In a recent development, the Shiba Inu ecosystem has set its sights high for the year ahead, unveiling an ambitious vision centered around the advancement of Shibarium, its official Layer-2 blockchain platform. In a recent X post, the team behind this crypto project expressed its primary objective for 2024.
Shibarium, launched on the mainnet in August 2023, encountered a sluggish start but has since dazzled observers with its remarkable performance metrics. Processing a staggering 255 million transactions within a mere five months and minting nearly 2.5 million blocks, Shibarium has seen engagement from over 1.32 million wallet addresses, establishing itself as a robust Layer-2 scaling solution.
Despite this success, the platform faced challenges, notably a transaction volume surge leading to a gas fee spike. The team took an unprecedented step by utilizing Shibarium’s power, incinerating over 8.2 billion SHIB tokens from the accrued gas fees. More than 33 billion SHIB tokens have been burned using this method.
The Shibarium team is preparing to launch some exciting new features in the coming weeks. One of these is an automated burn portal that will begin operating this month. Additionally, the team has plans to improve Shibarium’s scalability by implementing a hard fork. This upgrade will increase the block capacity of the platform, allowing it to handle a higher volume of transactions.
Amidst the market’s turbulence, Shiba Inu (SHIB) confronts a dynamic landscape marked by significant volatility, encompassing abrupt fluctuations and unforeseeable changes in investor sentiment. SHIB is trading at $0.000009829, experiencing a 2.41% increase in the last 24 hours and a notable 6.61% decline over the past week.
Instant crypto exchange Changelly predicted a recovery starting today, aiming for SHIB to reclaim the $0.00001 mark by January 5 and potentially reach a monthly high of $0.00001036 by January 10. Looking further ahead, Changelly forecasts SHIB trading between $0.00001499 (minimum) and $0.00001699 (maximum) for the rest of the year, with an average price of $0.0000149985, signaling potential upward momentum for Shiba Inu.
