Shiba Inu Developer Bets TREAT to Lead the Meme Coin Revolution
- Shytoshi Kusama believes meme coins are evolving into serious utility tokens, with Shiba Inus TREAT token leading the charge.
- The token recently broke out of a descending triangle pattern, and with increased institutional interest and a potential market-wide rally, SHIB could revisit its all-time high.
- Wintermute, a major crypto market maker, is significantly increasing its exposure to meme coins, including PEPE, BONK, and FLOKI.
Shytoshi Kusama, the lead developer of Shiba Inu has reinforced his optimism about the evolving nature of the cryptocurrency landscape. In particular meme coins, once dismissed as mere internet jokes, have transformed into serious contenders in the blockchain ecosystem.
Responding to a tweet by MoonCapital CEO, Kusama stated, Too slow in my opinion. But happy TREAT as both a meme and governing utility alongside the rest of the Shib Ecosystem is leading this shift in mindset for the wise.
This sentiment was echoed by other industry experts. One observer noted, What was probably considered as speculation & joke tokens are now turning the tables by evolving into a Decentralized, Community, DAO governed ecosystems building utilities with R&D and innovative use cases.
On October 28, 2020, Shiba Inu made waves after it hit an all-time high of $0.0000888. This historical peak coincided with a pre-election bull run in the cryptocurrency market. The token recently broke out of a descending triangle pattern, a bullish technical indicator often preceding a sharp price increase. With the bullish momentum and the potential for another market-wide rally, some analysts speculate that SHIB could revisit or even surpass this historical high.
Shiba Inu: Wintermute Meme coin Integration
That said, the growing utility and community-driven nature of meme coins have attracted the attention of major players in the crypto industry. Recently, Wintermute, a prominent crypto market maker, has significantly increased its exposure to meme coins.
A significant portion of their top 20 meme coin holdings, including PEPE, Neiro, BONK, WIF, FLOKI, and BABYDOGE, are now listed on Binance. Additionally, Wintermutes involvement with GOAT signals a more aggressive market-making strategy for meme coins.
With a diversified portfolio including MOODENG, GOAT, PONKE, and MEW, worth over $31 million, Wintermutes strategic investment in meme coins underscores the growing maturity and potential of this once-niche sector. As the crypto industry continues to evolve, meme coins are proving to be more than just a fleeting trend, shaping the future of decentralized finance.
Read more: https://www.tronweekly.com/shiba-inu-treat-meme-coin-revolution/
Text source: TronWeekly
