Meme coin Shiba Inu is apparently looking to secure its own future rather than depending on the whims of the market. The project has a couple of catalysts that are helping to catapult the SHIB price higher by more than 6% in the last 24-hour period.
These involve the launch of its much-anticipated decentralized exchange (DEX), ShibaSwap, and the integration of the SHIB token on a retail platform where consumers shop.
ShibaSwap, a DEX on which several dog-related coins are set to be traded, is now live. Investors have been counting down the days for this event as the Shiba Inu team went through audits to test the mettle of the platform. The two coins that appear to be fueling the DEX are the native
SHIB token as well as one called LEASH. According to the project’s website, a new token called BONE will be available soon. There are also non-fungible tokens (NFTs) in ShibaSwap’s future.
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After connecting with the relevant wallet, such as MetaMask, WalletConnect or Coinbase Wallet, there are a number of ways in which users can or will be able to engage with the ShibaSwap DEX. These include:
Dig — Provide liquidity and earn BONE.
Fetch — Migrate tokens to earn BONE.
Bury — Stake tokens to generate returns.
Swap — Swap current tokens for different ones.
Bonefolio — Check your holdings.
Woof — Stake SSLP and claim returns.
Crypto Retail Push
Shiba Inu has also been integrated into the Shopping.io platform, which already supports more than 100 other cryptocurrencies as well. Now holders of the SHIB token can use their crypto to buy things on the Shopping.io platform at places such as e-commerce giant Amazon, eBay and big-box retailer Walmart. This development strengthens Shiba Inu’s use case as a payment method.
The Shiba Inu team appears set on moving this project forward as the roadmap plays out. In addition, SHIB investors appear loyal and celebrate every milestone. While it is unclear whether SHIB will be the next Binance Coin, or whether or not it even wants to be, its use cases are strengthening, which could create more demand for the Shiba token and lead to more of a runway for gains.