SHIB’s DeFi quest escalates with a new voting system for HODLers.

The SHIB DAO propels a dual-council system with charitable events.

SHIB rebound efforts are met with a hefty 440T SHIB resistance line. Shiba Inu (SHIB) continues its full-on decentralization push with the introduction of SHIB DAO, a new decentralized autonomous organization. Lucie, the lead of SHIB Token’s marketing team, announced this at 10:29 AM GMT on August 25, 2024. SHIB DAO serves the purpose of inclusion, as all SHIB holders can vote on Shiba Inu’s DeFi ecosystem direction.Key Foundations of SHIB GovernanceThe message says the move to implement a SHIB DAO focuses on real-life use cases and aspires to transition SHIB from “a niche digital asset to a practical tool for daily use.” Transcending its meme coin origins since its launch in October 2020, SHIB now strives to become an all-around ecosystem with Shibarium Layer-2, Shiba Eternity P2E, and a physical fast-food restaurant in Naples, Italy.While the SHIB DAO hasn’t launched yet, Shiba Inu’s marketing lead revealed the structure of the DAO. This comes just two weeks after the official SHIB X handle introduced the SHIB Hub. This super app encompasses various trading, educational tools, and gaming features in Shibarium’s DeFi surroundings. Sponsored The SHIB DAO’s structure can be divided into the Charity Council and the Culture and Heritage Council. The community activity incubator aims to strengthen the SHIB Army’s imagery with real-life adoption cases while providing charitable outreach. SHIB custodians will likely need TREAT, the upcoming token, to vote for the next step in communal activities.Shiba Inu Coin’s Price Recovery HurdlesFollowing the news, the ecosystem’s main token soared above the key support level of $0.000015. SHIB softly bounced from the three-month lows of $0.00001107, hit on August 5, 2024, fetching over 10% since August’s bottom. Hitting a seven-day high of $0.00001603, SHIB retraced 2.2% over the past 24 hours.If Shiba Inu continues on the bullish track this week, a retest of the monthly top of $0.000017 could follow, given that SHIB clears the hefty resistance of 440.48T SHIB between $0.000016 to $0.000019, according to IntoTheBlock’s on-chain metrics. Sponsored However, the ‘In The Money’ metric points at almost evenly balanced scales between holders making a profit and holders in the red, 48% and 49%, respectively. Other on-chain signals like large transactions and net network growth remained bearish as of publication time.On the Flipside It’s yet to be determined if all SHIB holders are given voting rights on the new DAO, as Shiba Inu coin currently has 1,405,207 holders on Ethereum, while the project’s native Layer-2 Shibarium holds 1,812,963 wallets. Why This MattersMeme currencies face enormous challenges when offering utility besides holding or speculating on the asset. By building a DAO, the SHIB community can participate in decision-making.Discover DailyCoin’s hottest crypto news:9 Out of 10 Top Coins Experience Significant Weekly GainsWill XRP ETFs Become a Reality? Here’s How They Could Work