Here’s What Shiba Inu (SHIB) Price Could Do After the Shibarium Overhaul

The Shiba Inu price is moving again. Traders and Shibizens are watching closely as the coin reacts to what’s happening in the market and with the network.

On March 23, things calmed down in the Middle East. That sparked a rally in meme coins. SHIB jumped about 8%, and trading in derivatives picked up. It shows meme coins like SHIB are still sensitive to big world events, when tensions ease, prices often get a quick boost.

Also, SHIB’s burn rate shot up 637%. That took over 8 million SHIB tokens out of circulation for good. This accelerated the deflationary narrative around SHIB, tightening supply and providing a natural price support. 

However, not everything is smooth, today, the SHIB price failed to hold above a key moving average for the third time, liquidating over-leveraged longs and signaling persistent resistance.

Shibarium Upgrade Strengthens the Network

Amid all this, the Shibarium team has shared a major backend update. The network has completed a large-scale server migration, improving stability and infrastructure. 

However, a full blockchain re-indexing is underway, rebuilding the explorer from the ground up. Metrics are gradually catching up to real network data, providing more accurate insights into Shiba Inu (SHIB) activity.

This upgrade is not just technical housekeeping, it lays the groundwork for future development. With Shibarium’s upgrades, there are now quicker transaction processing, accurate data from the explorer, and a platform primed for complex projects.

Moreover, there are also developments in the Shiba Inu ecosystem, and these are now focused on Layer-3 projects on Puppynet, such as Shib Alpha and ShibClaw. 

These upgrades are meant to bring new and exciting things to the Shiba Inu network, from quicker and more efficient transaction processes to complex smart contract projects.

With the involvement of key developers and the Shiba Inu community, there are now vision and execution for these projects. If these Layer-3 projects are successful, there could be an enhancement in the overall utility and perception of the Shiba Inu coin.

Read Also: Analyst Claims Bittensor (TAO) Could Outvalue Bitcoin (BTC): Here’s Why

SHIB Price Outlook

SHIB is sitting at $0.000006141 right now.

With everything going on, the token burns, global events, and the network upgrades, it could easily hit $0.0000065 in the coming days. If Layer-3 adoption picks up, it might even push to $0.0000069.

That said, if the SHIB price drops below $0.0000059, it’ll probably fall to $0.0000057. That’s a key support level to watch.

Now that Shibarium’s overhaul is done and Layer-3 projects are on the horizon, SHIB’s price could see some pretty big swings in the days ahead.

Traders should watch both technical resistance levels and network adoption signals to gauge the next major leg of the rally.

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