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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Analysts Remain Bullish on SpaceX Stock Despite Recent Challenges

chest

Despite recent challenges, analysts maintain a bullish outlook on SpaceX stock, citing its unique positioning in the market.

user avatarDavid Robinson

SpaceX Stock Faces Volatility Amid Lockup Expirations

chest

SpaceX stock has experienced significant fluctuations due to recent lockup expirations, with investors questioning its future performance.

user avatarAndrew Smith

Meta's Valuation Advantage Over SpaceX

chest

Despite SpaceX's rapid growth, Meta has a more favorable stock valuation, trading at about 66 times sales compared to SpaceX's 45 times sales.

user avatarZainab Kamara

SpaceX Outpaces Meta in Revenue Growth

chest

SpaceX's revenue grew by 92% year-over-year, while Meta's revenue increased by 28%. SpaceX's growth is driven by demand for AI and connectivity, whereas Meta's growth is slower but consistent.

user avatarJacob Williams

SpaceX and Meta Compete for $2 Trillion Valuation

chest

SpaceX and Meta are competing for a $2 trillion market valuation, with SpaceX having briefly reached this mark in June.

user avatarSon Min-ho

SanDisk's Impressive Stock Performance Post Spin-off

chest

SanDisk has experienced a remarkable stock increase of almost 3,900% since its spin-off from Western Digital, driven by high demand for NAND flash memory, with analysts suggesting over 50% upside from current levels.

user avatarAyman Ben Youssef

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.