The Shiba Inu ecosystem team has highlighted its impact on the crypto market as it announces a new alliance with DegenSafe.Fun to combat rug pulls.
In a recent tweet, the Shiba Inu team emphasized that SHIB not only went viral in the crypto space but also fundamentally changed the game. The project is positioning itself as one that has rewritten the playbook on how a crypto initiative can launch and grow through collective community action.
How Shiba Inu Changed the Game
Shiba Inu, which initially launched as a meme in August 2020, experienced a remarkable rally that took the broader crypto market by storm.
Unlike most crypto projects that rose with the help of deep-pocketed backers and detailed tech roadmaps, SHIB’s growth was driven primarily by its community. Through coordinated social media efforts, the community encouraged new investors to acquire SHIB, fueling its exponential rise.
Shiba Inu has since redefined the potential of meme coins by transforming what started as a “meme token” into a robust crypto project with multiple ecosystem layers. These include non-fungible tokens (NFTs), a decentralized exchange, a Layer-2 blockchain, as well as several games and tokens.
Additionally, the team works to protect its community from scams by using its official X accounts to alert users to malicious projects.
New Alliance to Prevent Rug Pulls
Interestingly, Shiba Inu confirmed that DegenSafe is turning the SHIB movement into a launchpad. For context, DegenSafe.Fun is a community-focused launchpad that aims to protect retail traders from rug pulls and scams.
The platform positions itself as a rival to the established meme coin launchpad Pump.Fun. According to DegenSafe, it is addressing several issues that Pump.Fun introduced into the meme coin space.
Pump.Fun, which allows users to create and trade meme coins through its launchpad, has faced intense scrutiny. Scammers have exploited the platform to launch malicious tokens and defraud unsuspecting users.
Amid this scrutiny, DegenSafe claims it is developing a solution that would potentially prevent scams from occurring in the first place. It plans to address this by implementing a TrustScore that evaluates new tokens based on wallet behavior, verifying each project’s social media profiles, and deploying advanced anti-bot and anti-sniping tools.
The DegenSafe.Fun project is powered by its native token, LC, which will be used to pay launch fees. The token is currently available for trading on Bitmart’s exchange and Solana-based DEX Raydium.
Meanwhile, the Shiba Inu ecosystem team has teased upcoming rewards for its community. DegenSafe also confirmed that SHIB holders will receive perks. However, details on how the community will be rewarded remain under wraps.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
