Shiba Inu Ecosystem Launches New Reward Token TREAT, Promises More Surprises in the Pipeline

The Shiba Inu ecosystem team has officially introduced its new reward token, TREAT, which began trading on three cryptocurrency exchanges: Bitget, KuCoin, and Gate.io.

The Shiba Inu ecosystem team has introduced its new reward token, TREAT, which began trading on three cryptocurrency exchanges.

According to an announcement on Saturday, the TREAT token is now available for purchase on Bitget, KuCoin, and Gate.io. The team encouraged users to purchase TREAT through its initial centralized exchange partners and warned about risks, including scams and fake tokens.

The trading for TREAT commenced at 11:00 a.m. (UTC) on January 14th and is initially listed on Bitget, KuCoin, and Gate.io. These platforms confirmed TREAT’s listing last week and allowed deposits as soon as the announcement was made.

To start the token’s launch, the Shiba Inu ecosystem team also organized an airdrop to give out free tokens to these exchange users. The participants were required to provide their account IDs and deposit addresses, and they were given a minimum of 1,250 TREAT tokens, which is around $12.50 at the initial listing price of $0.01.

When TREAT went live, its price increased to $0.035 on KuCoin and $0.15 on Bitget. TREAT has a total token supply of 10 billion tokens and daily trading volumes of about $15.7 million.

Shiba Inu Ecosystem Signals Future Developments

After the launch of TREAT, Shytoshi Kusama, the head of the Shiba Inu ecosystem, posted on X (formerly Twitter). Kusama said that even though the launch was not easy, it marks the beginning of a new era for the Shiba Inu ecosystem. He also hinted at further plans for future rewards connected to TREAT.

Lucie, the marketing lead of the Shiba Inu ecosystem, also added to the sentiment stating that this is only the beginning of the potential of TREAT. The team noted that more surprises and developments regarding TREAT will be unveiled in the next few weeks.

Shiba Inu Burn Rate Rises after TREAT’s Launch

The burn rate of Shiba Inu has risen significantly since the TREAT launch. Within the last 24 hours, over 21 million SHIB tokens have been burnt, a rise of 2,229% compared to previous levels. The burn has decreased the total supply of SHIB, which may raise its scarcity.

This spike in the burn rate coincides with a rise in open interest for SHIB, with $405 million worth of derivatives contracts being opened. The high trading volumes for SHIB derivatives, especially on Gate.io, are considered a bullish signal for SHIB despite the token having declined 75.74% from its all-time high.