The Shibarium update boosts trading by 28%. Will this cause the SHIB price to reach $1?

Shiba Inu (SHIB), the second-largest meme coin in the world, is once again in the news. The SHIB price increased by 7% on Wednesday, December 14, and trading activity increased by 28%. After Shiba Inu developer Shytoshi Kusama updated his Twitter profile, this took place.

In his Twitter bio, Kusama composed: ” A line from the song “The Twelve Days of Christmas” basically reads, “On the first day…my true love gave to me…” The SHIB community has begun decoding it, concluding that Shibarium will receive a significant update before Christmas.

Shibarium is a blockchain platform that lets developers and users use the Shiba Inu blockchain infrastructure in the right way. It is basically a Shiba Inu-specific Layer-2 blockchain platform. Shibarium’s objective is to establish the foundations for expanding the Shiba Inu ecosystem through the inclusion of DEX, blockchain games, the Metaverse, and a great deal more.

Those who are Kusama’s followers were quick to pick up on that hints that there might be a big announcement soon. Many users want to know if Shiba Inu developers will give a better Christmas present, but Kusama has chosen to keep quiet about the whole thing. As a result, for the time being, these are just theories regarding the Shibarium development.

The accumulation of whales is an additional factor in the recent price increase for the SHIB. According to recent data from Etherscan, the Shiba Inu whale amassed a staggering 1.92 trillion SHIB, which is equivalent to approximately $17.7 million.

Market participants continue to build products and services around the SHIB cryptocurrency, even though it experienced a significant correction during the crypto winter of 2022. Customers of STC can now use their Shiba Inu to pay for their phone bills thanks to a partnership between Binance Pay and the Bahraini payment processor EazyPay.

Tameem Al Moosawi, Binance Bahrain’s general manager, acknowledged this move by STC Bahrain as well. He mentioned: