Is Shiba Inu’s Rebrand Risky Business?

Stephen Findeisen, better known as Coffeezilla, has taken aim at a Shiba Inu commercial that debuted at a blockchain conference. The commercial portrays a shift from Shiba Inu’s meme coin roots to a more serious futuristic role.

Coffeezilla warns about the meme coins attempting to rebrand and adopt more substantial roles within the crypto ecosystem.

Coffeezilla Critiques Shiba Inu’s Rebranding Moves

The contentious Shiba Inu commercial features a narrative where a couple’s conversation about the importance of self-custody and the transition of Shib from a meme coin to a “whole society” sets the stage. Consequently, Coffeezilla, known for his critical eye on dubious crypto ventures, lambasted the commercial’s attempt to elevate the coin’s status.

“That also kills me when they try to call themselves societies. You are just a cult of a bunch of bag holders, you’re exit liquidity. You ain’t no society,” Coffeezilla said.

Read more: Who Is Coffeezilla, the YouTube Detective Exposing Crypto Scams?

The commercial further leaps into speculative fiction by introducing a digital will transmitted via the blockchain, signaling an inheritance. This concept, while innovative, was criticized by Coffeezilla for its lack of technological backing and vulnerability to scams.

His warning to steer clear of meme coins, promoting a shift away from their meme status, underscores the risks associated with investing in such volatile assets. The critique arises as Shiba Inu and similar cryptos seek legitimacy beyond the origins of their memes.

Read more: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

As a matter of fact, in December 2023, the Shiba Inu developer Shytoshi Kusama shared a vision to move beyond memes and enhance real-world utility. This pivot aligns with the launch of Shibarium, a layer-2 network aimed at enhancing Ethereum’s scalability and efficiency.