tl;dr
Shiba Inu executive hints at the launch of the SHI stablecoin on Shibarium, emphasizing its significance for stability, utility, and DeFi integration. The announcement has sparked significant market interest, coinciding with a surge in Shiba Inu's price and futures trading volume. The stablecoin's p...
Shiba Inu executive hints at SHI stablecoin launch on Shibarium - SHI stablecoin expected to enhance stability and utility for Layer 2 - SHI's significance on Shibarium highlighted by Shiba Inu marketing lead - Shiba Inu's price surges amid SHI stablecoin announcement
Shiba Inu executive hints at the launch of the SHI stablecoin on Shibarium, emphasizing its significance for stability, utility, and DeFi integration. The announcement has sparked significant market interest, coinciding with a surge in Shiba Inu's price and futures trading volume. The stablecoin's potential impact on the digital asset has further fueled optimism within the crypto community.
Shiba Inu marketing lead Lucie reveals vital functionalities surrounding the SHI stablecoin, which is set to release on Shibarium. Lucie's recent comments on the SHI stablecoin have garnered noteworthy attention across the global crypto landscape. On Thursday, the marketing lead revealed how the stablecoin is a game-changer for Shibarium, staging as a developmental key for stability and utility for Layer 2. Although not launched yet, its introduction to the meme coin’s ecosystem is expected to be pivotal.
In an official X post dated September 26, Lucie revealed that the SHI stablecoin, initially unveiled in 2021 by Ryoshi, is currently in the works. She added, “The original idea for SHI is to peg it at $0.01, though the specific mechanism for achieving this peg has not been determined.” Meanwhile, ongoing community discussions continue to gauge potential options to bolster the peg seamlessly.
Shiba Inu marketing lead also shared vital insights into why the stablecoin is important for Shibarium, the Layer 2 blockchain. SHI remains poised to enhance price stability, utility, DeFI integration, adoption, liquidity provision, interoperability, and transaction security, among a stockpile of other things. These statements, in light of the looming SHIBACON event set to take place in November, have echoed a buzz among market enthusiasts.
Simultaneously, Shiba Inu price surged nearly 11% today, sparking speculations of hitting $1 on a 2021-like rally and SHI stablecoin launch. Shiba Inu’s intraday low and high were $0.00001475 and $0.00001652, respectively. The meme coin’s 24-hour trading volume surged by a whopping 131% to $520.52 million today. This rising action has caused a stir in the crypto community. Coinglass data indicated a 22% surge in SHIB futures OI to $42.43 million. Further, the coin’s derivatives volume noted a staggering 192% uptick to $179.36 million. Coupled with today’s price upswing, SHIB currently seems to be on an uptrend. The SHI stablecoin announcement adds to the optimistic buzz surrounding the digital asset.
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Industry Sector: Manufacturing
Key Subsectors: Ship & Boat Building & Repairing
Financial Highlights
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Dividend Yield: 2.51%
P/E Ratio: 12.83
Current Price: $164.48
Beta: 0.0789
Revenue: $44.946 billion
Net Income: $3.23 billion
Debt to Equity: 0.207
Current Ratio: 0.18
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Employees: 8503
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Change: 0.2
Change(%): 2.29%
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Dividend Yield: 0.034
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P/E Ratio: 42.16
EPS: -0.617
EPS(%): -0.178%
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