In the world of blockchain, change is constant. The Shibarium network is gearing up for a big transformation with two important upgrades: Bor and Heimdall. These changes are expected to make the network much better, which has experts feeling positive about SHIB, the token connected with Shibarium. As the Shibarium Hard Fork approaches—a term for major updates that make older versions incompatible—questions arise.
The big question: Can these upgrades boost SHIB’s value? Let’s dive in to find out!
In the world of blockchain technology, a hard fork marks a significant change in a blockchain’s rules or technology. It’s a permanent update that breaks compatibility with older versions. This kind of upgrade can bring new features, fixes, or improvements to the network. Sometimes, it even leads to a whole new blockchain or cryptocurrency.
Essentially, it is a way to significantly upgrade the blockchain and introduce important changes.
The Shibarium Hard Fork involves major updates to two important parts of the Shiba Inu blockchain: Bor and Heimdall. Bor Hard Fork is scheduled for May 2nd at 2:30 AM EST, followed by the Heimdall Hard Fork on May 3rd at 12:30 AM EST. These upgrades aim to make the network faster and able to handle more transactions. They’re also expected to lower transaction costs, which is good news for users.
Together, these upgrades aim to make Shibarium more stable and reduce the chance of errors.
Before we go deeper, let’s see what experts have to say about how the Shibarium Hard Fork might affect SHIB.
Market experts believe that the Shibarium Hard Fork could be good news for SHIB. Despite recent price drops—around 10% in the past few weeks and 25% over the last month—there’s been a slight increase in SHIB’s price lately. Analysts think this trend might continue into May, which historically has been a good month for SHIB, with an average profitability rate of 99.3%. They suggest that the hard fork could spark more interest and drive SHIB’s value up.
Currently, SHIB is valued at $0.00002211.
In the beginning of April, it was around $0.00002867. It dropped to nearly $0.00002126, in the middle of the month. From there, it slowly picked up and even touched $0.00002692. But, since then, it had been consistently falling till May 1, 2024, when a strong green candle emerged.
On the first day of the year, on 1st Jan 2024, the price of SHIB was just $0.00001063. It had been experiencing a sideways market till late February when it embraced a strong uptrend. The trend lasted till 4th May 2024, pushing the price of the cryptocurrency as high as $0.00003588.
Despite April’s ups and downs, May looks promising for SHIB. The recent increase in price on May 1st suggests strong buyer interest ahead of the hard fork. May has historically been a good month for SHIB, with an average profitability rate of 99.3%.
All in all…
While the Shibarium Hard Fork ignites optimism for a late-February-like surge in SHIB’s value, the cryptocurrency’s inherent volatility remains a key factor. Investors should carefully consider their risk tolerance before diving in, and remember, thorough research is always crucial.
Will history repeat itself? Only time will tell if May brings another profitable month for SHIB.
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