The Shiba Inu team is ambitious and wants to launch the SHIB market to "revolutionize" Web3 business, but the price performance is not satisfactory
The Shiba Inu team recently announced an ambitious plan to launch the SHIB market, which aims to "revolutionize" Web3 business through a decentralized platform. The market will be powered by Ethereum's Shibarium L2 solution and use BONE tokens for transactions, and governance will be handled by Shiba Inu DAO.
LucieSHIB, an insider of the team, excitedly stated on the social media platform X (formerly Twitter): "The Shib ecosystem is becoming a center of innovation, powered by blockchain technology and dedicated communities. At its core will be the Shib Marketplace, a decentralized platform designed to democratize power among users rather than centralized companies."
It is reported that the market will include a standard NFT section similar to OpenSea, and promises that transaction fees will remain below $0.1.
“The market leverages the strong security features of Shibarium and Ethereum, and the transaction fees are very low, less than 0.1 cents per transaction.” LucieSHIB said.
However, the launch time of the project has not yet been determined.
SHIB ETF expected to be launched in the near future?
In addition to the SHIB market, LucieSHIB also said that she believes the emergence of SHIB ETF is just around the corner, which will further increase the demand of institutional investors for this highly-watched meme coin.
“Do I think SHIB ETF will appear? There is no doubt that institutions have discovered the beauty of Shiba Inu’s decentralization.” She said.
Despite the team’s enthusiasm for the SHIB market, there is still uncertainty about the future of the project. At press time, SHIB’s price is still showing a bearish trend on the higher time frame charts and is below the key short-term (50-day SMA) and long-term (200-day SMA) moving averages.
In addition, the open interest rate in the derivatives market has fallen by 5% in the past 24 hours, which further indicates the bearish sentiment of the market on SHIB.
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