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- The Shiba Inu community is actively participating in governance, voting on fund allocation to enhance decentralization and accountability.
- Despite recent price dips, community efforts, such as petitions and governance votes, aim to drive engagement and long-term value creation within the ecosystem.
According to a source, the Shiba Inu community is gearing up for a significant vote on fund allocation starting August 31, aiming to enhance accountability and decentralization within its ecosystem. This new development follows recent CNF highlights predicting that Shiba Inu will reach a new all-time high by 2025, a year after the Bitcoin halving.
A crucial DAO proposal is on the horizon, where a group including LC, GOSSIP Shib, Kaal Dhairya, Shytoshi Kusama, and a signer chosen by the DAO vote will manage the funds. These funds will then go through another vote, allowing the community to suggest how they should be used. Once the community decides, the signers will execute the plan as agreed.
Shiba Inu Governance Vote on Fund Allocation
Shiba Inu holders are voting on how to use 37.5 ETH from a partner project. The options include securing the funds in a multisig wallet, burning them by buying SHIB, funding a community project, or letting the wallet owner keep the assets. This vote aims to improve the platform’s decentralized governance.
SHIB Price and Community Impact
Reiterating the recent CNF update, we also learned that the Shiba Inu community has initiated a petition urging Binance to burn 1% of all SHIB token transactions daily. The petition has already surpassed 1,000 signatures and is nearing its goal of 1,500 additional votes.
However, the vote has had minimal impact on SHIB’s price so far, with the meme coin trading sideways at a 4.15% change in the past 24 hours. SHIB has experienced a 12.95% drop over the last week, a 15% decline for the month, and currently sits at a price of $0.00001322. See SHIB price chart below.
Despite this, many community members believe that the vote will boost wider community participation. As of now, 98.4% of users have voted in favor of burning the funds, with the voting period set to conclude on September 4.
