The Shiba Inu SHIB/USD ecosystem announced Sunday a partnership with token launchpad DegenSafe, aiming to bring a safer alternative to memecoin deployment and protect traders’ interests.
What Happened: Shiba Inu’s official X handle quoted DegenSafe’s post on its new product, saying, “From meme coins to mechanics, we’re reshaping what Web3 can be. DegenSafe is only the beginning.”
DegenSafe is marketing itself as a reliable token launching platform, offering to put in place adequate protections to ensure that retail traders who chase new launches don’t get scammed. This includes having a trust score for every project, a rug protection fund and a design that blocks snipers and bots.
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Why It Matters: Interestingly, DegenSafe pitched itself as an alternative to Pump.fun, the Solana SOL/USD-based token launchpad that has birthed several popular tokens in recent months, including the billion-dollar Fartcoin FARTCOIN/USD.
Pump.fun’s increasing dominance in meme coin issuance has fueled concerns from some experts, who believe it risks concentrating liquidity, destabilizing the Solana ecosystem, and encouraging fraudulent activity.
The Shiba Inu community, led by mysterious lead Shytoshi Kusama, has been trying to position it as a serious decentralized blockchain project. Decentralized exchange ShibaSwap, Layer-2 chain Shibarium and the virtual space, Shib: The Metaverse are some of the pieces of technology that the ecosystem has developed in recent years.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001181, up 3.14% in the last 24 hours, according to data from Benzinga Pro.
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