The first Shiba Inu-branded fast-food restaurant has announced that it will use SHIB's Doggy DAO to grow and develop its business.
In the announcement made on the Welly Medium account, the fast-food restaurant stated that they broke new ground by partnering with Shiba Inu. With this new partnership, Welly claims ShibArmy will have a say in the direction of the business. According to the announcement, some of this will be done through the Doggy DAO.
Welly added that with the help of Shiba and DOGGY DAO, they will be the first fast-food chain managed and supported by its own community. Not much is known about the details of how "decentralized" Welly will be in ownership and decision-making. However, more information is expected in the near future on how such an organization would work. Curious about what role the Shiba community will play in the growth of their new businesses.
With this latest development, the Shiba community continues to stay on the agenda outside of crypto assets. It can be seen that such new initiatives will help increase the usage area of Doggy, Shiba's decentralized autonomous organization.
On the other hand, Shiba burning continues. In January, 4 different organizations announced that they were burning Shiba. Among these initiatives, Shiba coffee, Brick Buster, Shiboshi NFT, and Bigger Entertainment burned a total of 468.3 million SHIB tokens in January. However, although the current number of incineration is expressed in millions, the amount of incineration corresponds to a modest figure of $ 9,300 according to the current SHIB price. Therefore, such burns do not have a significant effect on the price of the Shiba.
Shiba Inu price today is $0.00002066 and a 24-hour trading volume is $442,191.457. The price has decreased by -4.9% in the last 24 hours. There is a supply of 550 Trillion SHIB coins in circulation, with a total supply of 1 Quadrillion coins. Binance is currently the most active market where this is traded.