Recent comments by Shiba Inu lead developer Shytoshi Kusama about Artificial Intelligence have sparked rumors about how this innovation could increase the memecoin's utility in the crypto ecosystem.
Shiba Inu is the second most important memecoin in the crypto industry by capitalization, with a Total market value of $4.800 billionAlso, Shiba Inu has one of the most active communities in the world of cryptocurrencies, known as SHIBArmy, which brings together more than 3,7 million followers on the social network X (formerly Twitter) and almost 500 thousand followers on Reddit.
However, as it is a memecoin, the project needs to pivot in new directions that will help it strengthen its usefulness in the crypto ecosystem.
In this regard, Shiba Inu's lead developer, Shytoshi Kusama, has pointed to Artificial Intelligence (AI) as a possible option to grow its ecosystem and offer new and efficient solutions to its loyal users.
Recently, Shytoshi commented on a post about AI by Balaji Srinivasan, a former Coinbase executive. Srinivasan indicated that those in AI should also move towards decentralization. Shytoshi responded “captain it’s obvious.”
Prior to this, Shytoshi had expressed his interest in artificial intelligence, stating that it was working with the team at BAD Idea, an AI-focused company, to push “secret” projects in the Shiba Inu ecosystem related to this innovation.
Shytoshi’s comments, as a lead developer of Shiba Inu, have piqued SHIBArmy’s curiosity about how AI could benefit the project, to improve its efficiency and decentralization and increase its utility.
Shiba Inu strives to increase its utility and decentralization
In mid-August, Shiba Inu’s second layer (L2) blockchain, Shibarium, which was touted as one of the most promising innovations in this blockchain ecosystem, went live.
Since Shibarium’s launch, the network has been experiencing significant and consistent growth, as reflected by Shibarium Scan data. In August, the L2 network registered over 1 million active addresses, just a few days after going live. This new blockchain is designed to build a more efficient, accessible, and lower-cost application ecosystem for users.
In addition to Shibarium, Shiba Inu has also incorporated a high-quality, photorealistic immersive metaverse into its ecosystem. Called Shib The Metaverse, this virtual world will offer a unique experience for SHIBArmy community members to build new projects, generate new business models, and offer novel experiences to users in general.
According to experts, these and all projects in the Shiba Inu ecosystem, including those related to Artificial Intelligence, are part of a broader strategy to become more useful, practical and versatile, in order to abandon the concept of “entertainment” and “humor” widely associated with memecoins.
410 billion SHIB burned to date
A total of 410,66 billion SHIB tokens have been sent to Shiba Inu burn addresses to date, according to data from the Shib Burn platform.
Source: Shib Burn
Despite the impressive number of SHIB tokens burned to date, the same platform indicates that, in the last 24 hours, no SHIB has been burned, decreasing the daily burn rate of the meme cryptocurrency by 100%.
The current circulating supply of SHIB is 589,3 billion units.
Continue reading: Shiba Inu: The big brands that build their businesses with the memecoin
