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In a big gust of developments witnessed throughout the Shiba Inu ecosystem not too long ago, LUCIE, the meme coin’s advertising and marketing lead, revealed the group’s plans to launch KNINE, a liquid staking derivatives token, on Shibarium shortly forward. This comes on account of Shiba Inu’s current partnership with K9 Finance, a DeFi platform leveraging the Shiba Inu L2, Shibarium.

As reported by Coingape media earlier this month, Shiba Inu’s partnership with K9 zeroes in on facilitating seamless BONE staking on Shibarium. Now, with the group’s plans to launch KNINE on March 7, 2024, Shibarium readies itself as a plethora of recent options await amalgamation onto the L2.

Meanwhile, SHIB’s value famous a drop as of press time after showcasing outstanding jumps yesterday. The value motion seems to be contrasting the staggering developments showcased by Shiba Inu’s group, fueling speculations over its run to $0.00001 forward.

KNINE Launch Rides The Predominant Wave Of Developments

Intriguingly, SHIB’s group unveiled a storm of breakthroughs for the meme coin’s ecosystem in current days, nabbing substantial consideration throughout the worldwide crypto realm. Among these developments, the partnership with K9 Finance comes as a revolutionary measure to facilitate seamless BONE staking on Shiba Inu’s L2 Shibarium. However, even with the KNINE launch surfacing throughout the crypto horizon right this moment, February 17, the BONE token traded within the purple, dropping significantly.

In the interim, developments just like the upcoming ERC-404 SHEboshi, Shiboshis utility, and Marswap integration additionally emerged available in the market, showcasing the group’s efforts to jack up the SHIB tokenomics.

Nonetheless, even Shiba Inu’s value took a bearish flip right this moment, contrasting the ecosystem’s developments.

Also Read: VanEck Updates S1-A Filing for Spot Ethereum ETF

Shiba Inu Price Drops

As of writing, the Shiba Inu price portrayed a noteworthy drop of two.21% over the previous 24 hours and is at the moment buying and selling at $0.00000976. Notably, the token showcased a outstanding upward motion yesterday, nearing the $0.00001 mark, propelling optimism available in the market. However, with the charts taking a bearish flip right this moment, crypto market fanatics seem to be eyeing the token extensively. The derivatives knowledge for the token additional illustrated a bearish local weather available in the market as SHIB’s open curiosity recorded a drop.

Nevertheless, with the group showcasing vital efforts, together with SHIB burn, SHEboshi integration, and plenty of others within the works- as per The Shib magazine, an upward motion for the meme coin is far anticipated inside the market, with the approaching surpassing of $0.00001 mark forward.

Also Read: Microstrategy’s Bitcoin Strategy is to Keep BTC With Fidelity

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