An update on one of the upcoming projects associated with Shiba Inu has been released, providing insights into what to expect.
The SHIB Marketplace is a new development in the Shiba Inu ecosystem, and there has been significant interest in the progress of the project.
Lucie, the Shiba Inu Marketing Lead, shared details with community members about what to expect if the marketplace is launched.
As per Lucie's vision, the Shiba Inu marketplace aims to serve as a central point where community members can fully embrace the decentralized essence of the cryptocurrency industry.
Additionally, the marketplace will ensure financial independence by employing smart contracts to supplant third-party systems, thus preventing dominant corporations from exerting influence.
Instead, the focus will be on facilitating secure and transparent transactions, providing community members with the benefits of a democratic system.
“The Shib ecosystem is becoming a hub for innovation, driven by blockchain technology and a dedicated community. At its core will be Shib Marketplace, a decentralized platform set to democratize power among its users rather than centralized corporations,” Lucie said.
The $SHIB Markerplace on #Shibarium
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 11, 2024
The Shib ecosystem is becoming a hub for innovation, driven by blockchain technology and a dedicated community. At its core will be Shib Marketplace, a decentralized platform set to democratize power among its users rather than centralized… pic.twitter.com/cQGTXOShFD
Shiba Army a Key Asset to the New Marketplace
Lucie also revealed that the community members will play a vital role in the success of the SHIB marketplace as they will expect active participation.
According to the marketing lead, they expect the users to “actively shape the marketplace, becoming participants rather than passive consumers.”
The SHIB Army (popular name for the Shiba Inu community) is the backbone of this crypto project, and they are being called upon for their consistent support.
Moreover, the major components of this marketplace were also outlined.
Shibarium, BONE, and Shiba Inu DAO are described as the core components that will make up the marketplace. It is expected that the marketplace will be built upon the Shibarium—the layer 2 blockchain of their ecosystem.
On the other hand, the BONE token will help facilitate transactions within this marketplace. Ultimately, the function of the Shiba Inu DAO is to help with the platform's mass decision-making.
Shiba Inu Forecast and Latest Performances
Shiba Inu is back to positive performance after a period of massive fluctuations due to Bitcoin price decline.
According to data from CoinMarketCap, the current price of Shiba Inu stands at $0.0000187, representing an increase of more than 6% in the past 24 hours.
SHIB/USD | CoinMarketCap
Furthermore, the weekly chart has increased massively by 16%, and there are chances of further resurgence in the coming days.
The market valuation of this token is also performing stellarly, increasing to $10.6 billion, although the meme coin is still ranked 13th.
Nevertheless, it's important to point out the massive decline in the past few months.
The price of this meme coin fell from $0.000021 to $0.000012 within a month, which was around a 10% drop in value.
Moreover, there's still another 16% decline in the last three months.
Together with the upcoming SHIB marketplace project, the Shiba Inu is showing signs that its ecosystem might do better in the coming months. However, only time will tell.