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Shytoshi Kusamathe main anonymous spokesperson for the Shiba Inu (SHIB)
Referencing data from the widely followed “World of Statistics” account, Kusama highlighted SHIB’s 150% year-to-date gain, placing it just behind Dogecoin’s 310% gain among cryptocurrency-inspired cryptocurrencies. memes. Other top performers listed include Solana with a 134% return, Bitcoin at 113% and Binance Coin (BNB) at 98%.
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This is indeed true, according to data from CoinMarketCap, as SHIB has a market capitalization of $14.9 billion and its closest competitors are Chainlink (LINK) and Pepe Coin (PEPE). The latter may dispute Kusama’s statement, however, but in the area of trading volume, as it generally beats SHIB by that metric.
“When SHIB burns? »
In addition, Kusama touched on the widely discussed topic in the SHIB community of burning the majority of cast tokens. Influencer Shiba Inu spoke about the challenges of implementing large-scale burns, mentioning the increased cost of SHIB purchases during peak burns and the challenge of achieving near-total supply reduction . Kusama said focusing solely on burns is not the best way to succeed with SHIB.
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Instead, he suggested creating new utilities to SHIB and related tokens, an approach that involves exploring staking opportunities and use cases to drive sustainable adoption. Kusama’s strategy aims to position SHIB as more than a coin, leveraging viral distribution and its utility to reduce reliance on combustion as a growth mechanism.
By integrating these measures, Kusama believes SHIB can gain a long-term competitive advantage in the cryptocurrency market.