- Kusama advocates for viewing Shiboshis as a lifelong passive income source, shifting the community’s investment perspective.
- SHIB’s recent price dip contrasts with an increase in token burning, hinting at efforts to enhance value through supply reduction.
Shiba Inu’s content marketer Lucie sparked interest within the community by challenging them to identify the author behind a compelling statement on Shiboshi NFTs and their passive income potential.
The mystery was soon resolved as community members pinpointed Shytoshi Kusama, the enigmatic lead developer of the Shiba Inu ecosystem, as the voice behind the visionary idea.
"You think floor ( price) ; I think passive income for life."
Do you know the author of this quote? 🤭
Tag him!— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) March 12, 2024
Shiboshi NFTs vs. Doodles: A Comparative Outlook
This revelation stems from a comment made by Kusama nearly three years ago on the Shiba Inu Discord server, addressing the community’s concerns post the Shiboshi NFT project launch, which drew mixed reactions regarding its management and strategic direction.
The conversation around Shiboshi NFTs gained further depth when a community member expressed their dissatisfaction, comparing Shiboshi’s performance unfavorably with that of Doodles NFTs.
Despite both projects launching within days of each other, Doodles surged ahead with a floor price of 3.5 ETH and a trading volume of 28.8K ETH, dwarfing Shiboshi’s 0.8 ETH floor and 9.8K ETH volume. The comparison highlighted not just the market dynamics but also the underutilized brand power of Shiba Inu in bolstering its NFT venture.
In response to the growing concern and comparison with Doodles NFTs, Kusama emphasized the long-term value proposition of Shiboshis. He envisioned them as a source of lifelong passive income, steering the community’s perspective towards a long-term investment horizon rather than fleeting, short-term gains.
This sentiment resonated with a faction of the community who began to see not just Shiboshis but the entire Shiba Inu ecosystem as a fertile ground for passive income opportunities.
Previously, Shytoshi Kusama introduced the Sheboshi NFTs, sparking discussions on their role in the Shiba Inu ecosystem’s future and their potential for generating passive income, as previously reported by ETHNews.
Market Dynamics: SHIB’s Price Fluctuation and Token Burning
Amid these discussions, the SHIB token itself experienced notable market movements. At the time of writing, SHIB had declined by 6.24% over the last 24 hours to $0.0000322, marking a 17.76% decrease over the past week.
This downturn in SHIB’s market performance contrasts with a reported increase in token burning activities.
HOURLY SHIB UPDATE$SHIB Price: $0.00003254 (1hr -0.36% ▼ | 24hr -4.14% ▼ )
Market Cap: $19,231,433,833 (-4.77% ▼)
Total Supply: 589,276,216,432,812TOKENS BURNT
Past 24Hrs: 386,077,185 (29.22% ▲)
Past 7 Days: 14,720,388,732 (3484.18% ▲)— Shibburn (@shibburn) March 12, 2024
According to a tweet from Shibburn, there has been a significant uptick in the number of tokens burned, with 386,077,185 SHIB tokens incinerated, marking a 29.22% increase in the last 24 hours. This rise in token burning activity suggests a community-driven effort to impact the token’s value positively by reducing its overall supply.