- Shiba Inu announced it would launch its own Decentralized Autonomous Organization (DAO) to take its user-centric approach one step further.
- The DAO-governed ecosystem will have two councils, the Charity Council and the Culture & Heritage Council.
- $SHIB’s price has increased by 1.06% in the last 24 hours and 13.43% in the last week, showing good upside potential.
The Shiba Inu team has announced an upcoming DAO for the meme coin. This would ‘empower every holder, regardless of the size of their stake,’ placing the ecosystem’s control in the hands of its users.
LUCIE (the team’s marketing lead) explained the benefits of a Shiba Inu DAO on X, claiming it would have two governing councils, the Charity Council and the Culture & Heritage Council.
Moreover, $SHIB has shown positive performance, increasing to $0.00001491 level (+1.29% in the last day).
Let’s see why Shiba Inu’s DAO launch could make the project grow wings.
$SHIB DAO Governance – More Control for Holders
In the X announcement, LUCIE explains that a DAO would be a ‘major milestone’ for Shiba Inu, empowering its users.
With users gaining more control over ecosystem decisions, Shiba Inu can evolve in a community-led direction, satisfying the majority rule.
For instance, HODLers could decide on the ecosystem’s resource allocation, policies, and regulations, promoting transparency and accountability for important decisions.
The fact that even HODLers with lower $SHIB stakes can participate in the DAO is a significant benefit to smaller investors. It also shows a fair approach from the developer team.
According to LUCIE, the DAO will have two councils:
- Charity Council, dealing with charity outreach
- Culture & Heritage Council, preserving $SHIB’s unique culture through inclusivity and transparency
$SHIB’s Price Is Showing an Expected Performance Boost
Following the DAO announcement, Shiba Inu increased by 1.06% in the last 24 hours, reaching $0.00001491. It’s also up by 13.43% in the last week, showing good upside potential.
On the other hand, the coin is down by 11.08% in the last month. This ecosystem shift is bullish long-term, especially seeing how $SHIB is aiming for mass adoption.
While $SHIB hasn’t shown impressive performance in the last four months, that might change soon.
Shibarium (Shiba Inu’s Layer 2 blockchain) has also recently turned one-year-old, and that might contribute to the coin’s eventual upside.
The Verdict – How Will This Impact Shiba Inu?
Having a DAO bring its community together is a significant step forward, and it will likely foster more trust and cooperation within the ecosystem.
It remains to be seen how the announcement will impact Shiba Inu’s future performance, but we’re optimistic of its potential.
References
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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