Shiba Inu, an Ethereum-based altcoin, recently caught noteworthy attention among crypto market enthusiasts as the token’s community announced another strategic partnership with Bad Idea AI on Monday. This partnership facilitates the integration of a new staking pool on MARSWAP, a DEX built atop the Shibarium network.
Furthermore, a well-known crypto analyst also shed light on the cryptocurrency’s potential for further growth, stressing barriers prohibiting the token’s bull run.
Bad Idea AI, a decentralized project, recently unveiled the launch of a new staking protocol on Marswap DEX, a decentralized exchange on the Shiba Inu ecosystem. The announcement came to light on Monday, December 11.
According to the announcement, Bad Idea AI sets afloat BAD staking pool on Marswap DEX as a part of Shibarium adoption. Furthermore, this collaboration comes forth as a step to migrate pools from Bad Idea AI’s DeFi platform to the Marswap DEX. This initiative comes with the primary objective of enhancing the prominence of the Shibarium network.
Moreover, as per the announcement, the BAD staking pool will commence in the next 24 to 48 hours, as of writing.
The decentralized project further stresses the need to unstake cryptos from the DeFi platform and stake assets on Marswap DEX. In addition, the decentralized project also drew users’ attention to ensure connectivity to the Ethereum network.
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The Shiba Inu price remarked a substantial downswing of 6.01% in the past 24 hours, presently trading at $0.000009605. However, in a hurricane of advancements made by the token during the past week, the weekly price jumped 3.58%. This weekly jump was further escorted by a monthly bump of 3%. Interestingly, despite the token showcasing a positive outlook for the future, SHIB today regained a zero in its price value.
Furthermore, aligning with the price fall, the SHIB burn rate also recorded a substantial plunge of 86% today.
In addition, an eminent crypto analyst, Ali Martinez, recently cracked down on SHIB’s bullish momentum. The crypto analyst elucidates the colossal accumulation of 422 trillion SHIB with nearly 90,000 addresses. These tokens were accumulated at an initial price of $0.000016, fueling speculations across the broader crypto market.
According to Ali, the sheer quantity of these accumulations, if sold, has the potential to generate selling pressure orbiting SHIB. Moreover, if this chronicle comes to life, the upward momentum carried by SHIB will undoubtedly be hampered.
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