Shiba Inu (SHIB) Overview
Shiba Inu (SHIB) was founded in August 2020 by a creator called Shytoshi Kusama. It is an ERC-20 token, meaning it operates on the Ethereum blockchain. The meme coin worked its way up and is now the second-largest meme coin, just after Dogecoin (DOGE), with a market capitalization of $7.66 billion.
As per our market data, investor interest in SHIB is increasing. In the past 24 hours, the tokens’ trading volume has seen a 101.45% spike to $192 million. SHIB is priced at $0.00001299 after gaining $2.62% in the past 24 hours. This has pushed its market capitalization to $7.66 billion.
Lucie’s Announcement
Lucie, a key figure in the Shiba Inu ecosystem, shared a detailed post on X stating, “SHIB DEFI TOOLKIT JUST LEVELED UP. SHIB | BONE | LEASH | TREAT, things just got serious.” Specifically, she is referring to the growing suite of Decentralized Finance (DeFi) tools now accessible to SHIB holders and participants.
Details of the DeFi Toolkit
Let’s break it down: “Precision Liquidity Pools Are Live: •LPs can now choose exactly where to provide liquidity, targeting specific price zones. •Fewer tokens, more efficient yield. Real strategy, real results,” she explained. For instance, if you believe SHIB will trade between $0.00002 and $0.00003, you can concentrate your liquidity there, not waste it outside this range. Usually, liquidity gets spread across a wide price curve, much of which rarely sees trades, making your capital inefficient. Now, you focus your liquidity where there is action.
Staking and Rewards
Staking is just locking up your crypto tokens. In return, you earn rewards. In Shiba Inu’s case, staking mainly happens on ShibaSwap, the official DEX of the Shiba Inu ecosystem. When you stake SHIB, you receive xSHIB in return. xSHIB earns you a share of trading fees generated on ShibaSwap. Similarly, you can stake LEASH and BONE for xLEASH and tBONE, respectively, which also generate rewards.
Now Lucie states that “Multiple Rewards in One Move. When you stake, you earn from several sources at once: fees, incentives, and more. It’s compounding without the micromanagement.” By staking, you get to earn passive income on tokens you’re holding long-term. Also, you help support the ecosystem with liquidity or stability, and also participate in governance with BONE staking.
Burning Mechanism
Burning is sending tokens to a wallet address that no one can access, often called a “dead wallet”. Once burned, tokens are removed from circulation. The goal is to reduce total supply, which in theory can make the token more scarce, possibly increasing its value over time.
She went on to explain that “Auto Burns, Direct from Activity. Swaps, liquidity actions, and other uses now trigger live burns automatically. No need to wait for announcements, burns happen on-chain, in real time.” Burns so far have had a limited price impact. According to data from Shiburn, the burn rate of SHIB has surged by 192.72%, indicating that 357,116 SHIB tokens were removed from circulation in the last 24 hours.
Conclusion
She wrapped it up by saying, “If you’re still here, this was made for you. No hype. No theory. It’s live, and it’s powerful.” Meanwhile, in another update, CNF revealed that Shiba Inu is rolling out a key upgrade to its Shibarium nodes, aiming to fix ongoing RPC issues and improve compatibility with mobile wallets.