Shiba Inu Partner K9 Finance Launches KNINE Token, Sees Strong Start
K9 Finance DAO, a partner of the popular Shiba Inu meme coin, has officially launched its native token, KNINE, on cryptocurrency exchanges.
KNINE Now Available for Trading
- K9 Finance announced the launch on Thursday via its official website and social media channels, sharing the official KNINE contract address.
- Market tracking websites like CoinMarketCap confirm that KNINE is live for trading, with a market capitalization exceeding $14.12 million.
- KNINE is currently trading around $0.0001782 on popular decentralized exchanges (DEXes) like Uniswap and Dodoex.io.
https://twitter.com/K9finance/status/1765784545146667363?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1765784545146667363%7Ctwgr%5E000528f365a85954d9ffd4479f979d482a3567dd%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F03%2F08%2Fshiba-inu-partner-officially-launches-its-token-soaring-by-240%2F
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Strong Early Traction
- KNINE has attracted over 3,500 holders and recorded over 11,290 transactions within its first 24 hours.
- Shiba Inu’s lead developer, Shytoshi Kusama, urged the community to be cautious and only use official sources for information due to potential scams surrounding the launch.
https://twitter.com/ShytoshiKusama/status/1765789257451417738?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1765789257451417738%7Ctwgr%5E000528f365a85954d9ffd4479f979d482a3567dd%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F03%2F08%2Fshiba-inu-partner-officially-launches-its-token-soaring-by-240%2F
Safeguarding Against Scams
- Before the official launch, fraudulent entities attempted to trick users by claiming KNINE was already trading on Uniswap and selling fake tokens.
- The K9 Finance team deployed KNINE with a paused trading function. They recently activated trading after injecting $100,000 in liquidity to Uniswap.
Bullish Sentiment and Future Potential
- The crypto community is showing bullish sentiment towards KNINE due to K9 Finance’s association with Shiba Inu. The token has reportedly surged over 240% since launch.
K9 Finance: A Pillar of Shibarium
- K9 Finance serves as an official liquid staking protocol on Shibarium, Shiba Inu’s upcoming blockchain.
- It aims to establish core DeFi principles within the Shibarium ecosystem.
- K9 Finance became a Shibarium validator last month, allowing users to earn BONE tokens through staking.
KNINE’s Role in K9 Finance DAO
- The KNINE token governs the K9 Finance DAO, a decentralized autonomous organization.
- KNINE holders can stake their tokens to earn DAO fees and real yield generated by validators.
The launch of KNINE marks a significant step for K9 Finance and reinforces its position within the Shiba Inu ecosystem. The token’s strong initial performance and its utility within the K9 Finance DAO suggest a promising future.
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