- Summary:
- Shibarioum hit a one-year low this August, indicating that investors may not find it as attractive as it once was.
Shiba Inu (SHIB) was introduced four years ago as a community-driven cryptocurrency experiment. Inspired by the popularity of Dogecoin, it aimed to develop the concept of a decentralised token.
According to analysts, the Shiba Inu blockchain, Shibarioum, is not as successful as its token. It hit a one-year low this August, indicating that investors may not find it as attractive as it once was.
To reach expectations, Shiba Inu would need to have a market cap of over $580 trillion, dwarfing the entire global economy. The crypto community remains intrigued, partly due to Shiba Inu’s history of defying expectations.
Shiba Inu aims to advance Decentralisation by launching a Decentralised Autonomous Organisation (DAO).
This transition will empower every holder regardless of the size of their stake, to have a say in the community direction,
said Lucie, Shibarium’s marketing strategist.
Lucie also added that DAO is yet to be implemented, and its implementation will give ‘Shibizens’ more control over ecosystems’ future decisions. The developers, who maintain anonymity, announced that they will be seeing back at the end of 2024 and delegating control to the community to allow for a decentralised governance.