Shytoshi Kusama, Shiba Inu’s lead developer, has clarified that SHIB is no longer positioning itself as a memecoin. Instead, the project seeks to compete with established utility-focused cryptocurrencies such as Cardano (ADA) and XRP.
Kusama made this statement in response to a suggestion from a community member, Jolt, who proposed revisiting Shiba Inu’s earlier, humor-driven marketing strategies. Jolt cited the recent success of Litecoin’s playful campaign, which has gained traction for its engaging, meme-centric approach.
Litecoin’s Playful Marketing Strategy
Litecoin recently embraced a humorous tone in its marketing efforts, using social media to capture the attention of crypto enthusiasts. As part of this approach, Litecoin jokingly announced a shift toward memecoin branding and adopted the slogan, “Take the L.” Kusama responded to this campaign, calling it an amusing and clever strategy.
Jolt reflected on Shiba Inu’s early days when its marketing heavily relied on humor and community engagement, which helped attract a diverse audience. He suggested that the project consider returning to this approach to expand its reach further.
In response to Jolt, Kusama explained that Shiba Inu now employs a community-driven marketing strategy. He stressed that future decisions about promotions and outreach would be shaped by feedback from the community, particularly through the upcoming decentralized autonomous organization (DAO).
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This system will enable community members to participate in important decisions, including the direction of the ecosystem’s marketing.
Kusama noted that while some suggestions could be implemented quickly, others would require a longer-term plan. He emphasized the need to balance humor and professionalism to reflect Shiba Inu’s shift away from its memecoin roots.
Competing with Industry Leaders
Kusama further clarified that the asset is no longer competing with other memecoins. Instead, the project strives to establish itself alongside larger, utility-driven blockchain platforms such as XRP and Cardano.
He highlighted that the strategies suitable for smaller projects with market caps around $6 billion are insufficient when competing in higher tiers, such as the $50 billion range where XRP and Cardano operate.
To succeed at this level, he emphasized the importance of adopting professional marketing strategies aimed at mainstream adoption while maintaining a community-focused approach.
Transitioning from Memecoin to Utility Token
Launched in 2020 as a memecoin, the digital asset has evolved significantly. The project has introduced various utility-driven initiatives, such as blockchain-based games and a Layer 2 blockchain solution, which Kusama believes has transformed SHIB into a utility token.
With a current market cap of around $14.88 billion, Shiba Inu has grown significantly but still trails behind Cardano’s $ 26.45 billion valuation and XRP’s $62.76 billion. Kusama’s comments signal the project’s ambition to compete in this space and position itself as a serious player within the broader cryptocurrency market.
Additional updates on the token’s marketing approach are expected, as the team continues to refine its strategy to support its long-term goals.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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