Shiba Inu’s marketing lead, Lucie, has provided optimism for community members amid the SHIB price crash. She mainly alluded to the layer-2 network Shibarium, highlighting how it has maintained its strength over time.
Shiba Inu Exec Breaks Silence Amid SHIB Price Crash
In an X post, the Shiba Inu marketing lead stated that Shibarium stands apart in the blockchain world as it has no VC funding, no massive exchange alliances, and no corporate safety net. Lucie further remarked that the layer-2 network is being built the hard way, by the community and for the community, which she claims makes the journey more “authentic” despite being demanding.
Lucie also mentioned that the obstacles are real, as this is the longest bear market many have ever endured, with the SHIB price underperforming in this market cycle. She noted that as a result, some have lost patience and faith, and have even gone so far as to leave the Shiba Inu ecosystem in pursuit of other opportunities.
However, the Shiba Inu marketing lead suggested that she is unfazed by everything that has happened so far, including the SHIB price’s underperformance. Lucie remarked that Shibarium was never meant to be a free buffet for takers and that the mission has always been about gathering those who build together. She explained that these should be builders who expand the table, attract newcomers, and create reasons for investors and partners to support the ecosystem long-term.
In line with this, Lucie stated that the solution is not complicated, as Shibarium’s future lies in welcoming new projects, supporting builders, and giving them space to grow. The Shiba Inu marketing lead also alluded to the meme coin’s decentralized nature, noting that there is no obligation and no single authority deciding what must be done. She added that it is a system where value flows naturally to what the community believes in most.
The SHIB Price’s Underperformance and Decline In Notable Metrics
Lucie’s statement comes amid the massive decline in the SHIB price since the start of the year. Shiba Inu is down 44% year-to-date (YTD) despite the notable gains in the broader crypto market. As a result, the meme coin has continued to drop in the crypto rankings by market cap and is now the 23rd largest crypto by market cap, having climbed into the top 10 last year.
Meanwhile, Shibarium’s metrics, including daily transactions, paint a bearish picture for the Shiba Inu ecosystem at the moment. The daily transactions have dropped from an average of 4 million, recorded in early August, to just 8,750, recorded on August 31. These developments come at a time when the Shiba Inu ecosystem is seeking to transition to new leadership, with lead developer Shytoshi Kusama calling for elections.
Lucie urged anyone interested in taking the lead to go ahead and bring new ideas, new liquidity, and new volume to the Shiba Inu ecosystem. She noted that the goal is to focus on finding solutions to the mistakes made and leading the ecosystem toward a stronger future for Shibarium.
At the time of writing, the Shiba Inu price is trading at around $0.00001195, down over 3%, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
