Shiba Inu Coin executive team launches SHI stablecoin, SHIB price rises 13%
On Thursday, September 26, Lucy, the marketing director of Shiba Inu Coin, announced important information about the SHI stablecoin on the X platform. This news greatly stimulated enthusiasm for Shiba Inu Coin, driving SHIB price up by more than 13%. The SHI stablecoin is designed to improve the stability and usability of Shibarium, the Shiba Inu Coin blockchain network.
Lucy reveals the specifications of SHI stablecoin
Lucy said that the SHI stablecoin "is a key development project within the Shiba Inu ecosystem and is currently under development and has not yet been released." She noted that its launch will “significantly enhance the capabilities of the Shibarium Network,” a Layer-2 blockchain designed to accelerate and scale Shiba Inu Coin transactions.
Ryoshi, the anonymous founder of Shiba Inu Coin, launched SHI in 2021. SHI is a reliable and decentralized currency designed for Shibarium. Currently, the stablecoin’s price stabilization mechanism is still under development, but it will initially be pegged at $0.01.
SHI Stablecoin: A Key Development for Shibarium Ecosystem Stability and Utility
The SHI stablecoin, which is still under development, is crucial to the Shiba Inu ecosystem. This addition is expected to significantly improve Shibarium... (image link omitted)
"The specific mechanisms by which this anchoring is achieved have yet to be determined," Lucy said. Discussions within the Shiba Inucoin community are currently focused on staking solutions to maintain its value.
Lucy said Shiba Inu Coin developers Shytoshi Kusama and Kaal Dhairya are overseeing the development of SHI. SHI will conduct rigorous testing before release. “The project team is adopting a cautious strategy and learning from the experience of other stablecoins to ensure the security and sustainability of SHI,” she said.
List of benefits of the SHIB ecosystem
Lucy described the potential benefits of the SHI stablecoin to the Shiba Inu ecosystem. She said SHI will provide a stable value and enable consumers to transact without cryptocurrency concerns.
“Stablecoins can attract users who may be hesitant about more volatile cryptocurrencies,” she said. The announcement of SHI development news boosted the price of SHIB. On Thursday, Shiba Inu Coin rose 12.43% to $0.00001712.
If you are confused and don’t know what to do, you can click Follow and click on my main business to find me. All strategy fans can find me.
