Shiba Inu plans DAO launch and increases SHIB burn rate
Shiba Inu's (CRYPTO:SHIB) marketing leader, Lucie, recently announced significant upcoming changes to the token ecosystem, sparking discussions within the crypto community.
In a statement shared on October 17, Lucie revealed that the Shib Doggy DAO Foundation is set to launch soon, marking a major milestone in the project's shift toward decentralisation.
According to Lucie, the new DAO will provide a legal framework to ensure that decisions made by the community are properly implemented.
The Shib Doggy DAO Foundation will allow SHIB, BONE (CRYPTO:BONE), LEASH (CRYPTO:LEASH), and TREAT (CRYPTO:TREAT) token holders to participate in governance by voting on various initiatives, from community projects to technological upgrades.
This new governance structure is expected to give the Shiba Inu community more influence over key decisions in the ecosystem, further aligning with its decentralised vision.
In addition to the launch of the DAO, the recent increase in SHIB’s burn rate has also garnered attention.
According to reports, around 300 million SHIB tokens have been burned recently, which has helped reduce supply and strengthen the token's market dynamics.
While SHIB's price has experienced some fluctuations, the burn rate has contributed to positive sentiment among investors.
Shytoshi Kusama, a key figure in the Shiba Inu community, recently highlighted an important partnership, fueling additional optimism around the token’s long-term potential.
Despite current market challenges, the overall outlook for SHIB remains positive as these ecosystem changes unfold.
With the introduction of the Shib Doggy DAO and ongoing token burns, the Shiba Inu coin’s future performance is being closely watched.
Investors are hopeful that these developments will enhance the token’s value and decentralised governance structure, although market fluctuations remain a consideration for future performance.
At the time of writing, the Shiba Inu (SHIB) price was $0.00001845.
