• The altcoin market has been following the major cryptocurrencies in their recent rally, with Shiba Inu (SHIB) up 19.5% in the weekly timeframe and 47% in the monthly.
• The strong growth is fueled by external factors as well as the nearing launch of Shibarium, the ecosystem’s upgrade that would bring a list of features for the ShibArmy.
• Chief developer of the Shiba Inu meme coin, Shytoshi Kusama, has been teasing the release of Shibarium since the start of the year, and the nearing launch is driving the price up.
The crypto space has been booming in recent months, with many major coins experiencing a surge in value. However, the altcoin market has been following the major cryptocurrencies in their recent rally, and Shiba Inu (SHIB) is one of those tokens that has maintained a solid performance in the last week. According to CoinGecko, SHIB is up 19.5% in the weekly timeframe and over 47% in the monthly at the time of writing.
This strong growth is fueled by external factors as well as the nearing launch of Shibarium, the ecosystem’s upgrade that would bring a list of features for the ShibArmy. Chief developer of the Shiba Inu meme coin, Shytoshi Kusama, has been teasing the release of Shibarium since the start of the year, and the nearing launch is driving the price up. Kusama recently tweeted a link to the official Shibarium Telegram handle and instructed fellow SHIB developer Trophias to „open the chat“.
Shibarium is set to leverage the Ethereum network’s security while scaling Shiba Inu’s ability to handle transactions. This would lower fees significantly while making the network faster and more efficient. Not only that, but the upgrade would also offer utility as it would mean more SHIB tokens being burnt. As of January 21st, the total burned SHIB is over 410 trillion.
The Shiba Inu community is eagerly awaiting the beta release of Shibarium, with many hoping it will be closer than previously believed. Kusama has been teasing the release for months now and with the recent news, the price of SHIB has been steadily increasing. As the upgrade approaches, the price is expected to continue to climb, making it a great time to invest in Shiba Inu.
