increase transaction speeds, which could lead to more adoption and, therefore, higher prices. The hard fork will also bring predictable gas fees, which could drive adoption of the coin.
