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Official marketing lead of the Shiba Inu team, known under the pseudonym Lucie, has addressed the community on several issues in one X thread. Among them was a claim that SHIB has now overtaken Dogecoin as “people’s coin,” about the reluctance of developers to build on Shibarium and a new way of burning Shiba Inu coins.
New way to burn SHIB coins
In the X thread, Lucie mentioned that a lot of projects have been talking abut building something on Shiba Inu and Shibarium, but “so far there is almost nothing made specifically for SHIB.” The reason for this, she stresses, is that building new products costs money.
Lucie admitted that unlike with other blockchains (such as Ethereum or Cardano), there is no specific SHIB treasury to fund any new development. Therefore, “any product for SHIB has to generate its own revenue before it can actually be built.” The SHIB marketing lead also shared what she believes to be the only realistic approach in creating something on a blockchain, and that is “a clear vision and solid execution.”
One of the ways to earn SHIB, per her tweet, is to play the games developed by the SHIB team — they allow earning Shiba Inu. Another positive outcome of playing them is that this helps to burn SHIB coins: “Shibarium burns SHIB with every transaction, and you can use SHIB to play and win in those games.”
Is SHIB overtaking Dogecoin as "people's coin"?
Lucie also claimed that “SHIB was, is, and always will be the people’s coin.” Long before that, tech entrepreneur and the world’s richest man, Elon Musk, gave a similar definition to Dogecoin (DOGE), when stating that it was superior to Bitcoin in terms of being better designed for payments. Musk referred to DOGE as “the people’s currency.”
Currently, DOGE, which was launched in 2013 and became the first-ever meme coin created, occupies the eighth spot on CoinMarketCap with a market capitalization of $35.4 billion. As for Shiba Inu, it has recently gone down to the 22nd spot on the same scale, having a market capitalization of $7.9 billion.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team