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Shiba Inu Coin Team Lauds K9 Finance On Major Listing, KNINE Price Soars – Crypto News

Published

11 months ago

May 28, 2024

Dripp

In a significant development for the Shiba Inu (SHIB) ecosystem, K9 Finance DAO (KNINE) grabbed a major exchange listing. The crypto will be listed on the LBank cryptocurrency exchange, as announced by LBank on May 28, 2024. Hence, the Shiba Inu team lauded K9 Finance for the latest achievement.

LBank Lists K9 Finance

Trading for the KNINE/USDT pair will commence in the Innovation Zone, marking a major milestone for the nascent project. K9 Finance DAO is recognized as the official liquid staking solution for Shiba Inu and the Shibarium blockchain. Moreover, the KNINE token, launched on March 7, 2024, operates on a stake-to-earn model

In addition, by staking KNINE, holders earn revenue from the liquid staking product and the DAO. The liquid staking product is set to launch in Q3 of 2024. This would position K9 DAO as the pioneering liquid staking provider on the Shibarium blockchain..

The announcement was met with enthusiasm from the Shiba Inu meme coin community. The Shiba Inu team’s official X account, helmed by influential figures such as Shytoshi Kusama and Kaal Dhairya, congratulated K9 Finance DAO on their listing. Quoting the post by LBank, they wrote, “Congrats to @K9finance on their new listing! This is another big win for adoption and brings more value to the #SHIBARMY. Keep up the amazing work! #PartnerShib.”

The endorsement from the Shiba Inu team underscores the strategic importance of this listing. K9 Finance DAO’s integration into the Shibarium blockchain leverages its first-mover advantage, as it currently stands as the sole liquid staking provider within the ecosystem.

Meanwhile, deposits for KNINE began on May 27, 2024, at 12:00 UTC. Whilst, withdrawals will be available starting May 29, 2024, at the same time. Moreover, the KNINE listing is expected to enhance liquidity and adoption, driving further engagement within the Shiba Inu ecosystem.

Also Read: SHIB Price Analysis: Why Shiba Inu Rockets As Crypto Fear And Greed Hits 74

KNINE & Shiba Inu Price

The KNINE crypto surged significantly after the recent LBank announcement. The crypto peaked at $0.000028, representing a notable gain of 12.5% from the closing price of $0.00002488. However, the KNINE crypto was hit by a bearish trend shortly after. Nonetheless, it managed to stay in the green.

As of writing, the KNINE price was up by 0.89% to $0.00002506 on Tuesday, May 28. Furthermore, the 24-hour trading volume skyrocketed 42.54%. Whilst, the Shiba Inu coin gained 0.87% to $0.00002472 at the time of writing. Moreover, it’s inching closer to the crucial resistance level of $0.000025.

If the SHIB price breaks above this level and manages to sustain the momentum, the $0.00003 target is next. Furthermore, a surge to $0.00005 can also be expected, depending on the market sentiment. However, currently, the SHIB long liquidations are double of the shorts liquidated, suggesting that a downtrend could ensue.

Also Read: Shiba Inu Super Diamond Trader Liquidates Holdings, Followed By A Secret Message

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