Shiba Inu (SHIB) plans to launch a decentralized autonomous organization (DAO)

Shiba Inu is currently ranked 13th in the market capitalization list and plans to launch a decentralized autonomous organization (DAO). This will give token holders the right to vote and directly participate in the decision-making of the future development of the project.

The DAO of this memecoin will be managed by two main committees: "Charity Committee" and "Cultural Heritage Committee". These committees will be responsible for supervising community activities, including charity promotion and maintaining the unique culture of the Shiba Inu community. In addition to SHIB, other tokens in the ecosystem such as BONE and LEASH will also play a key role in DAO governance.

On March 18, the SHIB team announced that ShibaSwap, a decentralized exchange in the Shiba Inu ecosystem, has successfully migrated to the Shibarium blockchain within the project.

Despite the news, the price of SHIB did not show significant fluctuations, and the current trading price is $0.000015. However, in the past week, its price has increased by 13.8%.

Although the current market value of memecoin has exceeded $8.9 billion, SHIB is still down 82.4% from the peak of $0.00008616 in October 2021. On July 18 this year, a security breach occurred in the Indian cryptocurrency exchange WazirX, causing the price of SHIB and other tokens to fall sharply. Hackers successfully stole more than $235 million in cryptocurrencies, of which about $100 million was SHIB.