The Shiba Inu team lead has hinted at a possible project launch ahead at a time community anticipation for new solutions is high.
The Shiba Inu ecosystem has always kept community members engaged with different projects. The dog-themed memecoin is one of the most liked in Web3 as various activities occupy users within its ecosystem. Hence, users were unsurprised when Lucie, the marketing team lead at Shiba Inu, teased that ‘something big is coming.’
Speculation Brews Around Shiba Inu’s Upcoming Project
In a post on X, Lucie says Shibizens, members of the Shiba Inu community, are anticipating the launch of a project. The marketing lead, however, did not specify the project but described it as groundbreaking.
Lucie leaving out the details allows for speculation among community members. Some users in see it as a deliberate strategy to drive engagement in the ecosystem ahead of the launch.
“Speculation fills the air—will it be Shib Marketplace, Shibahub or Treat, or a whole new world?” Lucie asked.
This teasing question leaves several possibilities open as to what the project could be. The SHIB team is known to take on several projects simultaneously. These include Shib Marketplace, TREAT token, SHIB Metaverse, and the layer-3 blockchain on Shibarium.
This year, the SHIB team has performed two major upgrades or hard forks to improve Shibarium’s performance and transaction speed. The team also achieved lower gas fees and enhanced the overall user experience.
Deflationary Mechanisms and Price Performance
In one of the hard forks, the team developed a burn portal that utilizes BONE saved from gas fees to automatically incinerate coins. The burn rate in the Shiba Inu ecosystem remains a crucial metric that community members monitor, and the portal gives users control.
Burning has always been the memecoin’s deflationary mechanism for checking supply and stabilizing prices. BGECrypto reported a burn rate spike of 772% earlier this week with hopes of a price breakout.
At the time of writing, data shows Shiba Inu traded up by 0.86%, with a price of $0.00001467. However, market volume was down by 15.87% to $161.81 million.
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