K9 Mainnet Launch Could Propel Shiba Inu: New Prospects and Opportunities

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. K9 Mainnet Launch
  2. How Will This Help Shiba Inu?
  3. Chart Supporting the Launch


    4. 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.

    The wait is finally over.Lucie, Shib Marketing Lead

    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.

    SHIB is showing a remarkable bounce-back after 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Cardano's New Scaling Test Reveals Key Performance Metrics

A recent report by Input Output highlights the performance improvements of the Cardano scaling test, focusing on throughput and completion time.

user avatarSatoshi Nakamura

Crypto Market Declines Following Global Selloff

The crypto market faced a significant decline over the weekend, with Bitcoin falling 11%, Ethereum dropping 26%, and Solana decreasing by 28%, following a global market selloff.

user avatarNguyen Van Long

Cardano Developers Launch Public Test Network for Dijkstra Upgrade

Cardano developers have launched a public test network for the Dijkstra upgrade, enabling developers to test and prepare for new protocol rules.

user avatarJesper Sørensen

Tether Introduces New Framework to Enhance Bitcoin Mining Operations

Tether has announced a new initiative aimed at simplifying Bitcoin mining operations by integrating existing equipment through a common software framework.

user avatarRajesh Kumar

Electrum Wallet Vulnerability Could Lead to Unintended Payments

Electrum disclosed a vulnerability in its wallet that could lead to unintended payments due to a flaw in fee adjustments.

user avatarLucas Weissmann

US Household Inflation Expectations Increase Ahead of Federal Reserve Meeting

In October 2023, American households raised their inflation expectations to 4.7% for the next year and 3.5% for the long run, according to a survey by the University of Michigan.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.