In a significant gust of developments witnessed within Shiba Inu’s ecosystem recently, the launch of KNINE, an LSD (Liquid Staking Derivatives) token, appears to be gaining noteworthy traction among crypto market enthusiasts across the globe. In a post shared by Shiba Inu’s marketing lead, LUCIE, on X today, the community member drew attention to the official launch of KNINE, followed by its meteoric success that birthed a tidal wave of optimism for Shiba Inu’s cryptographic venture.

Meanwhile, with a colossal monthly surge of nearly 240%, this advancement piqued the interest of crypto market traders and investors globally as SHIB traded in the green today, March 13, following a highly volatile movement over the past 24 hours.

KNINE is an LSD token resulting from Shiba Inu’s partnership with K9 Finance, staging as a next-generation liquid staking derivative platform on Shiba Inu’s L2, Shibarium.

KNINE’s Swift Triumph

According to the insights offered via LUCIE’s post, following its remarkable launch on March 7, stockpiling a volume of $7 million within just an hour, KNINE promptly emerged as a much-sought token on DexTools, a DeFi trading platform. Notably, that day alone, the holder count noted a colossal upswing of nearly 87%, magnetizing 2,507 investors with its immense popularity.

Breaking Through: $KNINE Official Launch Shatters Records and Expectations – Daily Shib https://t.co/0HBQrDoVoo

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) March 13, 2024

Moreover, within 24 hours post-KNINE’s TGE (Token Generation Event), the LSD token boasted a staggering $12.56 million 24-hour trading volume, further gravitating over 3,850 holders to itself. Riding this remarkable tide of optimism, KNINE remained the reigning champion, firmly holding its spot as the top trending project with a trading volume of nearly $15 million as of March 9. Meanwhile, as of writing, the number of holders totaled 5.76K, underscoring the project’s continued positioning as the hottest topic in town.

Shiba Inu’s price jump recorded today mirrored optimism surrounding the community’s recent developmental ventures, further showcasing the meme coin’s revolutionary cryptographic endeavor.

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Shiba Inu Pumps

As of writing, the Shiba Inu price noted a jump of 1.62% over the past 24 hours and is currently trading at $0.00003317. With a monthly surge of a whopping 243%, the meme coin continues to make bullish waves across the cryptocurrency landscape, with its recent developments further weighing in. However, with a drop in the token’s OI-weighted funding rate, coupled with RSI hinting at an overbought condition, investors speculate over a potential consolidatory phase looming.

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The post Shiba Inu Marketing Lead Lauds KNINE Launch, Here’s Why appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am