thecryptobasic.com
Shiba Inu lead Shytoshi Kusama suggests that SHIB is no longer competing with memecoins but with utility assets like Cardano (ADA) and XRP (XRP).
Kusama made the assertion while responding to a SHIB enthusiast who recommended that the Shiba Inu ecosystem team adopt Litecoin’s humorous marketing strategy.
For context, Litecoin’s X handle recently became active, posting memes and humor to attract the attention of crypto enthusiasts.
Litecoin, which jokingly hinted at plans to transition to a memecoin due to current market conditions, stated that its new slogan would be: “Take the L.” This triggered a reaction from Kusama, who described the move as hilarious.
Following his reaction, Shiba Inu community figure Jolt noted that Litecoin’s marketing strategy is effective. The user recounted how the Shiba Inu ecosystem team engaged the community with humor and sh*tposting during its early days. Jolt suggested that the Shiba Inu team consider adopting its previous marketing strategy, which attracted a broad audience.
Shiba Inu Uses Community-Driven Marketing Approach
Kusama acknowledged Jolt’s comments, emphasizing that he is actively listening and planning Shiba Inu’s future strategies. The Shiba Inu leader pointed out that while some changes can be implemented immediately, others could take time.
He indicated that Shiba Inu utilizes a community-driven marketing approach and added that the upcoming DAO will allow SHIBArmy to have a say in crucial decision-making, including marketing.
SHIB No Longer Competing with Memecoins, But XRP and Cardano
Furthermore, Kusama noted that Shiba Inu is no longer competing with memecoins, including Litecoin, which jokingly announced its meme transition.
According to him, Shiba Inu is now in competition with ‘OG’ assets like XRP and Cardano, emphasizing the need to break into the legacy market using professional marketing tactics.
To compete at this level, the Shiba Inu lead suggested that there must be a balance, hinting at a combination of entertaining marketing with professional strategy, which supports widespread adoption.
Kusama added that Shiba Inu could not use the same marketing strategy suitable for projects within the $6 billion market cap range to compete effectively in the $50 billion region. However, he stated that the ecosystem team would adopt any marketing strategy the community recommends through the DAO.
He promised to share more details about Shiba Inu’s marketing approach, which could help SHIB compete with XRP and Cardano.
Although Shiba Inu launched as a memecoin in 2020, Kusama believes that the cryptocurrency has transitioned to a utility token, thanks to the multiple projects launched over the years, including games and an L2 blockchain. As a result, Kusama thinks Shiba Inu is up against XRP and Cardano, not memecoins.
While SHIB has a market cap of $15.09 billion, Cardano and XRP are valued at $27.12 billion and $65.34 billion, respectively.