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The announcement by Shiba Inu marketing leader Lucie regarding significant changes in the token ecosystem has once again captured the attention of crypto enthusiasts. In a statement released on Thursday, it was emphasized that the launch of the Shib Doggy DAO Foundation is imminent, sparking global discussions. Meanwhile, as the SHIB price experiences a decline, overall charts indicate a potential rally, prompting speculation among market participants.
Shib DAO Foundation
On October 17, Lucie shared an update on X, stating, “Shib’s DAO and Foundation are coming soon.” The introduction of the Shib Doggy DAO Foundation marks the next phase for Shib State, laying the groundwork for a fully decentralized and autonomous future.
Lucie – “The Shib Doggy DAO Foundation will legally frame the DAO to ensure decisions made by the community are properly executed.”
The upcoming DAO is set to establish a governance system allowing SHIB, BONE, LEASH, and TREAT holders to influence key decisions. This initiative enables token holders to vote on a range of issues from community projects to technological advancements.
Increase in SHIB Burn Rate
As previously reported, SHIB’s recent gains are linked to an increase in the burn rate, which has seen approximately 300 million coins burned. This reduction in supply is bolstering the market dynamics surrounding the meme token.
Shytoshi Kusama recently highlighted a significant partnership for SHIB, further boosting market optimism for the asset. Overall, despite the current downturn, the coin paints a positive long-term outlook.
With this important ecosystem development, the future performance of the Shiba Inu coin is being closely monitored by market observers and investors. These developments seem poised to strengthen the coin’s decentralized structure and create a community-focused governance system.
For stakeholders, this shift within the Shiba Inu coin ecosystem could enhance long-term value appreciation potential. However, careful evaluation is essential, considering the possibility of ongoing market fluctuations.
