Shiba Inu Developer Bets TREAT To Lead The Meme Coin Revolution

Shytoshi Kusama, the lead developer of Shiba Inu has reinforced his optimism about the evolving nature of the cryptocurrency landscape.

Shiba Inu's lead developer, Shytoshi Kusama, believes TREAT will spearhead the meme coin revolution. Responding to a tweet about the slow pace of meme coin adoption, Kusama highlighted TREAT's role as both a meme and a governing utility.

According to Kusama, meme coins are now spearheading the creation of decentralized, community, and DAO-governed ecosystems with a focus on utility development, R&D, and innovative use cases.

This shift in perspective is notable considering the initial perception of meme coins as purely internet jokes or speculative tokens. However, some meme coins have defied expectations by fostering engaged communities and demonstrating a clear use case.

Shiba Inu (SHIB) had a particularly noteworthy 2020, surging by over 49,000,000%. The token hit an all-time high of $0.0000888 on October 28, 2020, during a pre-election bull run in the crypto market.

The token recently broke out of a descending triangle pattern, which is considered a bullish technical indicator and often precedes a sharp increase in price. With the bullish momentum and the possibility of another market-wide rally, some analysts believe SHIB could revisit or even surpass this all-time high.

Meanwhile, the growing utility and community-driven nature of meme coins have attracted the attention of major crypto players. One notable example is Wintermute, a crypto market maker that has significantly increased its exposure to meme coins.

A large portion of Wintermute's top 20 meme coin holdings, such as PEPE, Neiro, BONK, WIF, FLOKI, and BABYDOGE, are currently listed on Binance.

Moreover, Wintermute's involvement with the GOAT token (GRT) suggests a more aggressive market-making strategy for meme coins.

With a diversified portfolio of meme coins including MOODENG, GOAT, PONKE, and MEW, valued at over $31 million, Wintermute's strategic investment in meme coins highlights 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 passing fad, actively influencing the decentralized finance landscape.