Shiba Inu DAO Approves 'ShibaBank': A Meme Coin Goes Corporate

In a bizarre turn of events, the Shiba Inu $SHIB

DAO has passed a proposal to launch “ShibaBank”—a decentralized bank offering yield accounts and lending services. This marks a radical evolution for a meme coin once seen as a joke. ShibaBank will be governed by SHIB holders and run on the Shibarium Layer-2 network. The news shocked crypto purists, with some accusing SHIB developers of “selling out” to TradFi norms. Still, SHIB soared 15% on the news, with trading volume nearly doubling in 24 hours. Critics argue it’s a marketing gimmick, but developers say it’s a genuine attempt to evolve the SHIB ecosystem. If successful, this could be the first meme coin to transition into a serious financial product. Whether this is innovation or desperation remains hotly debated.