SHIB’s New Coin-Burning Strategy Sparks Debate on Its Status as the “People’s Coin”
Main Idea
Shiba Inu (SHIB) has introduced a new coin-burning method through gaming to enhance its scarcity and compete with Dogecoin (DOGE) as the 'people’s coin', while emphasizing revenue generation for development.
Key Points
1. SHIB introduced a new coin-burning method via gaming, where transactions in SHIB games contribute to burning tokens.
2. SHIB aims to position itself as the 'people’s coin', directly competing with Dogecoin, which currently has a higher market capitalization.
3. Lucie, SHIB's marketing lead, stated that projects must generate their own revenue to fund development, as there is no dedicated SHIB treasury.
4. Dogecoin (DOGE) holds the 8th position on CoinMarketCap with a $35.4B market cap, while SHIB is at 22nd with $7.9B.
5. SHIB games allow players to earn and burn SHIB with transactions, enhancing the coin’s scarcity and utility.
Description
Shiba Inu (SHIB) has introduced a new method to burn coins, enhancing its appeal as a “people’s coin” and competing with Dogecoin. New way to burn SHIB coins introduced. SHIB
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