The Shiba Inu team has sparked optimism among investors after disclosing the potential launch of its DeFi platform, Shib Finance.
In a recent X post made by Shibarium’s Updates, the Shiba Inu team alerted its ecosystem to an impending major upgrade that promises multiple utilities for the dog-themed memecoin.
The potential DeFi upgrade aims to offer financial utilities that go beyond mere token swaps, providing users with optimum financial services such as borrowing, lending, saving, and more.
While the Shib Finance launch date has yet to be disclosed, the project is designed to bridge the gap between traditional finance and decentralized finance (DeFi), granting access to businesses and individuals excluded from the traditional financial system.
With this development, Shiba Inu ecosystem members will have the opportunity to utilize key operational tools like Karma Engine, Shib Attestation, and a Privacy-Powered Identity Layer, allowing users to build trust based on their activity and reputation in the ecosystem.
Apart from the multiple financial utilities proposed by Shib Finance, the team has unveiled plans to use the upgrade to enhance trust among users.
A potential breakout for SHIB?
Earlier today, Shiba Inu’s native token, SHIB, showed signs of a potential price surge as approximately 130 trillion SHIB tokens were reportedly profitable at the current price.
Following this notable accumulation of profits by SHIB holders and the unveiling of Shib Finance, there are growing indications that the cryptocurrency is attracting increased attention from investors, suggesting a potential price breakout.
While the bullish momentum surrounding the project continues to build, SHIB has remained resilient, recording a slight price increase of 1.12% over the past day, according to data from CoinMarketCap.
Vladislav Sopov
Dan Burgin