Shiba Inu (SHIB) Price Action Outlook: Will the New Shibarium Upgrade Bring a Significant Upsurge?

Shiba Inu (SHIB) price has remained flat. It was around $0.00001760 amidst the market excitement for a Shibarium major upgrade ahead.

Shiba Inu (SHIB) price remained flat on March 23, 2023, as it hovered around $0.00001760. However, SHIB price is gearing up for a significant upswing amid the excitement for a major Shibarium upgrade ahead.

As developments in its ecosystem continue, several activities are set to be released in Shibarium and ShibaSwap. For instance, the community has been awaiting the rollout of the new TREAT token in the given ecosystem. Lucie is the marketing lead at SHIB.IO. She believes this is a new staking enhancement, also known as Bury 2.0.

According to Lucie, the activities will benefit all the stakeholders. Stakers with short lock-up periods will be rewarded a small amount. On the other hand, those staking for longer periods on Shibarium will earn significant rewards. Hence, the more it takes, the higher the payoff expected from staking.

Moreover, staking for longer periods provides an influence ratio in the planned Shiba Inu DOGGY DAO 2.0. They will assist in making decisions about the course that future endeavors should take.

Shibarium investors who lock their SHIB tokens for the long term will also be eligible for rewards, including airdrops and perks.

Developers of Shiba Inu Shytoshi Kusama and Kaal Dhairya had to call upon the Ethereum co-founder on X. In two different posts, the developers had implored Buterin to accept another $1 Billion donation. In 2021, Buterin contributed to the issue of COVID relief in India.

They also stated that the Shiba Inu price increased because of the donation. However, a commendable reaction was followed by the delayed transparency and management of the donated item.

Dhairya has suggested improved management and visibility of Shiba Inu’s on-chain non-profit resources. He urged all SHIB holders to track and monitor the utility of such a contribution from the Ethereum co-founder.

To this end, Dhairya accepted that the last donation could not be adequately managed. Also, he promised to do a better job this time. He invited Vitalik Buterin to look into Shiba Inu’s new system for making gestures of kindness and charity.

Shiba Inu Coin Price Analysis on Daily Chart

The daily timeframe analysis of the Shiba Inu coin guided a sideways price action. Over the past few weeks, the Shiba Inu price was stalled between $0.00001600 and $0.00002000.

However, the bulls have prevented the 200-day EMA support zone. Now, they aim to breach the upper neckline hurdle of $0.00002000.

The SHIB price was trading at $0.00001760, with an intraday rise of over 1.20%. The market cap rose to $10.39 Billion, and the trading volume surged by over 21% overnight.

The immediate support zones for SHIB were $0.00001620 and $0.00001500. At the same time, the upside hurdles were $0.00001900 and $0.00002070.

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