NFT News

Shiba Inu Developer Highlights Key Updates Orbiting SHEboshi NFT Launch

One of Shiba Inu's leading developers recently illuminated vital upgrades for the newly launched SHEboshi, nabbing significant attention.
Published by
Shiba Inu Developer Highlights Key Updates Orbiting SHEboshi NFT Launch

Highlights

  • Shiba Inu developer Kaal Dhairya unveils key updates regarding SHEboshi launch.
  • Shiba crypto community stays committed to its community members.
  • SHIB price notes a drop, contrasting the community's recent advancements.

In a significant gust of breakthroughs witnessed across the Shiba Inu ecosystem recently, the meme coin’s leading developer, Kaal Dhairya, addressed the recent launch of SHEboshi, spotlighting critical updates from the Sheboshi squad. Aligning with a post shared by the developer on the social media platform X, the launch of the ERC-404 Sheboshi brings about a forefront of decentralized experimentation to Shibarium, propelling speculations among crypto market enthusiasts across the globe.

The success of this NFT launch is much conveyed by its securing of the #1 spot on OpenSea before even making landfall on Uniswap or Shibaswap. This marks the community’s staggering efforts to jack up the SHIB tokenomics, fueling optimism for the token.

Meanwhile, the Shiba Inu coin traded in the red today, coming as a flipside to the community’s recent plans to revolutionize Shibarium. Amidst the flurry of significant upgrades announced for SHEboshi, the lead developer also stressed vital uncertainties orbiting this experimental NFT’s launch.

Intriguingly, a bug caused a hassle for the launch momentarily, leading to a flurry of activity and transactions worth 652 ETH in just 5 minutes, coinciding with the uncertainties with this ERC-404 NFT launch. While showcasing the project’s immense popularity, this also exposed potential risks within the system.

Here’s a closer look into the upgrades announced:

Advertisement

Re-Adjusted Supply

As the Shiba crypto community promises to stay committed to a fair and equitable launch, it has been revealed that the total Sheboshi supply has increased from 12,000 to 20,000. This readjustment marks the community’s efforts to ensure all snapshot holders can claim and mint their NFTs, aligning with the commitment to provide a fair and equitable launch.

Advertisement

Offers For Unclaimed NFTs

The community plans to offer unclaimed Sheboshis to LEASH holders for the next 24 hours, showcasing efforts to provide value to loyal community members. Meanwhile, the remaining Sheboshis, following the conclusion of distribution for LEASH holders, are to be made available to the general public.

Advertisement

Allocations For Revenues

Further, the community’s focus has remained unchanged from its core mission, even with the unexpected sales. The Shiba crypto community plans to dedicate 50% of all the revenue to:

  • SHIB, BONE, LEASH, and SHI burns, aiming to reduce the supply and add value to these tokens.
  • Contributions to meaningful causes encompassing the Manny Pacquiao Foundation, Women in Blockchain, and many others, as the community chose.
  • Supporting the founding pillars of the project and team.
  • Offering liquidity to the project while also ensuring a way of giving back to the project, and maintaining a hospitable ecosystem for ERC404/DN404 token enthusiasts.

Also Read: ETH Options: Ethereum Sees Largest Single Block Trade Of $17 Million, What’s Next?

Shiba Inu Price Tumbles

In contrast to the community’s monumental achievements and upgrades, the meme coin’s native token, SHIB, traded in the negative territory today. As of writing, the Shiba Inu price noted a drop of 2.13% over the past 24 hours and is currently trading at $0.000009638.

Analysis by CoinGape Media suggests that a notable recovery for the meme coin appears imminent, with Shibarium daily transactions on the rise, further accompanied by the surge in SHIB burn. The community’s recent advancements and upgrades further aids Shiba Inu’s waning bullish momentum below the $0.00001 psychological level.

Also Read: Pro-XRP Lawyer Deaton Hits Back At Massachusetts Senator Elizabeth Warren

Share
Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun Justin Justin Sun responded to World Liberty Financial freezing his wallet by promising…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA Holdings, Inc. announced that it now holds $5.9 billion worth of Bitcoin. This cements…

September 6, 2025
  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops

Strategy, led by Executive Chairman Michael Saylor, has been left out of the latest S&P…

September 6, 2025