The community of Shiba Inu (CRYPTO: SHIB) — the coin that was once touted as the Dogecoin (CRYPTO: DOGE) killer — is now rejecting the memecoin title, insisting that the token’s utility made it a “payment currency.”
What Happened: A New York illustrator and Shiba Inu proponent recently highlighted Shiba Inu is not a memecoin anymore, instead “it is a real coin with a real community behind it.” A recent Medium post by volunteer Shiba Inu project lead Shytoshi Kusama goes as far as to say that “despite the ignorant masses who still think we are just a meme, we have long-term goals, and have put into play one of the most comprehensive truly decentralized plans in crypto existence.”
See Also: SHIBA INU PRICE PREDICTION
There is substance to those claims: the idea Shiba Inu is “just a memecoin” is not anymore entirely correct. Following the launch of the Shiboshi non-fungible tokens (NFTs) and the token’s decentralized exchange (DEX), Shiba Inu is also a decentralized finance (DeFi) and NFT ecosystem token. That being said, does it really mean that it stopped being a memecoin altogether and started being “more than just a memecoin” instead? This is in line with the idea of one proponent recently tweeting that “SHIB is not a mere memecoin.”
SHIB Price Action: On Monday afternoon, Shiba Inu was trading at $0.00005443 after seeing its price increase by about 3.86% over the last 24 hours according to CoinMarketCap.
Photo by Ferhat Deniz Fors on Unsplash
This news is republished from another source. You can check the original article here
Be the first to comment