The meme-token economies have grown significantly so far in 2023, with over 34.52% against the US dollar in February 2023. With the surge in popularity of meme coins in recent times, Dogecooin and Shiba Inu have led the pack so far in 2023, rising over 29.5% and 71.9% respectively.
Whether you’re a fan of meme-coins or not, it is clear that they are making a massive impact on the world of cryptocurrency. However, with a lot that make millions, there’s a lot more who do not, with lots of investments into meme coins only to see them flop, or even-worse, rug pulled.
To begin with, what started as a comical adventure for dogecoin (DOGE) back in 2013 saw itself turn into a financial rollercoaster with millions of ups and downs, mostly based on Elon Musk’s mood on Twitter.
While the recent reports do suggest recovery and surge in the meme-coin cultures or what we like to call the “occasional dopamine-including explosion”, majority holders suffered major losses into their assets including meme coin investments under the 2022 bear market.
All of which begs one question: as we see 2023 surge the meme-coin culture, do meme coins need to change or do we just expect too much? The team at Shiba saga ($SHIA) and Shiba Inu are building answers to tackle that question.
Shiba Inu – More than a Meme Coin?
Shiba Inu has certainly grown a lot since early days of its efforts to bounce off Dogecoins’s success, with Shiba Inu diversifying its ecosystem with several features. Post the Elon Musk hype, Shiba Inu also now focuses on supporting NFT artists in several ways, as well as sourcing towards efforts for its Shiba Inu rescue foundation.
$hibaSaga, Bringing Back Childhood Games with a Sustainable Play-&-earn Model
Part of an already large Shiba Inu community, Shiba Saga ($SHIA) aims to be the first meme coin with utility to offer a collection of retro-games that follow the same token, $SHIA. The team at Shiba Saga aims to rebrand classic games such as Angry Birds, Subway Surfers and Temple Run, but rebrand them the Shiba way. A full list of Shiba-Saga games can be found in its whitepaper, which you can read here.
Another first for Shiba Saga will be a complete on-chain system for upgrading and sharing characters and other collectibles (NFTs) across all of Shiba saga games.
The team at Shiba Saga consists of veterans from both the gaming and blockchain industry with a clear vision to create an accessible and profitable play and earn (GameFi 2.0) ecosystem within the Shiba Saga universe. The team at Shibasaga also commented that they plan to expand Shibasaga into its own metaverse, NFTs and more post production of Shiba Saga rebranded games, all of which, aiming to grow the community even further and build a truly utility driven metaverse i.e. Shiaverse.
Some of the other unique features for Shiba saga also include buyback and burn, where 85% of the burns go towards Shiba Sag ($SHIA) and 15% go towards burning Shiba Inu ($SHIB), to support the Shiba Inu ecosystem. Income generated from Shiba Saga’s non-crypto users through ads and in-app purchases will also be used to buy back and burn $SHIA and $SHIB, helping maintain a healthy floor price all year around.
Although meme-coins have gained significant following in recent years, investors have viewed them as insignificant and risky investments, given the lack of real world applications and speculation based value. While it’s clear to see that meme coins are here to stay, and remain a significant part of the cryptocurrency culture, one of the defining factors behind its long term success or sustainability will be the ability for coins such as Shiba Saga, Shiba Inu or more to be able to generate utility towards its communities.
Part-meme, part-utility seems to be the value phase right now within the cryptocurrency meme token culture, as tokens such as Shiba Saga and Shiba Inu are showing a general seismic shift within the direction of meme currencies.
While we wait and see how projects such as Shiba saga aim to reshape the hype and speculation image associated with meme-coins by providing utility and real value to it, one thing for sure is that a lot of these meme-coins and cryptocurrencies seem to be reshaping the future of finance.
As the cryptocurrency market evolves, meme-coins and other utility based innovative assets will continue to play a significant role. The growing trends within cryptocurrency such as with Shiba saga however open new opportunities for investors to participate in the meme culture, and play part in shaping its future.
Disclaimer: The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
