Gushiken Yona
In a surprising tweet, billionaire Mark Cuban elevates Shiba Inu to a rare status: a meme coin that, according to him, has actually “worked.” This classification, delivered during a discussion on launching his own meme coin, lends a new level of legitimacy to the project that started as a meme coin but has since evolved into a tech powerhouse.
A Rare Nod To Shiba Inu in the Meme Coin World
Cuban’s X post, proposing a meme coin with a 20% float and a transparent revenue stream to the U.S. Treasury, was framed as a response to the current meme coin craze. He stated, “If you want to gamble, gamble. But at least use it to make a dent in the US Debt.”
This proposal, however, was quickly followed by his acknowledgment that “Doge, Shibu Inu and only a few others have worked,” placing Shiba Inu in a select category of successful meme coins.
Skepticism and the Community Debate
Crypto philosopher artchick.eth immediately challenged Cuban’s idea, warning, “Your followers will get rekt.” The user argued that Cuban’s launch would be plagued by information asymmetry and that “there is no ‘Sale’ the coin price is determined by supply in lps it starts at virtually 0.”
Artchick.eth further contended that “It’s nearly impossible to ‘put it together’ in a sustainable way that benefits holders long term,” emphasizing that successful meme coins are often “community take overs” that grow organically, not through hyped launches.
The “Musical Chairs” Analogy
Cuban, in response, downplayed the complexity of creating a meme coin, stating, “It’s not hard to put it together.” He later conceded to artchick.eth’s point about community, saying, “We agree. It’s why Doge, Shibu Inu and only a few others have worked. It’s about the community long term.”
However, he maintained that buying meme coins is “a game of musical chairs,” adding, “I’m not saying buyers won’t get rekt. I said it was gambling. No promises. No pumps by me. Just complete transparency.”
Wen @kaaldhairya pic.twitter.com/8bxwdkMbyA
— Shytoshi Kusama™ (@ShytoshiKusama) January 21, 2025
Shiba Inu Visionary Extends an Invitation
Shytoshi Kusama, the visionary behind the Shiba Inu ecosystem, seized the opportunity to highlight the project’s technological advancements. He tweeted, “Why not align with us here at Shib. Take a 10-minute call and see that it’s not just community but real technology that keeps us going. Otherwise, you’ll release another meme like everyone else.”
Mark Cuban’s acknowledgment of Shiba Inu as a successful meme coin and his contemplation of creating his own coin have sparked a much-needed discussion about the evolving role of meme coins in the cryptocurrency landscape. While Cuban’s transparent and candid approach highlights the speculative nature of such investments, it also underscores a key point: meme coins, when driven by strong communities, can surpass their origins as jokes and become significant players in the space.
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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.
