Shiba Inu, popularly known as the dog-themed memecoin, is undergoing significant changes in its governance structure. These changes include the creation of a new decentralized autonomous organization (DAO) and the launch of a stablecoin.
New SHIB DAO Governance Structure
Shiba Inu Marketing Lead, known as Lucie, announced upcoming changes that will place power in the hands of the ecosystem's true holders. The SHIB Doggy DAO Foundation is slated to become a reality, marking a new phase in Shiba Inu's history aimed at full decentralization. This organization will allow holders of SHIB, LEASH, BONE, and TREAT tokens to make governance decisions. Additionally, the organization will oversee technological advancements and upgrades, as well as manage assets like the Doggy Treasury. Lucie highlighted that the new governance system will encompass community, technology, security, and projects.
Shiba Inu SHI Stablecoin Launch
The Shiba Inu ecosystem is ramping up preparations for its stablecoin launch. While a specific date has not been announced, it will serve as a decentralized currency for the ecosystem. Initially proposed by an anonymous founder known as Ryoshi in 2021, the SHI stablecoin will form the core of Shibarium, the project's layer-2 solution. The stablecoin aims to bring stability and functionality to the ecosystem by avoiding the pitfalls of previous stablecoin projects.
Shiba Inu Price Fluctuations
As of this writing, Shiba Inu’s price had decreased by 3.41%, trading at $0.00001788. Over the past 24 hours, SHIB has dropped from $0.0000185, breaking through two critical support levels. This has sparked investor concerns despite a recent 26% growth spurt. The recent burning of ecosystem control keys by Ryoshi means that supply reduction is now community-driven. Users must support the ecosystem by burning excess tokens through interaction with Shibarium, the layer-2 blockchain solution.
The ongoing changes in Shiba Inu are aimed at decentralization and steady development of the ecosystem. The establishment of SHIB DAO and the launch of the SHI stablecoin are crucial steps in this direction.