$SHIB

On Thursday, September 26, Shiba Inu Coin (SHIB) Marketing Lead Lucy announced important developments regarding the SHI stablecoin through the X platform, which acted as a catalyst to instantly ignite the enthusiasm of the Shiba Inu Coin community, causing the price of SHIB to surge by more than 13% that day. The launch of the SHI stablecoin aims to enhance the stability and utility of Shibarium, the Shiba Inu Coin-exclusive blockchain network.

Lucy elaborated on the characteristics of the SHI stablecoin, noting that it is "a critical but under-development project in the Shiba Inu ecosystem that has not yet been officially released." She emphasized that the launch of SHI will greatly "enhance the effectiveness of the Shibarium network," a Layer-2 blockchain designed to increase the speed and scalability of Shiba Inu Coin transactions.

Referring to the origins of SHI, Lucy revealed that the stablecoin was conceived by Shiba Inu Coin's anonymous founder Ryoshi in 2021 to provide a reliable and decentralized currency for the Shibarium network. Although SHI's stabilization mechanism has not yet been fully formed, its target anchor price of $0.01 shows its potential as a stable value carrier.

Regarding the specific mechanism of how SHI maintains its stability, Lucy said that it has not yet been finalized, but there is a heated discussion within the community to ensure the stability of its value through schemes such as staking. She further pointed out that the development of SHI is being closely supervised by Shytoshi Kusama and Kaal Dhairya, two core developers of Shiba Inu Coin, and will be released after comprehensive testing to ensure its security and long-term sustainability. "The project team is taking a cautious approach and learning from other successful stablecoin projects," Lucy added.

Lucy also listed the many benefits of the SHI stablecoin to the Shiba Inu ecosystem, the most important of which is to provide a stable medium of exchange, allowing users to trade without fear of cryptocurrency price fluctuations. "Stablecoins are expected to attract potential users who are hesitant about cryptocurrency fluctuations," she explained. The announcement of this good news directly boosted the price of SHIB, which rose 12.43% to $0.00001712 at the close of Thursday.