.png){kind=logo}
- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Amidst the massive crypto meltdown, several crypto coins, including Shiba Inu have lost their glory touch. SHIB has been one of the top ten cryptocurrencies that investors prefer to add to their investment portfolios, but its recent volatility has spooked most investors who happen to flee the market due to its constantly falling capitalization. Experts said that the self-proclaimed 'Dogecoin-killer' has lost its charm and is no longer the lucrative investment asset it once was. Shiba Inu developers and creators took this opportunity to enhance the crypto's market dominance. The critics who once claimed that SHIB hardly has any real-world use cases were also impressed by the number of initiatives that the developers took to attract more investors to the asset. One of the most awaited initiatives by SHIB buyers was the launch of the SHI stablecoin. SHI, the stablecoin of Shiba Inu has been under development and is finally about to be launched. But amidst growing volatility in the market, will this launch be a successful one, or another failure like Terra's stablecoin?
Investors have been quite skeptical about the launch of the new SHI stablecoin. Owing to the current circumstances of the crypto market, especially after Terra's implosion, the crypto community is having a hard time accepting and believing the fact that the launch of a new cryptocurrency would eventually enhance a token's market relevance and is also a safe option for investment. But the ever-supporting SHIB community is hopeful that the launch of the SHI stablecoin might finally help Shiba Inu to reach the US$1 mark. Since the stablecoin will not be affected by market fluctuations, SHIB buyers might trust this investment asset, which in turn will enhance the crypto's market value. This phenomenon might seem quite far-fetched right now, given the present conditions of the market, but developers have assured the crypto community that the stablecoin is designed in a way to avoid incidents like TerraUSD.
The lead developer of Shiba Inu has claimed that since there are currently several obvious reasons for concerns around stablecoin investments, SHI was developed carefully to avoid another Terra disaster. The launch of algorithmic stablecoins has spread panic and fear in the market, and the fact that the SHI stablecoin is also an algo-stablecoin is making it even more difficult for developers to gain the trust of the community. But there is still hope for this new coin by SHIB, given the developers have integrated their own independent experimental decentralized protocol into its network. SHI's primary goal will be to act as a global stablecoin that will operate in both Ethereum and Shibarium in this fluctuating cryptocurrency market.
Besides offering a stablecoin, the developers are also launching a TREAT token. Kusama asserts that this new TREAT token would join the Shiba Inu ecosystem to serve as a reward token for all the participants of the Shiba Inu community, whereas, the BONE token would act as a reward token for participants present in the Shibarium. Furthermore, the SHI token will be integrated into the Shibarium and the Shiba Inu crypto game, which is being rescheduled to release in 2022 also. Kusama also assured in the post that the SHI stablecoin is about to enter the testing period soon and that its development is progressing quite well.
If Shiba Inu really wishes to establish its foothold again, then the SHI stablecoin launch ought to be successful. SHI will be met with a lot of competitors, including Ethereum's Merge upgrade and the already launched Terra 2.0 protocol, which is surprisingly gaining momentum, presently. SHI is expected to act as the new lifeline for Shiba Inu. Only time will tell if it actually will serve SHIB to attain the US$1 or not, but we can only hope that the crypto does fulfill all investor expectations and does not implode as Terra did.
