Shiba Inu Eyes 20% Surge Following Major Shibarium Upgrade

Brace for impact—Shiba Inu's gearing up for a potential 20% rally after its Shibarium network just dropped a game-changing update.

Why This Matters

The upgrade tackles scalability head-on—processing times slash, transaction costs plummet, and network congestion gets bulldozed. Developers finally delivered what they promised months ago.

Market Mechanics

Traders pile in as technical indicators flash bullish signals. Volume spikes 40% in 24 hours—whales aren't sleeping on this one. Shorts get squeezed while long positions stack up.

Broader Implications

Memecoins evolving utility? Shibarium's upgrade might just blur those lines. Suddenly we're talking real-world applications instead of just dog-themed speculation.

Always fascinating how crypto investors will rally behind a network update like it's not just another Tuesday in this circus—meanwhile traditional finance still can't figure out whether to regulate us or join us.

Shibarium TVL jumps amid ShibaSwap hacking concerns

SHIB price rose as DeFi Llama data showed that the total value locked in the network jumped after an important update. The TVL jumped by almost 40% in the last 24 hours to $2.28 million. It rose to the highest point since June this year.

The jump occurred after the developers released a new ShibaSwap upgrade designed to enhance its performance in the DeFi industry. It introduced a unified trading module placed on the homepage.

Hey #ShibArmy! 🎉

We just dropped the brand new #ShibaSwap UI/UX and seriously, it’s the fastest and smoothest experience ever.

Loading is lightning quick, swapping or adding/removing liquidity is super easy, and navigating feels like a breeze.

By the way, there’s a new…

Shibarium also standardized the process of forming liquidity on the network. Most importantly, it enabled the network to become multi-chain, extending it to other chains like Ethereum, Polygon, and Arbitrum. 

Shibarium’s TVL also jumped after an attempted hack on ShibaSwap, the most prominent dApp on the network. In the attack, a hacker used a flash loan to purchase 4.6 million BONE token after accessing validator keys. He then achieved majority validator power and signed a malicious state to drain assets from the bridge. 

In an update, Shibizen noted that only a small amount of ETH/SHIB was moved, and the 4.6 million BONE remained locked and frozen. This explains why the BONE token jumped by over 40% on Saturday.

Shibarium Bridge – Investor Q&A

Was Shibarium hacked?
No. The protocol itself was not compromised. The issue came from stolen validator keys used to push a fake state.

Were funds lost?
Only a small amount of ETH/SHIB was moved. The majority of assets
— including 4.6M BONE —… https://t.co/5BIuR12R6a

Meanwhile, the amount of shiba inu coins on exchanges continued falling. This indicates that investors are not selling.

There are currently over 283 trillion tokens, down from 292 trillion in August. 

Shiba Inu price technical analysis

The daily timeframe shows that the SHIB price has recovered in the past few days, moving from a low of $0.00001170 last week to $0.000015. 

SHIB remains above the ascending trendline that connects the lowest levels since April this year. It has jumped above the 50-day moving average, while the two lines of the Percentage Price Oscillator have moved above the zero line. 

Therefore, the coin will likely continue rising as bulls target the key resistance at $0.00001770, which is a 20% increase from the current level.