Mark Cuban Elevates Shiba Inu to Rare Status: a Meme Coin That Has Actually “Worked”

In a surprising tweet, billionaire Mark Cuban elevates Shiba Inu to a rare status: a meme coin that, according to him, has actually “worked.”

Billionaire Mark Cuban has joined the meme coin conversation with a surprising tweet that elevates Shiba Inu to a rare status among the slew of meme coins. In a discussion about launching his own meme coin, Cuban's classification lends a new level of legitimacy to the project that began as a meme coin but has since evolved into a tech powerhouse.

Cuban's X post, proposing a meme coin with a 20% float and a transparent revenue stream to the U.S. Treasury, comes as a response to the current meme coin craze. “If you want to gamble, gamble. But at least use it to make a dent in the US Debt,” Cuban stated.

This proposal was quickly followed by Cuban's acknowledgment that "Doge, Shibu Inu and only a few others have worked," placing Shiba Inu in a select category of successful meme coins.

Skepticism and the Community Debate

Crypto philosopher artchick.eth wasted no time in challenging Cuban's idea, warning, “Your followers will get rekt.” The user went on to explain that Cuban's launch would be hindered by information asymmetry and that “there is no ‘Sale’ the coin price is determined by supply in lps it starts at virtually 0.”

Emphasizing that successful meme coins are often "community take overs" that grow organically, not through hyped launches, artchick.eth further contended that “It’s nearly impossible to ‘put it together’ in a sustainable way that benefits holders long term.”

Cuban, in response, downplayed the complexity of creating a meme coin, stating, “It’s not hard to put it together.” Later conceding to artchick.eth's point about community, he said, “We agree. It’s why Doge, Shibu Inu and only a few others have worked. It’s about the community long term.”

However, Cuban maintained that buying meme coins is “a game of musical chairs,” adding, “I’m not saying buyers won’t get rekt. I said it was gambling. No promises. No pumps by me. Just complete transparency.”

Shiba Inu Visionary Extends an Invitation

Shytoshi Kusama, the visionary behind the Shiba Inu ecosystem, used this moment to highlight the project's technological advancements. "Why not align with us here at Shib. Take a 10-minute call and see that it’s not just community but real technology that keeps us going. Otherwise, you’ll release another meme like everyone else,” Kusama tweeted.

Mark Cuban's acknowledgment of Shiba Inu as a successful meme coin and his contemplation of creating his own coin have sparked a much-needed discussion about the evolving role of meme coins in the cryptocurrency landscape. While Cuban's transparent and candid approach highlights the speculative nature of such investments, it also underscores a key point: meme coins, when driven by strong communities, can surpass their origins as jokes and become significant players in the space.