Shiba Inu’s Marketing Lead Lauds KNINE’s Launch – Reasons
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The marketing lead of Shiba Inu recently highlighted the growing success of KNINE, sparking optimism throughout the cryptocurrency community.
Amid a flurry of recent developments within the Shiba Inu ecosystem, the introduction of KNINE, a Liquid Staking Derivatives (LSD) token, seems to be garnering significant interest among cryptocurrency enthusiasts worldwide.
In a post by Shiba Inu’s marketing lead, LUCIE, on X today, attention was drawn to KNINE’s official launch and its rapid success, igniting a wave of optimism for Shiba Inu’s crypto initiative.
In the meantime, experiencing a staggering monthly surge of nearly 240%, this development has captured the attention of cryptocurrency traders and investors worldwide, as SHIB traded positively today, March 13th, after experiencing highly volatile movement over the past 24 hours.
KNINE, an LSD token born out of Shiba Inu’s collaboration with K9 Finance, stands as a cutting-edge liquid staking derivative platform on Shiba Inu’s L2, Shibarium.
Swift Success of KNINE
As per the details shared in LUCIE’s post, KNINE experienced an exceptional launch on March 7, accumulating a volume of $7 million within one hour and quickly becoming a highly sought-after token on DexTools, a DeFi trading platform.
Remarkably, on that day alone, the number of holders surged by nearly 87%, attracting 2,507 investors due to its immense popularity.
In the first 24 hours after KNINE’s Token Generation Event (TGE), the LSD token boasted an impressive $12.56 million in trading volume, attracting over 3,850 holders. Maintaining its dominance, KNINE remained the top trending project with a trading volume approaching $15 million by March 9.
Currently, the number of holders has reached 5.76K, highlighting the project’s ongoing popularity.Today’s price increase for Shiba Inu reflects the optimism surrounding the community’s recent development initiatives, showcasing the meme coin’s innovative cryptographic efforts.
Shiba Inu Experiences a Surge
At the time of writing, the price of Shiba Inu has risen by 1.62% in the last 24 hours, reaching $0.00003317. With an impressive monthly surge of 243%, the meme coin continues to make significant strides in the cryptocurrency market, bolstered by recent developments.
However, as the token’s OI-weighted funding rate decreases and the RSI suggests an overbought condition, investors are speculating about the possibility of an imminent consolidation phase.
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