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- Shiba Inu aims to overtake Dogecoin in the memecoin market, with lead developer Shytoshi Kusama highlighting the Web3 game “Shiba Eternity” as a key factor driving SHIB’s growth in GameFi.
- Shiba Eternity recently completed its beta launch, allowing dedicated SHIB community members early access by staking LEASH tokens.
Shiba Inu (SHIB), the world’s second-largest memecoin, is now eyeing a top spot with plans to topple its arch-rival Dogecoin. Over the past years, Dogecoin has always dominated the memecoin market; however, Shiba Inu lead developer Shytoshi Kusama said that SHIB has an edge moving ahead.
In one of his recent posts on the X platform, Kusama noted that Shiba Inu’s Web3 game Shiba Eternity will be a major game-changer, turning around SHIB’s fortunes. Shytoshi Kusama’s comments came in response to the post by Jordan, the CEO of the Dogecoin wallet MyDoge, who stated that gaming on the Dogecoin network is imminent.
**Laughs in Shiba Eternity** https://t.co/LVRpCAhIrH
— Shytoshi Kusama™ (@ShytoshiKusama) August 9, 2024
The recent comments from Kusama on the Shiba Inu game showed how SHIB is ahead of Dogecoin when it comes to Game Finance (GameFi). The game, Shiba Eternity, has gained huge traction with the players earning several exciting in-game rewards. However, Shiba Inu has yet to make it clear whether these rewards will be converted into SHIB tokens in the future.
Earlier this month, the Shiba Eternity completed its beta launch, with the initial access available to the most dedicated SHIB community members, reported CNF. “To gain access, players must stake LEASH tokens through Shibaswap. This requirement not only serves as an entry gate into the game but also reinforces community bonds among the “ShibArmy elite,” noted Shiba Inu.
Shiba Inu Ecosystem Launches SHIB Torch
The Shiba Inu ecosystem announced the launch of the community-driven burn portal ShibTorch on the Shiba Inu Layer-2 network Shibarium. As a result, the Shiba Inu token holders can actively participate in reducing the SHIB circulating supply.
ShibTorch Ignites! 🔥
The Shiba Inu community now has the power to #Burn tokens on Shibarium, reducing supply and boosting the ecosystem.
Dive in 👇https://t.co/MnFjBUqwAK
— The Shib (@TheShibmagazine) August 17, 2024
ShibTorch unveils a transparent and interactive dashboard allowing users to track and initiate the burning of the Shiba Inu (SHIB) coins while removing them permanently from market circulation. Transaction fees power the ShibTorch burning process on the Shibarium network. Every transaction contributes to the burn initiative via base fees, which are locked in a designated burn contract on Shibarium. Meanwhile, priority fees are allocated to reward network validators. ShibaTorch Lead Designer Dawa focused on the community-centric approach of the project, adding:
ShibTorch stands as our ongoing commitment to our loyal community, empowering every member to actively participate in the burning process. Together, we reduce the SHIB supply, strengthen our ecosystem, and continue building the future of Shiba Inu.
Furthermore, at the 2024 Blockchain Futurist Conference, Shytoshi Kusama unveiled ShibHub, which gives users access to a variety of instruments, allowing them to manage their assets, stake tokens, and discover DeFi possibilities, per the CNF report.
On the other hand, Shiba Inu is also preparing for the launch of Liquid Staking on the Layer-2 Shibarium platform, reported CNF. Shiba Inu’s marketing lead, Lucie, has hailed liquid staking as a major milestone in the ecosystem’s growth. This advancement is facilitated by K9 Finance, the ecosystem’s Liquid Staking Derivative (LSD) platform.
