Shiba Inu, the well-known memecoin, fueled speculation as its price regained a zero, accompanied by additional announcements.
Shiba Inu, a cryptocurrency built on the Ethereum blockchain, gained significant attention in the crypto community due to its recent partnership with Bad Idea AI. The collaboration led to the introduction of a new staking pool on MARSWAP, a decentralized exchange (DEX) operating on the Shibarium network. Additionally, a prominent crypto analyst highlighted Shiba Inu’s growth potential, emphasizing key factors that could impact the token’s bullish momentum.
Shibarium Integrates Bad Idea AI Staking Pool
Bad Idea AI, a decentralized project, made headlines by introducing a new staking protocol on Marswap DEX within the Shiba Inu ecosystem. The announcement, dated December 11, outlines the launch of the BAD staking pool as part of the Shibarium adoption initiative. This strategic collaboration aims to transfer pools from Bad Idea AI’s DeFi platform to Marswap DEX, with the primary goal of boosting the prominence of the Shibarium network.
The BAD staking pool is scheduled to commence within the next 24 to 48 hours, as of the current writing. The decentralized project emphasizes the importance of unstaking cryptocurrencies from the DeFi platform and encourages users to stake their assets on Marswap DEX. Additionally, users are urged to ensure seamless connectivity to the Ethereum network for a smooth transition.
Shiba Inu Faces Price Dip Despite Weekly Gains
The Shiba Inu token experienced a notable 6.01% drop in the last 24 hours, currently trading at $0.000009605. However, over the week, it saw a 3.58% increase, accompanied by a monthly rise of 3%. Despite positive indicators, SHIB encountered a zero in its price value today.
In tandem with the price decline, the SHIB burn rate also saw a significant 86% decrease.
Crypto analyst Ali Martinez highlighted SHIB’s bullish momentum, emphasizing the accumulation of 422 trillion SHIB across nearly 90,000 addresses. Acquired at an initial price of $0.000016, the substantial holdings raise speculations and concerns about potential selling pressure, which could impact SHIB’s upward trajectory.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
