Forbes Writer Crowns Shiba Inu as the Meme Coin with Real Bite

June 12, 2024

Shiba Inu, the world’s second-largest meme coin by market capitalization, has received unexpected praise and recognition from no less than Forbes, the premier global business publication. The article is an indicator of how the world of business is keenly watching Shiba Inu’s growth and have assessed it strengths as going beyond the prevalent stereotypical views of meme coins.

Forbes contributor and technology influencer Sandy Carter on Tuesday lavished praise on SHIB in her article entitled “Laughing At Meme Coins Like Iggy Azalea’s Mother? Joke Might Be On You,” highlighting the project’s impressive technological advancements and growing significance in the crypto and meme world.

The COO of Unstoppable Domains, wrote: “Shiba Inu is a great example of how meme coins are developing real utility, and are even setting the technological pace for other digital currencies.”

Carter, whose resume includes roles at AWS and IBM, brought a wealth of experience and a unique perspective on the evolving landscape of digital finance. Her expertise in AI, blockchain, and cloud technologies, coupled with her active involvement on various boards of directors, has positioned her as a leading voice in the tech industry.

In the Forbes piece, she spotlighted Shiba Inu as a prime example of how meme coins were evolving beyond their playful origins and establishing real-world utility. She emphasized that Shiba Inu was not just a passing fad but a serious player in the crypto space, pushing boundaries and setting technological trends.

Specifically, Carter highlighted Shiba Inu’s recent partnership with ZAMA, a Paris-based cryptography company specializing in Fully Homomorphic Encryption (FHE) solutions. “Shiba Inu will be able to create identity, security and risk management solutions that are embedded within payment and other financial technologies. This doesn’t just drive enhanced privacy and security in the meme coin or crypto sector, but is setting standards for the traditional financial industry as it converges with the crypto economy,” Carter underlined.

A few weeks prior to the Forbes article, the Shiba Inu development team, under the guidance of its pseudonymous lead developer Shytoshi Kusama, announced the successful closure of a $12 million funding round dedicated to developing a new Layer-3 blockchain with a strong emphasis on privacy.

This innovative privacy-focused blockchain is set to leverage ZAMA’s cutting-edge technology and will employ the unreleased TREAT crypto asset as its utility and governance token.

As of 8:10 a.m. ET on Wednesday, Shiba Inu was trading at $0.00002183 with a robust 24-hour trading volume up by 28.88% at $752,161,670. This represents a 1.16% dip in the past 24 hours, a 14.86% fall in the past seven days and a 2.81% decline over the last 30 days.

Shiba Inu’s market capitalization stands at $12,898,892,597 with a circulating supply of 589,271,537,167,587 SHIB, the latest data from CoinMarketCap revealed.

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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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