Shiba Inu unveils its plan to dominate the crypto market in 2024

The giant of meme coins Shiba Inu (SHIB) is making headlines again. In a surprise announcement, the team behind the 13th largest crypto by market capitalization revealed its intention to launch its own decentralized autonomous organization (DAO). 

A natural evolution towards decentralization

Born in 2020 as a community experiment, Shiba Inu quickly transcended its status as a mere meme token. Under the direction of Shytoshi Kusama, SHIB has established itself as a key player in the crypto market. Transitioning to a DAO model represents the logical culmination of this evolution.

Lucie, Shiba Inu’s marketing manager, detailed the contours of this ambitious project in a post on X on August 25. “Shib is preparing to become a key player in decentralized governance with the upcoming launch of its DAO. This transition will allow each holder, regardless of the size of their stake, to have a say in the community’s direction.”

The implementation of this governance model will revolve around two main councils: the Charity Council and the Culture & Heritage Council. These bodies will be tasked with guiding community efforts and preserving the core values of the Shiba Inu ecosystem.

Beyond speculation, concrete applications

The ambition of Shiba Inu is not limited to decentralized governance. The project also aims to strengthen its foothold in the real economy.

 “SHIB is already accepted by thousands of merchants worldwide. Our goal is to further expand these practical use cases“, emphasizes Lucie.

Lead developer Shytoshi Kusama also highlighted the crucial role of the LEASH token in this new ecosystem. “LEASH holders will act as moderators, ensuring system integrity while having voting power over disputes“, he notes.

This evolution is accompanied by a leadership change. Kusama recently announced his intention to step down by the end of the year, paving the way for more community-driven governance.

At the time of writing, the price of SHIB stands at $0.0000141. While modest, this valuation reflects the persistent interest of investors in this project.

In summary, the advent of the Shiba Inu DAO marks a crucial step in the maturation of this unusual crypto. By combining decentralized governance and practical utility, SHIB aims to redefine the contours of decentralized finance, far beyond its meme coin image.