Shiba Inu may be on the verge of a giant breakout, because just last week, the Shibarium platform received an important Bor upgrade and a Cancun hard fork aimed at improving its performance, security, and scalability.
Adding to this momentum, the K9 mainnet was launched 12 hours ago, which could further boost Shiba Inu’s popularity, and its price.
K9 mainnet launch, unleash the dogs
The marketing lead for Shiba Inu, known as Lucie in the social media, announced the arrival of the K9 Finance Dao on her X account.
This new project also includes a liquid staking platform for Shibarium called Bone Crusher, so Shiba users can now stake their Ethereum $BONE on Shibarium and earn $knBONE, which can then be used to farm rewards on the K9 platform.
This new product features several key components like liquid staking for $BONE, real yield staking for $KNINE, farming $knBONE, and vesting $esKNINE. It’s time for build a database for the token names, right?
Impact on Shiba Inu’s price, because there will be impact, or not?
The K9 mainnet is expected to increase the usage of Shibarium, thus, drive up the price of Shiba Inu. The development team spent nearly a year creating this product.
Defillama’s data shows that Shibarium currently has a total value locked of $1.21 million, and the new liquid staking feature is likely to pump this number up.
As transaction rates on Shibarium rise, the burn rate of Shiba Inu will also increase, which will help reduce its supply, and following the launch of K9, there has already been a visible price increase.
The charts show that the price surged by 7.61%, reaching $0.00001396. The RSI has also more than doubled from 35 points to 72.83, signaling strong momentum in favor of price growth.
What’s next for SHIB?
The quick rise in the price after launching K9 suggests that a bullish trend might be on the horizon, or it’s even arrived.
The commitment shown by the Shiba team through their ongoing updates and new products demonstrates their dedication to the project and to the community, and this is always a good sign.
The community around Shiba is clearly wants to support new launches and generate bigger hype, so if these trends continue and more features are introduced, there is potential for Shiba Inu’s price to increase dramatically, possibly reaching 50 times its current value in a short time frame.
