- K9 Mainnet Launch
- How Will This Help Shiba Inu?
- Chart Supporting the Launch
Shiba Inu's ecosystem is preparing for a potential breakout thanks to recent developments. Recent updates include a major Shibarium upgrade and the launch of the new K9 Mainnet platform.
K9 Mainnet Launch
Shib's marketing lead, Lucie, shared details of the new product on her X account, announcing that the wait is over. K9 Finance Dao, an official Shib project, launched a liquid staking platform for Shibarium called Bone Crusher. Shiba users can now stake their Ethereum $BONE on Shibarium and earn $knBONE for farming rewards on the K9 platform. According to the Shibarium Network, the new product includes liquid staking for $BONE, Real Yield Staking for $KNINE, farming $knBONE, and vesting $esKNINE.
How Will This Help Shiba Inu?
The launch of the K9 Mainnet aims to boost Shibarium usage and increase Shiba Inu's price. The team took nearly a year to develop and launch this product. According to Defillama, Shibarium currently has a total value locked of $1.21 million, and the new liquid staking feature will help increase this. As transactions on Shibarium rise, the burn rate will also increase, ultimately reducing supply and pushing Shiba Inu's price upward.
Chart Supporting the Launch
Shiba Inu is showing a notable rebound after the K9 Mainnet launch. Since its release, the price has surged by 7.61%, currently trading at $0.00001396. The Relative Strength Index (RSI) has more than doubled from 35 points to a current 72.83. The moving averages are also aligning to support the price increase. All this occurred within hours of the K9 Mainnet launch.
The rise in Shiba Inu's price hours after the K9 Mainnet launch suggests a potential bullish trend for the cryptocurrency. The Shiba team’s dedication and the community's rapid adoption of new updates indicate that these features could significantly increase the price in the near future.
