The acquisition of a significant exchange listing by K9 Finance DAO (KNINE) represents a noteworthy advancement for the Shiba Inu (SHIB) ecosystem. On May 28, 2024, LBank stated that the cryptocurrency will be launched on its cryptocurrency exchange. The Shib team celebrated K9 Finance for its most recent accomplishment.
Lists K9 Finance with LBank
An important step forward for the fledgling initiative will be reached when trading for the KNINE/USDT pair opens in the Innovation Zone. As the authorized liquid staking option for Shiba Inu and the Shibarium blockchain, K9 Finance DAO is acknowledged. Furthermore, the stake-to-earn coin uses the KNINE approach, which was introduced on March 7, 2024.
Additionally, holders receive income from the DAO and the liquid staking product by staking KNINE. The liquid staking product is scheduled to launch in Q3 of 2024. In doing so, K9 DAO would establish itself as the Shibarium blockchain’s first supplier of liquid staking.
The Shib meme coin community reacted enthusiastically to the announcement. The official X account of the Shiba Inu team, led by well-known individuals like Shytoshi Kusama and Kaal Dhairya, congratulated K9 Finance DAO on their listing. They wrote, “Congrats to @K9finance on their new listing!” quoting the LBank post. This increases the value of the #SHIBARMY and represents another significant adoption victory. Continue the fantastic effort! #PartnerShib.
The Shiba Inu team’s support highlights the listing’s strategic significance. With its integration into the Shibarium blockchain, K9 Finance DAO takes advantage of its first-mover advantage—it is now the only provider of liquid staking in the ecosystem.
In the meantime, KNINE accepted deposits starting at 12:00 UTC on May 27, 2024. Withdrawals will be possible as of May 29, 2024. Furthermore, the KNINE listing is anticipated to increase adoption and liquidity, encouraging more interaction within the Shiba Inu community.
Shiba Inu & KNINE Price
Following the recent LBank announcement, the KNINE cryptocurrency saw a sharp increase. It gained 12.5% from the closing price of $0.00002488 to its peak of $0.000028. Shortly after that, though, a bearish trend struck the KNINE cryptocurrency. However, it managed to remain positive.
On Tuesday, May 28, at the time of writing, the price of KNINE has increased by 0.89% to $0.00002506. In addition, the trade volume in a day surged by 42.54%. At the time of writing, the Shiba Inu coin increased by 0.87% to $0.00002472. Additionally, it’s getting closer to the critical $0.000025 resistance level.
If the SHIB price breaks above this barrier and keeps up the trend, the $0.00003 objective is next. Moreover, a spike to $0.00005 is also possible, contingent on the market’s mood. But at the moment, the SHIB long liquidations have doubled the short liquidations, indicating that a decline may follow.
