Shiba Inu investors would like their beloved SHIB token not to be described as meme-coin anymore. This is because the coin now has so many useful features that it goes much further than just a meme. Recently, Shiba has launched projects such as Shiboshi NFTs and ShibaSwap.
SHIB is no longer ‘just’ a memecoin
“SHIB is no longer just a memecoin,” tweeted Shiba investor Cris Kimura. “SHIB is a payment currency that will soon be available worldwide.”
With SHIB moving further into the limelight over the past month, SHBI fans stopped calling the token a meme coin. calling Shiba Inu a memecoin. Tweets like the one below, asking to avoid the ‘meme’ label, got hundreds of likes.
$ shib is not a #shitcoin or a #memecoin it is a real #coin with a real community behind it #SHIBARMY i think #SHIB will be a new era of #crypto.
— Ibourk Oumlil (@IbourkOumlil) June 25, 2021
Why SHIB is no longer a meme coin
So why is it so important to drop the meme coin category? There’s actually a pretty logical explanation for this. Every day we see countless new meme coins hit the market. And, in general, crypto investors see these as tokens that offer no value and are only used to get rich quick. Often they are even scams.
“You should know that these memecoins are generated literally every hour,” wrote one Redditor. “The GREAT majority of these tokens are scams and pump & dumps.”
For example, consider the recently launched Squid Game Token. Which ultimately turned out to be a scam.
Since SHIB focuses on mass adoption, linking with meme coins is harmful to Shiba Inu. By focusing on useful features, SHIB could better position itself for long-term institutional investors and supporters. Of course, SHIB still has a long way to go before it cuts ties to memecoins, but analysts say DOGE and SHIB could someday break with this terminology.
–
