The past week has been tough for the cryptocurrency market. On the evening of March 2, the bearish trend turned bullish, and the chances of the meme cryptocurrency growing Shiba Inu increased. In addition, the price of the memecoin may receive an additional boost from the upcoming blockchain upgrade Ethereum .
The project's head of marketing, Lucy, wrote that the upcoming update Ethereum Pectra on Shibarium is set to bring a host of improvements to the ecosystem. Scheduled for April 2025, the upgrade will bring improvements to scalability, staking, and user experience.
The second half of February brought considerable shocks to the cryptocurrency market. For example, in January, the leading kriptovalyuta reached $110,000 and closed the month around $83,000. The decline hit the entire asset class.
However, in early March the situation began to change, and Shiba Inu could benefit even more from an update Ethereum Pectra, which will help SHIB show double-digit growth.
Lucy's post claims that Pectra will "make Layer 2 solutions faster, cheaper and easier to use." This will be achieved through innovative features that increase accessibility.
Users will not need ETHf or gas fees when moving assets, reducing costs.
Interestingly, the algorithms of cryptocurrency price forecasting platform CoinCodex calculated that SHIB will rise by 116% in March.
