Shiba Inu Coin’s team announces that the ecosystem is preparing for the introduction of a DAO and Foundation, boosting SHIB prices.
Shiba Inu coin has once again attracted attention from crypto enthusiasts as the SHIB team confirms a significant shift ahead.
On Thursday, the marketing lead revealed that the launch of the Shib Doggy DAO and Foundation is fast approaching.
Meanwhile, SHIB’s price experienced a slight decline, although broader trends suggested a potential rally, sparking speculation among investors about the upcoming ecosystem developments.
Shiba Inu Coin Prepares for Shib DAO Foundation Launch
In an X post on October 17, Lucie, the marketing lead of the Shiba Inu project, announced, “Shib’s DAO and Foundation are coming soon.”
The forthcoming “Shib Doggy DAO Foundation” marks the “next chapter for Shib State,” setting the stage for a decentralized and autonomous future.
The upcoming DAO will act as a governance system where holders of SHIB, BONE, LEASH, and TREAT tokens can influence major decisions.
This will allow the community to vote on matters ranging from technology advancements to community-driven projects.
“The Shib Doggy DAO Foundation will legally wrap around the DAO, ensuring that the decisions made by the community are properly executed,” Lucie explained.
The governance system will be divided into four main areas based on the ecosystem’s tokens.
According to Lucie, SHIB will govern the community, BONE will drive technology, LEASH will offer protection and exclusivity, and TREAT will focus on community projects.
The announcement garnered significant attention, highlighting transformative developments for the Shiba Inu ecosystem on the horizon.
SHIB Price Performance Today
Despite the positive news, SHIB’s price fell by 5% today, trading at $0.00001781. Its intraday low and high were $0.00001786 and $0.00001899, respectively. However, the broader charts indicated a potential price rally.
The weekly chart showed gains of 4%, and the token posted nearly 35% gains for the month, sparking optimism among investors.
This price surge, combined with the upcoming developments in the Shiba Inu ecosystem, attracted significant attention to the cryptocurrency.
Additionally, it’s worth noting that the recent price gains coincide with a surge in SHIB’s burn rate, as nearly 300 million coins were burned, reducing supply and strengthening the token’s market position.
Lead developer Shytoshi Kusama also hinted at a “game-changing partnership” for SHIB, further fueling market optimism.
Despite today’s decline, the overall outlook for Shiba Inu remains positive, with promising long-term prospects.
