Shiba Inu (SHIB) Blockchain, Shibarioum, Is Not as Successful as Its Token

Shiba Inu (SHIB) was introduced four years ago as a community-driven cryptocurrency experiment. Inspired by the popularity of Dogecoin

Shiba Inu (SHIB) is a community-driven cryptocurrency that was created four years ago. It was inspired by the popularity of Dogecoin and aimed to further the concept of a decentralised token.

However, despite the token's success, analysts say that the Shiba Inu blockchain, Shibarioum, has not been as successful. It hit a one-year low in August, indicating that investors may not find it as attractive as it once was.

To meet expectations, Shiba Inu would need to have a market cap of over $580 trillion, which would dwarf the entire global economy. Despite this, the crypto community remains intrigued, partly due to Shiba Inu's history of defying expectations.

Shiba Inu also aims to advance decentralisation by launching a Decentralised Autonomous Organisation (DAO). This transition will empower every holder, regardless of the size of their stake, to have a say in the community direction, according to Lucie.

She also noted that the DAO is yet to be implemented, and its introduction will give ‘Shibizens’ more control over the ecosystem's future decisions. The developers, who maintain anonymity, announced that they will be stepping back at the end of 2024 and delegating control to the community to enable decentralised governance.

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