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The Sandbox The Sandbox (SAND) $0.28 ↓ -4.82%
MemeCore MemeCore (M) $0.45 ↓ -4.08%
Pyth Network Pyth Network (PYTH) $0.12 ↓ -5.61%
Bitcoin Bitcoin (BTC) $118,325.02 ↓ -2.41%
Ethereum Ethereum (ETH) $4,279.86 ↑ 0.80%
XRP XRP (XRP) $3.11 ↓ -4.72%
Tether USDt Tether USDt (USDT) $1.00 ↓ -0.01%
BNB BNB (BNB) $799.83 ↓ -1.24%
Solana Solana (SOL) $174.17 ↓ -4.68%
USDC USDC (USDC) $1.00 ↓ -0.01%
Dogecoin Dogecoin (DOGE) $0.22 ↓ -5.35%
TRON TRON (TRX) $0.35 ↑ 1.69%
Cardano Cardano (ADA) $0.77 ↓ -4.92%
Chainlink Chainlink (LINK) $21.10 ↓ -2.59%
Hyperliquid Hyperliquid (HYPE) $42.58 ↓ -6.97%
Stellar Stellar (XLM) $0.43 ↓ -4.54%
Sui Sui (SUI) $3.62 ↓ -5.00%
Bitcoin Cash Bitcoin Cash (BCH) $591.63 ↑ 0.13%
Ethena USDe Ethena USDe (USDe) $1.00 ↓ -0.01%
Hedera Hedera (HBAR) $0.25 ↓ -5.72%
Avalanche Avalanche (AVAX) $22.95 ↓ -4.30%
Litecoin Litecoin (LTC) $119.10 ↓ -4.78%
Toncoin Toncoin (TON) $3.35 ↓ -0.22%
UNUS SED LEO UNUS SED LEO (LEO) $9.07 ↑ 0.56%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -4.58%
Uniswap Uniswap (UNI) $10.87 ↓ -1.24%
Polkadot Polkadot (DOT) $3.87 ↓ -4.07%
Cronos Cronos (CRO) $0.17 ↓ -1.53%
Dai Dai (DAI) $1.00 ↑ 0.01%
Ethena Ethena (ENA) $0.76 ↓ -7.90%
Bitget Token Bitget Token (BGB) $4.37 ↓ -1.83%
Pepe Pepe (PEPE) $0.00 ↓ -6.53%
Monero Monero (XMR) $247.26 ↓ -9.62%
Aave Aave (AAVE) $294.18 ↓ -3.47%
Bittensor Bittensor (TAO) $360.98 ↓ -5.00%
Mantle Mantle (MNT) $1.02 ↓ -1.59%
Ethereum Classic Ethereum Classic (ETC) $22.00 ↓ -4.30%
NEAR Protocol NEAR Protocol (NEAR) $2.59 ↓ -5.10%
Ondo Ondo (ONDO) $0.98 ↓ -4.01%
Aptos Aptos (APT) $4.52 ↓ -3.74%
Pi Pi (PI) $0.38 ↓ -7.19%
Internet Computer Internet Computer (ICP) $5.35 ↓ -4.94%
OKB OKB (OKB) $45.71 ↓ -1.58%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.23 ↓ -3.76%
Kaspa Kaspa (KAS) $0.09 ↓ -5.82%
Arbitrum Arbitrum (ARB) $0.44 ↓ -4.82%
Algorand Algorand (ALGO) $0.25 ↓ -7.27%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↑ 0.00%
Pudgy Penguins Pudgy Penguins (PENGU) $0.03 ↓ -12.17%
VeChain VeChain (VET) $0.02 ↓ -3.21%
Cosmos Cosmos (ATOM) $4.49 ↓ -2.68%
GateToken GateToken (GT) $16.47 ↓ -2.03%
Bonk Bonk (BONK) $0.00 ↓ -11.75%
Render Render (RENDER) $3.71 ↓ -5.01%
Worldcoin Worldcoin (WLD) $0.98 ↓ -8.50%
Sky Sky (SKY) $0.08 ↓ -5.34%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $8.76 ↓ -4.14%
Sei Sei (SEI) $0.30 ↓ -5.36%
Filecoin Filecoin (FIL) $2.47 ↓ -5.06%
Story Story (IP) $5.63 ↓ -16.05%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.68 ↓ -4.44%
SPX6900 SPX6900 (SPX) $1.71 ↓ -8.56%
Flare Flare (FLR) $0.02 ↓ -3.65%
KuCoin Token KuCoin Token (KCS) $11.89 ↓ -0.24%
Jupiter Jupiter (JUP) $0.49 ↓ -4.93%
Four Four (FORM) $3.82 ↓ -1.75%
First Digital USD First Digital USD (FDUSD) $1.00 ↓ -0.01%
XDC Network XDC Network (XDC) $0.09 ↓ -2.75%
Injective Injective (INJ) $13.53 ↓ -4.96%
Lido DAO Lido DAO (LDO) $1.47 ↑ 0.97%
Quant Quant (QNT) $109.52 ↓ -2.70%
Optimism Optimism (OP) $0.74 ↓ -5.15%
Celestia Celestia (TIA) $1.70 ↓ -6.91%
Stacks Stacks (STX) $0.71 ↓ -8.68%
Curve DAO Token Curve DAO Token (CRV) $0.92 ↓ -6.30%
Pump.fun Pump.fun (PUMP) $0.00 ↓ -4.37%
Immutable Immutable (IMX) $0.55 ↓ -5.37%
FLOKI FLOKI (FLOKI) $0.00 ↓ -8.07%
Ethereum Name Service Ethereum Name Service (ENS) $27.67 ↓ -4.25%
PayPal USD PayPal USD (PYUSD) $1.00 ↓ -0.03%
Conflux Conflux (CFX) $0.19 ↓ -4.51%
The Graph The Graph (GRT) $0.09 ↓ -5.98%
Aerodrome Finance Aerodrome Finance (AERO) $1.09 ↓ -8.66%
PAX Gold PAX Gold (PAXG) $3,347.50 ↓ -0.23%
PancakeSwap PancakeSwap (CAKE) $2.70 ↓ -3.54%
Pendle Pendle (PENDLE) $5.37 ↑ 0.93%
dogwifhat dogwifhat (WIF) $0.90 ↓ -8.43%
Kaia Kaia (KAIA) $0.14 ↓ -3.55%
Tezos Tezos (XTZ) $0.83 ↓ -5.84%
Nexo Nexo (NEXO) $1.33 ↓ -1.16%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.30 ↓ -8.78%
Sonic Sonic (S) $0.29 ↓ -5.90%
Fartcoin Fartcoin (FARTCOIN) $0.84 ↓ -16.92%
Vaulta Vaulta (A) $0.53 ↓ -1.78%
Tether Gold Tether Gold (XAUt) $3,348.27 ↓ -0.31%
Theta Network Theta Network (THETA) $0.82 ↓ -4.38%
Raydium Raydium (RAY) $3.03 ↓ -8.11%
JasmyCoin JasmyCoin (JASMY) $0.02 ↓ -1.59%
IOTA IOTA (IOTA) $0.20 ↓ -6.35%
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MemeCore MemeCore (M) $0.45 ↓ -4.08%
Pyth Network Pyth Network (PYTH) $0.12 ↓ -5.61%
Home Cryptocurrency

