Recently, as a significant development within the Shiba Inu ecosystem, the launch of a Liquid Staking Derivatives (LSD) token named KNINE appears to be garnering considerable interest among crypto market enthusiasts worldwide. A post shared today by Shiba Inu’s marketing leader LUCIE on platform X highlighted the official launch of community member KNINE and the subsequent wave of optimism for Shiba Inu’s cryptographic initiative, which has led to meteoric success.
Updates on KNINE
Meanwhile, SHIB, which experienced an impressive rise of about 240% in recent weeks, saw quite volatile movements in the last 24 hours. However, with SHIB trading in the positive zone today, March 13, it has attracted the attention of global crypto market traders and investors.
During this period, another development took place. KNINE, the token born from Shiba Inu’s partnership with K9 Finance, entered the scene and caught attention. LUCIE, a significant member of the Shiba Inu community, commented on the matter.
According to LUCIE’s post, following the launch on March 7, KNINE encountered an influx of $7 million in volume within just one hour, making it one of the most sought-after tokens on the DeFi trading platform DexTools.
Furthermore, in the first 24 hours following KNINE’s Token Generation Event (TGE), the token reflected a notable 24-hour trading volume of $12.56 million and was met with investments from over 3,850 individuals.
Riding this extraordinary wave of optimism, as of March 9, KNINE reached a trading volume of approximately $15 million and maintained its position as one of the most trending projects.
At the time of writing this article, the number of holders had reached 5,760, underscoring the project’s continued status as the hottest topic in town.
The price surge recorded by Shiba Inu today reflects the optimism surrounding the community’s recent development initiatives and further highlights the meme coin’s groundbreaking cryptographic efforts.
Shiba Inu Price Situation
As of writing time, the price of Shiba Inu has seen a 1.62% increase in the last 24 hours, trading at $0.00003304. The meme coin, which experienced a significant monthly rise of 243%, reflects the positive atmosphere in the crypto world, including BTC‘s refreshed ATH among recent developments.
Additionally, with the decrease in Shiba Inu’s OI-weighted funding rate and the RSI indicating an overbought condition, investors continue to express views that a correction or at least a consolidation could occur.
