Category: MemeCoin

Shiba Inu ($SHIB) is soaring up in crypto world. Kraken Pro recently announced that $SHIB can be used as collateral for future tradings. This place $SHIB with popular cryptocurrencies such as Bitcoin, Ethereum, and others.

SHIB’s lead developer, Shytoshi Kusama responded to the news with a simple angel emoji on Twitter. This very move could rocket SHIB’s presence in the crypto world.

Adding to that, the burn rate of $SHIB soared up by a massive 139,10% in just 24 hours, with over 96 million tokens burned. The burning of the tokens reduces the circulation of the number of coins, adding more value to $SHIB.

With all these happenings around $SHIB, known investors are also showing interest with large transactions over $100,000 rising by 64%. Increment in community involvement was seen by 14% in daily active SHIB addresses.

With SHIB being used as collateral and tokens being burned at record rates, we can see the level up of $SHIB in crypto world.

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TON, the Telegram Open Network was recently disrupted by the introduction of a meme coin called the DOGS. On 28 August, TON stopped to take new transactions and create blocks for more than six hours. This was due to an increased activity, after the release of DOGS on August 26.

They declared that the instability of the network was coming from the large expectation of DOGS in Tonk Inu. Tonk Inu is a community platform in TON. The meme coin soon became popular after it was listed on exchanges such as Binance and OKX. It was listed with a trading volume of $1.7 billion in just 10 hours. Nevertheless, the price of token DOGS declined from $0. 0018 to $0.

The last recorded confirmed transaction on the TON blockchain was made in block 45341899. This has left users worried about the network’s performances when there is congestion. The impact led to a 5% decline in Toncoin and saw a 28% reduction in trading volumes. 63%.Toncoin, which has been trending down since then, fell from $5.47 to $5.12.

As a result of the outage, a major cryptocurrency exchange Bybit halted all deposits and withdrawals in the TON network. Maintenance of the blockchain, the job of the validators, became difficult due to an increase in the number of transactions. A member of the TON Foundation said that validators are aware of the fact that they have to restart the network to bring it to its normal state. The constant airdrop of the DOGS memo also caused congestion on the TON network. It slowed down Binance’s upgrade process for the network.

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Shiba Inu has a new decentralized autonomous organization (DAO) on the horizon that puts it in a different league. This step might bring the token holders in the company more influence in the direction of the project.

They will also be able to govern the DAO hence participate in the decision making of Shiba Inu. This would make it a part of Shibarium ecosystem which would consist of tokens like BONE and LEASH. It is not clear when precisely the concept of the DAO will release.

Shiba Inu coin emerged from the meme coin population but has since expanded to become a project. Now it has its own decentralized exchange, the blockchain, and such service as liquidity mining. It is thus seen as a means of extending more decentralisation of the community in the operations of the new DAO.

The DAO is to comprise of two central councils. Charity Council’s primary goal will be the further promotion of the token and the development of supporting initiatives in the field of charity. Therefore, the Culture & Heritage Council will engage in their efforts to protect the community ad maintain Shiba Inu’s fundamentals.

The DAO is expected to increase the utility and use cases of the token as well as provide means for every holder to shape its future. It could help Shiba Inu to build a better stance in the saturated world of cryptocurrencies.

In total, the DAO is another step in the development of Shiba Inu from the status of a meme coin to a much more worthy and useful project involving its users.

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