Shiba Inu Team Reveals SHI Stablecoin’s Game-Changing Role for Shibarium

Lois Zaytsaw by Lois Zaytsaw
26 September 2024
in Cryptocurrency, News
Reading Time: 2 mins read
0
article about the SHI stablecoin and its impact on Shibarium The design should include abstract representations

The Shiba Inu ecosystem continues to expand, and recent comments from Shiba Inu marketing leader Lucie about the upcoming SHI stablecoin have caught the attention of the crypto world. Lucie emphasized that the stablecoin will be a game-changer for Shibarium, Shiba Inu’s Layer 2 blockchain, playing a key role in providing stability and utility within the ecosystem.

Table of Contents

Toggle
  • SHI Stablecoin Development in Progress
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  • The Importance of SHI for Shibarium
  • SHIB Price Movement Today
  • The Road Ahead for SHI Stablecoin

SHI Stablecoin Development in Progress

In an official X post on September 26, Lucie clarified that the SHI stablecoin, first introduced by Shiba Inu founder Ryoshi in 2021, is still under development. She explained that while the goal is to peg the stablecoin to $0.01, the specific mechanism to achieve this has not yet been finalized. The Shiba Inu community is actively exploring potential solutions to ensure a smooth launch of SHI within the ecosystem.

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The Importance of SHI for Shibarium

Lucie further elaborated on why the SHI stablecoin is crucial for Shibarium. According to her, SHI will help enhance price stability, expand use cases, strengthen DeFi integration, boost adoption, provide liquidity, improve interoperability, and increase transaction security. As development progresses, SHI is expected to significantly enhance the capabilities of the Shiba Inu ecosystem, providing a reliable framework for decentralized finance and contributing to a more resilient financial structure.

news article about the SHI stablecoin and its role in Shibarium The design should feature abstract elements

SHIB Price Movement Today

At the same time, Shiba Inu’s price surged by around 11% today, sparking speculation that the memecoin could rally to $1, reminiscent of the 2021 bull run. The ongoing speculation surrounding the launch of the SHI stablecoin is adding to the excitement. SHIB’s daily trading range fluctuated between $0.00001475 and $0.00001652, while the 24-hour trading volume saw a remarkable 131% increase, reaching $520.52 million. This spike in volume has ignited enthusiasm within the Shiba Inu community.

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According to Coinglass data, SHIB futures open interest surged by 22%, reaching $42.43 million in the last 24 hours. Additionally, the derivative volume jumped by 192%, totaling $179.36 million. With today’s price rally, SHIB appears to be in a bullish trend, and the upcoming SHI stablecoin announcement continues to fuel optimism within the community.

The Road Ahead for SHI Stablecoin

The continued development and integration of the SHI stablecoin within the Shibarium ecosystem is being closely watched by the Shiba Inu community. While community members weigh the potential benefits and challenges that SHI might bring, the focus remains on ensuring the project’s sustainability and security.

Tags: DeFi integrationSHI stablecoinSHIB price rallyshiba inuShibarium
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Lois Zaytsaw

Lois Zaytsaw

Content Editor, News Meet Lois, a dynamic Crypto, Blockchain, and Finance Writer/Journalist based in the bustling metropolis of New York City. With a passion for technology and a keen understanding of finance, Lois has been covering the latest developments in the world of cryptocurrency and blockchain for several years. Her insightful articles have been featured in numerous leading publications, including The Wall Street Journal, Bloomberg, and CryptoBriefing. Lois' fascination with blockchain and cryptocurrency began during her time as a student at university, where she studied economics and computer science. She was drawn to the disruptive potential of blockchain technology to revolutionize the traditional financial industry, and since then, she has been following the latest trends and innovations in the space.

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