'Dogecoin Killer' Shiba Inu Surges 14% Past Week, Prepares DAO Launch To Empower Holders With Voting Rights

Shiba Inu SHIB/USD is up 14% over the past week following notable community developments and optimistic trader outlooks.

What Happened: Marketing lead Lucie posted a community update on Saturday, announcing that Shiba Inu is planning to strengthen its position in decentralized governance with the launch of a decentralized autonomous organization. This will empower all its holders to have a say in the community's direction and allow holders to vote on future initiatives.

The Shiba Inu governance structure will be anchored by two key councils, the Charity council and the Culture & Heritage Council.

Lucie concluded, "Shib isn't just a digital asset; it's a symbol of what can be accomplished when vision, leadership, and a united community come together to build something truly impactful."

Also Read: From Shiba To Dogecoin, Here Are The Best-Performing Canine Memecoins Of 2024 Fetching Great Returns On International Dog Day

Why It Matters: Lucie also shared a CryptoDep survey, which shows Shiba Inu trailing only Dogecoin by social activity among meme coins.

Transactions greater than $100,000 increased from 56 on Aug.24 to 69 on Aug.25, according to IntoTheBlock data. Daily active addresses increased by 4.4%. 69% of Shiba Inu's community sentiment is bullish and 31% is bearish, according to CoinMarketCap.

Crypto trader World Of Charts predicts a massive bullish wave in upcoming weeks.

$Shib#Shib Breaking Falling Wedge Successful Breakout Can Lead Massive Bullish Wave In Coming Weeks pic.twitter.com/Mqd7WvwfMB

— World Of Charts (@WorldOfCharts1) August 24, 2024

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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