Shiba Inu Announces Key Shiboshi Update on Shibarium

• Shiboshi NFTs are getting a major upgrade on Shibarium.
• SHIB price is back in the green zone amid ecosystem developments.

The Shiba Inu (SHIB) team is set to unleash new updates for Shiboshis, Ethereum-based Non-Fungible Tokens (NFTs) on Shibarium. These updates aim to introduce new opportunities and exciting ways to engage within the SHIB community. In light of recent ecosystem developments, community members are now speculating on SHIB’s future price movement.

Key Changes to Shiboshis

Taking to the X platform, Shiba Inu’s Marketing Lead Lucie, outlined new features for the Shiboshis NFTs on the ecosystem’s Layer-2 solution Shibarium. The first feature Lucie highlighted is enhanced utility. This set of features aims to create more value and ways for users to participate in the ecosystem.

SHIBOSHIS STRATEGIC UPGRADE

Big things are on the way for Shiboshis on Shibarium, bringing new opportunities and exciting ways to engage:

1.Enhanced Utility: Shiboshis are set to gain new features and roles, creating more value and ways to participate in the ecosystem.… pic.twitter.com/lVJbZOH3x3

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) October 27, 2024

Lucie highlighted exclusive events and rewards as the second new feature on Shiboshis. This feature incentivizes Shiboshi holders, allowing them to earn and connect within the community. As holders receive rewards, it is anticipated that more users will engage with the blockchain.

Additionally, Lucie pointed out that Shiboshis will play a key role in future expansions across the Shib ecosystem. The team hopes the expansion will open doors for unique interactions and potential benefits for community members.

The Marketing expert further added that the team will focus on lowering gas fees while bridging gradually on the network. She advised users to follow Shiboshi holders on Discord who are sharing their best tips on how to bridge for as little as $2. 

“Take this time to strategize—choose your amounts wisely and aim for those low fees. Smart moves now will set you up to make the most of what’s coming,” Lucie emphasized. Lucie’s post has generated considerable optimism on the memecoin among market participants across the globe.

Meanwhile, the recent update comes only shortly after the team introduced a new game called Shiboshi Rush to the community. As CNF reported, the game takes players on an exciting adventure as the Shiboshi army faces off against the Shadowcat army.

Is SHIB Set for a Bullish Rally?

The recent ecosystem development has reverberated positively in SHIB as the price shows signs of rebound. As of this writing, SHIB is trading at $0.00001705, which is up 3% in 24 hours. The 24-hour trading volume also jumped by 25.15% to $197.3 million, indicating investors’ renewed interest.

Crypto market participants remain bullish on the memecoin’s long-term prospects, primarily attributable to recent advancements, crypto whale actions, and a favorable chart setup. 

Besides these factors, SHIB has witnessed reductions in supply due to a massive surge in the token burn rate. This increase in burn has helped to cast a positive light on the coin’s future. Speculations regarding an Exchange-Traded Fund (ETF) have increased optimism on SHIB’s future price movements.

As CNF mentioned earlier, Lucie has voiced her opinion that a SHIB ETF may be issued soon. Analysts estimate that SHIB’s market capitalization might increase by an additional $315.65 billion if a potential ETF receives 50% of Bitcoin’s capital inflows.