Shiba Inu Speeds Up Transactions with Shibarium Bridge Upgrade

Shiba Inu’s Layer-2 solution, Shibarium, has implemented a significant upgrade that reduces bridge transfer times between Shibarium and Ethereum from a sluggish seven days to a zippy 45 minutes. This improvement aims to enhance user experience and boost overall efficiency within the Shiba Inu ecosystem.

Previously, the week-long wait time was intended to encourage users to stay within Shibarium’s Layer-2 environment, fostering network stability. Recognizing the need for faster transactions, Shibarium revamped the system to cater to a more dynamic market.

Benefits of the Shibarium Upgrade

• Faster Asset Management: Users can now manage their SHIB and BONE tokens with unprecedented speed, enabling them to react to market fluctuations and seize opportunities in real-time.
• Improved User Experience: This upgrade goes beyond a technical tweak; it significantly enhances user experience within the Shiba Inu ecosystem, particularly for those engaged in time-sensitive financial activities and application development.
• Increased Participation: Faster transactions could potentially attract more developers and users to the Shiba Inu ecosystem, leading to greater innovation and participation.
• Smoother Governance: Efficient asset movement can facilitate swifter participation in the Shiba Inu’s governance process.

BONE Token and K9 Finance See Positive Impact

Shibarium’s TVL (Total Value Locked) witnessed a 17% surge following the bridge upgrade. BONE token trading volume jumped by 15% due to the reduced transfer time. K9 Finance’s KNINE token, part of the Shiba Inu ecosystem, skyrocketed by over 58%.

Shiba Inu Chasing Cardano

Shiba Inu (SHIB) is currently in ninth place by market capitalization, surpassing Cardano (ADA). SHIB’s price has risen by 9.2% over the past week, breathing down the neck of its meme coin rival, Dogecoin. Despite recent gains, SHIB remains significantly below its all-time high.

Shiba Inu’s market capitalization recently surpassed $16 billion, closing the gap with Cardano’s market cap. SHIB boasts significantly higher trading volume compared to ADA, indicating more active users. SHIB’s price trend suggests a bull run, while Cardano faces resistance and potential downtrend.

Is the Memecoin Rally Over?

Major meme coins, including SHIB and DOGE, have experienced some pullbacks after recent surges. Regulatory scrutiny and scam concerns may be dampening the meme coin market.