In a significant gust of breakthroughs witnessed across the Shiba Inu ecosystem recently, the meme coin’s leading developer, Kaal Dhairya, addressed the recent launch of SHEboshi, spotlighting critical updates from the Sheboshi squad. Aligning with a post shared by the developer on the social media platform X, the launch of the ERC-404 Sheboshi brings about a forefront of decentralized experimentation to Shibarium, propelling speculations among crypto market enthusiasts across the globe.
The success of this NFT launch is much conveyed by its securing of the #1 spot on OpenSea before even making landfall on Uniswap or Shibaswap. This marks the community’s staggering efforts to jack up the SHIB tokenomics, fueling optimism for the token.
Meanwhile, the Shiba Inu coin traded in the red today, coming as a flipside to the community’s recent plans to revolutionize Shibarium. Amidst the flurry of significant upgrades announced for SHEboshi, the lead developer also stressed vital uncertainties orbiting this experimental NFT’s launch.
Intriguingly, a bug caused a hassle for the launch momentarily, leading to a flurry of activity and transactions worth 652 ETH in just 5 minutes, coinciding with the uncertainties with this ERC-404 NFT launch. While showcasing the project’s immense popularity, this also exposed potential risks within the system.
Here’s a closer look into the upgrades announced:
Re-Adjusted Supply
As the Shiba crypto community promises to stay committed to a fair and equitable launch, it has been revealed that the total Sheboshi supply has increased from 12,000 to 20,000. This readjustment marks the community’s efforts to ensure all snapshot holders can claim and mint their NFTs, aligning with the commitment to provide a fair and equitable launch.
Offers For Unclaimed NFTs
The community plans to offer unclaimed Sheboshis to LEASH holders for the next 24 hours, showcasing efforts to provide value to loyal community members. Meanwhile, the remaining Sheboshis, following the conclusion of distribution for LEASH holders, are to be made available to the general public.
Allocations For Revenues
Further, the community’s focus has remained unchanged from its core mission, even with the unexpected sales. The Shiba crypto community plans to dedicate 50% of all the revenue to:
- SHIB, BONE, LEASH, and SHI burns, aiming to reduce the supply and add value to these tokens.
- Contributions to meaningful causes encompassing the Manny Pacquiao Foundation, Women in Blockchain, and many others, as the community chose.
- Supporting the founding pillars of the project and team.
- Offering liquidity to the project while also ensuring a way of giving back to the project, and maintaining a hospitable ecosystem for ERC404/DN404 token enthusiasts.
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Shiba Inu Price Tumbles
In contrast to the community’s monumental achievements and upgrades, the meme coin’s native token, SHIB, traded in the negative territory today. As of writing, the Shiba Inu price noted a drop of 2.13% over the past 24 hours and is currently trading at $0.000009638.
Analysis by CoinGape Media suggests that a notable recovery for the meme coin appears imminent, with Shibarium daily transactions on the rise, further accompanied by the surge in SHIB burn. The community’s recent advancements and upgrades further aids Shiba Inu’s waning bullish momentum below the $0.00001 psychological level.
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