Lead Shiba Inu dev now states it is in position to compete with top cryptocurrencies such as XRP and Cardano, rather than just being seen as a memecoin.
Shytoshi Kusama, the lead developer of Shiba Inu, has stated that SHIB is no longer just a memecoin.
Instead, the project aims to compete with established cryptocurrencies like Cardano (ADA) and XRP.
This clarification came after a community member named Jolt suggested that Shiba Inu revisit its earlier, humor-based marketing strategies.
Jolt pointed to Litecoin’s recent successful campaign, which utilized a playful, meme-focused approach.
Litecoin has adopted a lighthearted marketing style, even humorously claiming a shift to a memecoin identity with the slogan “Take the L.”
Kusama acknowledged this strategy as clever and entertaining.
Jolt reminisced about Shiba Inu’s initial marketing, which relied heavily on humor and community involvement to attract a wide audience.
He proposed that the project consider returning to this method to broaden its appeal.
In response, Kusama explained that Shiba Inu now follows a community-driven marketing strategy.
Future promotional decisions will be influenced by community feedback, particularly through an upcoming decentralized autonomous organization (DAO) that will allow members to engage in key decisions regarding the project’s marketing direction.
Kusama pointed out that while some ideas could be quickly implemented, others would require a more strategic, long-term approach.
He stressed the need to balance humor with professionalism as Shiba Inu moves away from its memecoin origins.
He emphasized that SHIB is now competing with major utility-driven platforms like XRP and Cardano, rather than other memecoins.
Kusama noted that strategies effective for smaller projects, which have market caps around $6 billion, are not adequate for competing in the higher tiers of the market, where XRP and Cardano operate, with market caps of $50 billion and above.
To thrive at this level, Kusama highlighted the importance of adopting professional marketing strategies that focus on mainstream adoption while still being community-oriented.
Since its launch as a memecoin in 2020, Shiba Inu has evolved significantly, introducing various utility initiatives like blockchain-based games and a Layer 2 solution.
Kusama believes these developments have transformed SHIB into a genuine utility token.
With a market cap of approximately $14.88 billion, Shiba Inu has made substantial progress but still lags behind Cardano’s $26.45 billion and XRP’s $62.76 billion.
Kusama’s remarks reflect the project’s ambition to compete seriously within the broader cryptocurrency landscape, with further updates on its marketing strategy expected as the team refines its approach to meet long-term goals.
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Thanks a lot Frank. I think Shiba Inu has a very long way to compete in the big league. But it’s my favorite.
Love the enthusiasm and ambition from their team though! Thanks for reading 🤝
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