The Shiba Inu (SHIB) advertising lead, Lucie, has offered insights into the challenges that lie forward for the meme coin. She additionally highlighted how the SHIB ecosystem has developed since launching 4 years in the past.
Challenges That Lie Forward For Shiba Inu
Lucie talked about in an X (previously Twitter) publish that “constructing a decentralized community state is hard” whereas outlining the problem that lies forward for the Shiba Inu ecosystem. Final yr, the Shiba Inu workforce revealed their plans to make SHIB a “decentralized digital nation-state.” Nonetheless, Lucie’s revelation means that it hasn’t been straightforward, though the workforce has no plans to again down.
The ShibPaper accommodates the plan to make Shiba Inu a decentralized community state, which the workforce started implementing final yr. A part of the plan included launching the layer-2 community Shibarium, with the purpose of constructing the community a serious participant within the decentralized finance (DeFi) world.
As Lucie talked about, that hasn’t been straightforward, contemplating that community exercise on Shibarium has nosedived because the begin of the yr. This has offered a setback for the Shiba Inu workforce, particularly seeing how the layer-2 community thrived within the latter elements of 2023 when it recorded hundreds of thousands in each day transactions.
Nonetheless, the Shiba Inu workforce has undoubtedly proven that it could possibly face up to adversity, with how they dealt with Shibarium’s botched launch and rapidly received the community up and working once more. As such, the SHIBcommunity will really feel assured that the workforce can climate any future problem and take SHIB to unprecedented heights.
The workforce has already made nice strides this yr, elevating $12 million to develop its privacy-focused layer-3 community. This community can also be integral to the workforce’s plans to make Shiba Inu a decentralized community state. The layer-3 community can also be well-placed to turn into a game-changer because it addresses privateness considerations when utilizing blockchain expertise.
The community integrates the Totally Homomorphic Encryption (FHE) resolution, enabling encrypted knowledge processing.
How SHIB Has Developed
Lucie famous how Shiba Inu has reworked from a meme coin to a “reputable decentralized platform” and one of many “greatest Web3 communities.” She highlighted how the crypto token at the moment has a market cap of billions of {dollars}, making it the second-largest meme coin and the thirteenth-largest crypto by market cap.
Lucie additionally talked about Shiba Inu’s “exponential development” within the final bull market when it loved an unprecedented value achieve of 150 million p.c. In the meantime, the functions and instruments constructed within the SHIB ecosystem have undoubtedly contributed to the meme coin’s development, which Lucie highlighted. This consists of Shibaswap, Shiba Inu’s native decentralized change (DEX), and the opposite cost partnerships that current real-life use instances for the meme coin.
On the time of writing, Shiba Inu is buying and selling at round $0.00001192, down over 15% within the final 24 hours, based on knowledge from CoinMarketCap.
Featured picture created with Dall.E, chart from Tradingview.com