Shiba Inu, lead developer, Shytoshi Kusama, explains why he believes SHIB will take the lead in the ongoing memecoin season.
As the meme coin market continues to see a strong uptrend, there have been speculations regarding which meme-based token will lead others.
According to data from CoinGecko, the valuation of the meme coin market is up 13.7% in 24 hours to $62.7 billion. The two biggest tokens in the meme coin category are Dogecoin (DOGE) and Shiba Inu (SHIB). Both tokens alone have a cumulative market cap of over $44 billion.
Kusama Disagrees With KuCoin
With the meme coin season gaining traction, there has been a debate regarding which token will take the lead in the market.
Popular crypto exchange KuCoin joined the debate recently, speculating that the token with the loudest community will lead the meme coin market.
However, KuCoin’s prediction did not go well with Shiba Inu’s lead developer, Shytoshi Kusama, who openly disagreed with the exchange’s opinion.
Shiba Inu Will Lead This Meme Coin Season
Reacting, Kusama emphasized that the community possessing the most dedicated supporters, robust tech, well-crafted vision, strategic partners, and effective execution will prevail in the meme coin season.
He added the SHIB hashtag to the tweet, suggesting that SHIB has all the qualities to take the lead in the ongoing meme coin season. Furthermore, Kusama took a subtle shade at KuCoin, implying that the exchange made its X post to get impressions.
No. The community with the strongest tech, vision, plan, supporters, partners, and execution will. #SHIB But if you wanted some impressions why not say hi? https://t.co/jc6qJ11GJ6
— Shytoshi Kusama™ (@ShytoshiKusama) March 6, 2024
SHIB Records Massive Gain, Outpaces Dogecoin
Meanwhile, Shiba Inu has been making strides in the overall market, ranking among the best-performing cryptos in the past week. According to data published by Robinhood, Shiba Inu saw a weekly gain of 154.1%, outpacing other prominent tokens like Dogecoin (DOGE), which surged 35.9% in the weekly charts.
Shiba Inu’s price spike in the past week can be attributed to multiple factors, especially its vibrant community. Enthusiasts of the Shiba Inu project have been instrumental in driving the adoption of SHIB by convincing new investors to buy the token.
The team behind the Shiba Inu ecosystem has also collaborated with top crypto projects over the past months. For instance, Shiba Inu partnered with K9 Finance in February to introduce liquid staking to Shibarium. At press time, SHIB was changing hands at $0.00003514, up 4% in 24 hours.
