In a significant gust of developments witnessed across the Shiba Inu ecosystem recently, LUCIE, the meme coin’s marketing lead, revealed the community’s plans to launch KNINE, a liquid staking derivatives token, on Shibarium shortly ahead. This comes as a result of Shiba Inu’s recent partnership with K9 Finance, a DeFi platform leveraging the Shiba Inu L2, Shibarium.
As reported by Coingape media earlier this month, Shiba Inu’s partnership with K9 zeroes in on facilitating seamless BONE staking on Shibarium. Now, with the community’s plans to launch KNINE on March 7, 2024, Shibarium readies itself as a plethora of new features await amalgamation onto the L2.
Meanwhile, SHIB’s price noted a drop as of press time after showcasing remarkable jumps yesterday. The price movement appears to be contrasting the staggering advancements showcased by Shiba Inu’s community, fueling speculations over its run to $0.00001 ahead.
KNINE Launch Rides The Predominant Wave Of Developments
Intriguingly, SHIB’s community unveiled a storm of breakthroughs for the meme coin’s ecosystem in recent days, nabbing substantial attention across the global crypto realm. Among these developments, the partnership with K9 Finance comes as a revolutionary measure to facilitate seamless BONE staking on Shiba Inu’s L2 Shibarium. However, even with the KNINE launch surfacing across the crypto horizon today, February 17, the BONE token traded in the red, dropping considerably.
In the interim, developments like the upcoming ERC-404 SHEboshi, Shiboshis utility, and Marswap integration also emerged in the market, showcasing the community’s efforts to jack up the SHIB tokenomics.
Nonetheless, even Shiba Inu’s price took a bearish turn today, contrasting the ecosystem’s advancements.
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Shiba Inu Price Drops
As of writing, the Shiba Inu price portrayed a noteworthy drop of 2.21% over the past 24 hours and is currently trading at $0.00000976. Notably, the token showcased a remarkable upward movement yesterday, nearing the $0.00001 mark, propelling optimism in the market. However, with the charts taking a bearish turn today, crypto market enthusiasts appear to be eyeing the token extensively. The derivatives data for the token further illustrated a bearish climate in the market as SHIB’s open interest recorded a drop.
Nevertheless, with the community showcasing significant efforts, including SHIB burn, SHEboshi integration, and many others in the works- as per The Shib magazine, an upward movement for the meme coin is much expected within the market, with the imminent surpassing of $0.00001 mark ahead.
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