KUTV, a top television station based in Utah, United States, highlighted the launch of Shiba Inu’s partner token KNINE.
Popular American TV station KUTV mentioned Shiba Inu’s partner, K9 Finance DAO, in the recent episode of “Eye On Your Money.”
Shiba Inu Makes Big News Through Its Partner
Specifically, Cristina Flores, who anchored the program, noted that Shiba Inu has been making strides in the crypto market by partnering with K9 Finance to introduce tech innovation to the project.
“Cryptocurrency meme coin Shiba Inu has also been making big news. Shiba Inu has officially partnered with K9 FInance, which brings significant tech innovation to the coin,” Flores was quoted as saying.
She further emphasized that the rollout of K9’s native token, KNINE, has been successful, with its price surging 40x since its launch.
It is worth mentioning that the reporter also commented on other developments in the crypto market, including Bitcoin hitting a new all-time high (ATH).
K9 Finance Founder and Advisor React
K9 FInance DAO founder Buzz.Shib called attention to the report, emphasizing that KNINE’s launch made the news in Utah, where the KUTV studio is located.
“The #SHIBARMY & #K9Unit are making waves,” he remarked.
As expected, the report stirred positive reactions within the K9 and Shiba Inu communities. Xanders Shib, a K9 Finance advisor and admin of Shiba Inu’s Shibarium Telegram group, described the report as amazing and praised K9 Finance’s team and community members.
I remembered when $SHIB was on the news first time. This is really amazing. The work of @K9finance is amazing. The community and the team. Proud to be part of the advisors. LFG #K9Unit https://t.co/i1FJXs5qY0 pic.twitter.com/QLCob54Owy
— Xanders Shib🇻🇪 (@ShibaXanders) March 15, 2024
KNINE Token Surges Over 700% Days After Its Launch
While K9 Finance is still working on launching its liquid staking and derivatives platform on Shiba Inu’s L2 blockchain Shibarium, the team behind the project debuted the KNINE token on March 7.
The launch of KNINE met investors’ expectations, as its price soared to $0.0003543 on March 11, marking the token’s current ATH. KNINE’s peak price represents an increase of over 700% from the token’s all-time low of $0.000048, which was recorded on the day of its debut.
Like most cryptocurrencies, KNINE has suffered a retracement as it currently changes hands at $0.0002027. At press time, KNINE has lost 7.24% on the daily charts. Conversely, the token is up 22.6% over the past seven days.
K9 Affiliation with Shiba Inu
KNINE’s successful launch can be attributed to its strong ties with the Shiba Inu project. In addition to being an official partner of the Shiba Inu ecosystem, K9 Finance went a step further by appointing top Shiba Inu team members, including Shytoshi Kusama, as official advisors.
Despite not announcing plans to directly burn Shiba Inu, K9 has still gained the support of the Shiba Inu community. It plans to deploy its liquid staking platform on Shibarium, a move that will indirectly contribute to the ongoing SHIB burns. As more users flock to the K9 Finance platform, the network’s gas fees will surge, thus accelerating Shibarium-powered SHIB burns.
Recall that the Shiba Inu ecosystem team has burned over 56 billion SHIB using a portion of Shibarium gas fees. K9’s upcoming launch on Shibarium would bolster the number of SHIB tokens that could go up in flames, as more users flock to the platform.
In the meantime, KNINE’s market cap stands at $15.41 million, while the number of on-chain addresses holding the token has risen to 5,923 from its March 12th value of around 5,600.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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