ShibaSwap, the decentralized exchange for the Shiba Inu (SHIB) token, has undergone a significant update that expands its functionality and provides new opportunities for users.
ShibaSwap Update and Features
ShibaSwap, launched in July 2021, has now become a multi-chain decentralized exchange. The upgrade allows users to swap tokens not only within Ethereum but also across other networks like Polygon, Avalanche, Arbitrum, and more. This reduces transaction costs and speeds up the swapping process. The new routing system analyzes transaction paths in real time, allowing users to choose their preferred options. Liquidity providers also benefit from this upgrade, as all pool positions are now displayed in a single interface.
Statement from Shiba Inu Team
Lucie, marketing lead for Shiba Inu, revealed that "embedding cross-chain capabilities directly into its exchange removes dependence on external bridges and reduces complexity for new participants."
Market Performance and Price Outlook
Recently, the LEASH V2 migration was completed, allowing token holders to swap their old tokens for new ones without the risk of supply dilution. This step aims to stabilize supply and reinforce scarcity. Analysts, including Javon Marks, have expressed optimistic price predictions for SHIB, expecting it to rise to $0.000081, nearly a sixfold increase from current levels. Over the past 24 hours, SHIB surged 8.66%, increasing weekly gains to 18%.
The ShibaSwap update exemplifies the Shiba Inu team's commitment to growth and adaptation in the market. The new cross-chain functionality might positively impact liquidity attraction and price stabilization.
