2023-2-9 21:45 |
Alex McCurry, the CEO of Solidity.io — a blockchain-based platform for smart contract audit and token development — has taken a potshot at Dogecoin, Shiba Inu, and other meme-inspired cryptocurrencies.
According to McCurry, these canine-themed cryptos are all “garbage”. His comment was in response to a tweet that observed that Dogecoin (DOGE), Shiba Inu (SHIB), Baby Doge, Floki Inu, and others had outperformed crypto market leaders bitcoin (BTC) and ether (ETH).
These so-called dog cryptos have captured the hearts and minds of crypto enthusiasts in recent years owing to their meteoric rise that turned many retail speculators into overnight millionaires.
Nonetheless, there are lingering concerns about whether these joke tokens will have any lasting value despite ones like Dogecoin already proving skilful at pushing powerful narratives that have grabbed the attention of American rapper Snoop Dogg, Kiss co-lead singer Gene Simmons, and even Tesla/Twitter CEO Elon Musk.
This is not the first time a knowledgeable crypto insider is slamming doggy-themed cryptocurrencies. Last month, Steven Cooper, Bigger Entertainment’s CEO, accused SHIB of being a pyramid scheme. He argued that the lack of burnt tokens or any real achievements shows that the blockchain project is just used as a cheap token to lure people to invest their money into dubious spinoffs such as BONE, a governance token and the main token emitted as yield rewards within the Shiba Inu ecosystem.
Cooper, who had worked tirelessly to burn Shiba Inu coins via his music playlists and merch between 2021 and 2022, deleted every single mention of SHIB on his social media platforms. Cooper also had a falling out with SHIB developers and has no desire to be involved again with the “Dogecoin Killer”.
Notably, the team behind SHIB has been trying to help the token shed its meme coin status and develop into a fully-fledged crypto ecosystem. Developers are building Shiba Inu’s layer-2 network, dubbed Shibarium, to operate atop Ethereum. If everything goes as planned, the launch could contribute to strong fundamentals for the second most popular dog-themed cryptocurrency after Dogecoin.
With a market cap of over $8.2 billion, Shiba Inu is currently the world’s 13th biggest cryptocurrency.
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