Mysterious Shiba Inu lead developer Shytoshi Kusama has shared that he plans to give the second-largest meme coin utility and take it to the top five list of cryptocurrencies.
Shytoshi Kusama’s Goal
Shytoshi Kusama took to X to share a picture of an AI-generated image. The image in question shows a painting on an office wall that shows a striking scene suggestive of something religious or apocalyptic, with a man sitting at his desk surrounded by similar chaos.
Kusama commented on the image stating, “Trying to give utility to a meme coin and take it from top 15 to top 5. In less than 5 years… without a huge budget.”
In a follow-up post, Shytoshi clarified that he was indeed referring to SHIB, the meme coin based on the same internet meme as Dogecoin (DOGE). If he is successful with his ambitious goal, then SHIB may potentially secure a spot among the top five cryptocurrencies in 2025.
Launched in August 2020 by a pseudonymous person called Ryoshi as an ERC-20 token running on top of the Ethereum blockchain, Shiba Inu was initially designed as a meme coin, meaning it was intended to be a fun and lighthearted cryptocurrency that shouldn’t be taken seriously. However, the coin quickly garnered popularity, with its price surging to a lifetime high of $0.000086 in October 2021.
As of today, Shiba Inu is the industry’s 15th largest cryptocurrency, with a market capitalization of over $15.4 billion, changing hands at $0.00002619, according to CoinGecko.
Shiba Inu Looks To *****’s Incoming Presidency
Shytoshi Kusama recently proposed establishing a Strategic Hub for Innovation and Blockchain (S.H.I.B.) in a U.S. city, seeking to transform it into a global center for blockchain technology and sustainable development. The proposed SHIB hub could spur the development of new applications and expand use cases for SHIB, enhancing its value proposition among speculators.
Kusama’s S.H.I.B. proposal comes as tech billionaire Elon Musk prepares to take up a role in Donald *****’s new agency, the Department of Government Efficiency, or D.O.G.E.
*****’s incoming administration is generally anticipated to be favorable to blockchain growth initiatives, deregulation, and technological hubs like S.H.I.B.