what is the "shared roadway" sign with a bicycle symbol on it?

in my town theres a "shared roadway" sign with a bike symbol on it. is that supposed to mean that bicyclists and drivers are to share the same roadway?? well, that would be impossible cuz the cars go 70 mph!! and theres no sidewalks either. how am i supposed to manage with a bike? theres so much traffic there. i might get hit by a car if i ride my bike to school.
 
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