Top Crypto Investor Acknowledges Shiba Inu Utility Beyond Meme Status

Mario Nawfal, a crypto investor who hosts the largest show on X, has disclosed his changed perception regarding Shiba Inu.

In a recent post on X, Nawfal revealed his long-held reservations for meme-inspired cryptocurrencies like Shiba Inu. Per the disclosure, he has opposed such aspects of cryptocurrencies for years. 

However, recent developments surrounding Shiba Inu have prompted Nawfal to reassess his stance on meme-inspired cryptocurrencies, leading to a change of heart.

???? @ShytoshiKusama speaks for the second time EVER!

I’ve always been against meme coins for years, but my perception is changing as more projects create utility on what begins as a meme community.

Disclaimer: We invested & partnered with @K9finance https://t.co/AYX3zWYbgW

— Mario Nawfal (@MarioNawfal) March 9, 2024

Changed Perception about Shiba Inu

Nawfal’s declaration comes amid the celebratory launch of K9 Finance DAO’s platform token, KNINE. K9 Finance is an official Shiba Inu pattern, specifically a validator for the SHIB ecosystem blockchain, Shibarium. 

As The Crypto Basic reported recently, the team launched KNINE on March 7 after many waits and teasers. K9 Finance orchestrated an X space following the KNINE token launch to celebrate the move. The forum attracted over 91.3k attendees from the Shiba Inu and broader crypto communities. 

One of the elements that stood out about the X space was the rare occurrence of Shiba Inu leader developer Shytoshi Kusama speaking at the event, which intrigued Mario Nawfal. Taking to X, Nawfal remarked:

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“Shytoshi Kusama speaks for the second time ever. I’ve always been against meme coins for years, but my perception is changing as more projects create utility on what begins as a meme community.” 

Shiba Inu Growing Utility 

Nawfal admired the significant efforts made within the Shiba Inu ecosystem to enhance the token’s utility and depart from its initial status as a mere joke. 

For instance, apart from K9 Finance, Shiba Inu has forged a strategic partnership with Zama, a prominent tech platform at the forefront of the encryption and data privacy market. 

Additionally, SHIB has collaborated with D3 Global to establish a unique identity for Shiba Inu enthusiasts by introducing a “.shib” domain name extension. Significantly, the initial development phase is already live, with the portal for reserving SHIB Names open to all. Shiba Inu has its metaverse, Blockchain (Shibarium), NFTs, P2E Game, and more.

Overall, Shiba Inu has transitioned from being a meme coin to becoming a crypto project with multiple utility offerings for the blockchain space.