The Shiba Inu community has once again taken the broader crypto industry by storm, revealing plans for a major update on Monday. Notably, the meme coin’s team is preparing a strategic upgrade for Shiboshis on Shibarium, as revealed by the coin’s marketing lead recently. Meanwhile, crypto market enthusiasts speculate over SHIB price action ahead in light of recent ecosystem developments.

Shiba Inu Exec Shares ‘Shiboshis Strategic Update’

In an X post by Shiba Inu marketing lead Lucie on October 28, the exec outlined plans for upgrading the Ethereum-based NFTs within the SHIB ecosystem. According to Lucie’s post, “Big things are on the way for Shiboshis on Shibarium.” This statement has sparked considerable optimism surrounding the meme coin among market participants across the globe.

Moreover, the marketing lead specifically rolled out upcoming advancements for Shiboshis, NFTs on SHIB’s layer 2 blockchain. These new features include enhanced utility, exclusive events and rewards, and a more zeroed-in approach to making the NFT a key part of the SHIB ecosystem’s future. Aligning with this endeavor, the NFTs remain poised to gain new features and roles, special events and rewards, thereby marking a monumental stride in the industry.

Further, Lucie also pointed out that the team will focus on lowering gas fees and bridge gradually on the network. Also, “Shiboshi holders are sharing their best tips on how to bridge for as little as $2,” per the SHIB marketing lead.

SHIB Price To Gain Ahead?

Simultaneously, Shiba Inu traded in the red territory today, raising investor speculations on future movements in light of recent developments. SHIB price traded at $0.00001687 at the time of reporting, down roughly 1% in the past 24 hours. The crypto’s intraday low and high were 0.00001683 and $0.00001732, respectively. Today’s waning action aligns with the broader trend in the meme coins sector.

However, crypto market participants remain bullish on the coin’s long-term prospects, primarily attributable to advancements such as the ones mentioned above. Apart from upcoming upgrades for Shiboshis on Shibarium, the meme coin has witnessed a notable reduction in supply, primarily due to a massive surge in the SHIB burn rate. This surge in burn has added a bullish tint to the coin’s future. Additionally, a remarkable growth in Shibarium activity has further added to optimism on SHIB’s future price movements.

The post Shiba Inu Team Eyes Major Update For Shiboshis On Shibarium appeared first on CoinGape.

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Filed under: News - @ October 28, 2024 7:27 am