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- A DeFi Platform is set to be launched in the SHIB ecosystem to enable users and organizations to access a range of services, including reputation-based borrowing and undercollateralized loans.
- SHIB is steadily climbing up the price curve as an analyst predicts a whopping surge of 450% to hit $0.000081.
Shibarium Update, a popular ecosystem news channel on X, has hinted at an upcoming launch of a Decentralized Finance (DeFi) platform (SHIB Finance) within the Shiba Inu ecosystem. While the launch date was not disclosed, this development was highlighted to be a significant shift beyond the usual token swapping to full financial services such as lending, borrowing, etc.
According to the post, SHIB Finance would leverage tools like Shib Attestation and Karma Engine, as well as a Privacy Powered Identity layer to create and maintain trust among users. Interestingly, this would be achieved through reputation and activities within the network. In simple terms, SHIB Finance is strategically designed to reward users based on “who they are on the chain rather than what they have.”
Shibarium Updates also summarized the overall provisions of the platform into three key points:
- Reputation-Based Borrowing: Users with verified activities would not need massive collateral to borrow.
- Undercollateralized loans: Institutions or organizations which have been able to build good on-chain standing would be able to obtain funding without the need for higher requirements.
- Advanced Financial Tools: Users would be able to access diverse tools, including saving vaults and synthetic assets.
Amidst the backdrop of this, the Shiba Inu community is optimistic about the potential approval of its exchange-traded funds applications. As discussed earlier, SHIB marketing lead Lucie has highlighted that the strong market presence of the asset and its decentralized nature make it an ETF-worthy asset.
Shiba Inu (SHIB) Price Analysis
SHIB has recorded an impressive surge of 10% and 18% on its daily and weekly price charts respectively. At press time, the asset was trading at $0.00001486, an incredible move from its monthly low of $0.000010 towards its monthly high of $0.000015.
Based on data, 130.83 trillion SHIB tokens were in profit when the price was around $0.00001349. Glassnode data shows that more than 20% of these investors purchased the asset at a very low price and sold off their holdings at the peak.
Whales have also played a crucial role in the recent fluctuations as inflows into large holders’ wallets increased by 2025%. On March 20, for instance, 6.26 trillion SHIB were reported to have been acquired by whales. Meanwhile, this is a sharp rebound from the previous 88% dips in whale activities, as disclosed by CNF in recent news coverage.
Since March 22, SHIB has recorded a streak of gains, breaking above a crucial resistance range of $0.0000137 and $0.0000138 within the process. SHIB is also reported to be targeting the SMA 200 at $0.00001915 and $0.000029.
Earlier, an analyst known as Crypto ELlTES predicted that SHIB would rise 17 times from the current level. Echoing a similar position, another renowned trader identified as ZAYKCharts disclosed that the asset is breaking out of a descending wedge pattern, hinting at a trend reversal.
Joining this discussion, market expert Javon Marks highlighted a potential breakout to $0.000081. As indicated in our previous analysis, Marks expects the asset to surge by 450% to validate its “textbook bull signals.”
