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Shiba Inu Holders Can Now Earn Interest as SHIB Activates on Lending Protocol Euler

Mon, 01/10/2022 - 09:18
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Tomiwabold Olajide
Holders of SHIB could earn interest after Euler lending protocol activation
Shiba Inu Holders Can Now Earn Interest as SHIB Activates on Lending Protocol Euler
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Euler Finance, a noncustodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset, announced Shiba Inu's activation on its protocol. This implies that Shiba Inu holders can now borrow or lend tokens and earn interest.

According to Euler Finance, "SHIB hosts a dedicated community that has grown the token from a meme coin to a vibrant ecosystem with a nearly $16B market cap!"

Shiba Inu continues the trend it started in late 2021 when it saw a flurry of listings by multiple exchanges in various countries. Among them were Gemini, Kraken, CoinDCX, Bit2Me, South Korean Korbit and Singapore-based Coinhako. Now, the SHIB community anticipates that Robinhood will list Shiba Inu as well. A petition regarding this has obtained 555,066 signatures as of press time.

Shiba Inu teases ''amazing things for 2022''

The Shiba Inu team said recently in a tweet, "Working on amazing things, ShibArmy! Woof!" Queenie, the SHIB Discord channel moderator, stated at the close of 2021 that there will be a "big surprise when entering 2022" for the Shiba Inu community without disclosing further details.

As holders anticipate the unleashing of amazing things into Shiba Inu's ecosystem, the network continues to grow, with the current total holder count at 1,130,443, according to WhaleStats.

The Shiba Inu token burn also continues at a progressing rate. According to Shibburn, 410,300,753,866,373 SHIB have been burned out of the initial 1 quadrillion supply.

At press time, Shiba Inu trades at $0.00002850, experiencing a slight rebound after the prior week's declines. Shiba Inu also ranked 13th largest cryptocurrency by market capitalization, according to CoinMarketCap data.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.