Shiba Inu turns into privacy coin like Monero or ZCash?

[Luffygroove]

Hmm, may you share the source link, please? Well, if it's true, it's an interesting development for Shiba Inu. I think it's technically possible to add privacy features to a coin, but it's going to take a hell of an effort because there will be significant changes to its underlying technology and protocols. I think good utility is always a good idea, but price doesn't only depend on that alone. There are market demand, adoption, utility, overall market conditions, and investor sentiment to be considered. Besides, just like the forerunner, privacy coins get challenges from the government to exist, and of course, it's not a small challenge if Shiba Inu want to change. However, let's just see how it goes. Whatever it is, it's refreshing to see how a merely meme coin wants to change and add utility to their project.

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[s.tanishka]

Still waiting for an update regarding zero protocol to be implemented into shiba inu. I think that this will never be real. Shiba inu is still dependent on the ethereum blockchain and shibarium is not as good as people said.

I see no point why shiba needs to releasea zero protocol to turns to be privacy coin. Shiba just need to issue a new assets in the zero protocol blockchain.

The blockchain like zksync is good enough for that.

It's all nothing but hype. Shiba Inu developers just want to attract as many fools as possible to suck the money out of their pockets for their own benefit. The cryptocurrency is just a "meme" coin with a large circulating supply. It was never meant to be taken seriously. We could say it's a "Dogecoin clone" without a Blockchain network of its own.

If you really want privacy, use Monero or Zcash for your utmost sensitive transactions. I really hope people realize that it's not about the money  but rather the usefulness of any given cryptocurrency. The industry is still in its "early days", so we should expect "meme" coins like SHIBA and PEPE to keep pumping for a while. The effects will be shortlived, especially when such coins have no substance behind them. Only BTC, ETH and a few other similar coins will survive because of the real use cases they provide to the world. Who knows how long will Shiba Inu last? Just my thoughts

The irony is that no matter how long it lasts in plain sight, I'm sure it will give even more profit to its holders than bitcoin or ether. These are all stories of manipulation and it's not hard to trace whose wallets have a large concentration of Shiba tokens

[Godday]

Shiba is a meme coin that basically doesn't have a Roadmap on their project. And in 2021 their price has ballooned so much that I think it's quite difficult to get back to their ATH because indeed the price at the time of ATH was very high for SHIBA. Maybe what makes sense is that they start developing new projects that will support SHIBA so that meme coins can become coins that have more selling value in the eyes of cryptocurrency enthusiasts.

[Sethrey]

It's all nothing but hype. Shiba Inu developers just want to attract as many fools as possible to suck the money out of their pockets for their own benefit. The cryptocurrency is just a "meme" coin with a large circulating supply. It was never meant to be taken seriously. We could say it's a "Dogecoin clone" without a Blockchain network of its own.

While Shiba Inu may have a large circulating supply and lack its own dedicated blockchain network, it's essential to recognize that cryptocurrencies can serve different purposes. Some coins aim to provide innovative technologies or solve specific problems, while others may focus on community engagement and meme-inspired branding.

[Abiky]

While Shiba Inu may have a large circulating supply and lack its own dedicated blockchain network, it's essential to recognize that cryptocurrencies can serve different purposes. Some coins aim to provide innovative technologies or solve specific problems, while others may focus on community engagement and meme-inspired branding.

That is true. But there are so many cryptocurrencies out there which serve nearly the exact same purpose as SHIBA INU. If one "meme" coin wasn't enough, imagine hundreds or thousands of them. I'm not saying that SHIBA won't have a future, but rather that the coin is more of the same. If SHIBA developers keep innovating, then I don't see why it shouldn't go to the moon in the first place.

For what I know, the new privacy feature is just a rumor. There hasn't been any intentions from developers to make this a reality soon. It's best to leave everything as is for the good of the project. Adding privacy features for SHIBA would force CEXs to de-list the cryptocurrency. It will await the same fate as Monero and Zcash. No one can predict the future, so let's hope for the best. Just my opinion

[s.tanishka]

Delisting risk is another reason why this is just a news story. They will not risk their presence on many exchanges just to become a private token.

[Dollar_Hunter]

Hmm, may you share the source link, please? Well, if it's true, it's an interesting development for Shiba Inu. I think it's technically possible to add privacy features to a coin, but it's going to take a hell of an effort because there will be significant changes to its underlying technology and protocols. I think good utility is always a good idea, but price doesn't only depend on that alone. There are market demand, adoption, utility, overall market conditions, and investor sentiment to be considered. Besides, just like the forerunner, privacy coins get challenges from the government to exist, and of course, it's not a small challenge if Shiba Inu want to change. However, let's just see how it goes. Whatever it is, it's refreshing to see how a merely meme coin wants to change and add utility to their project.

unfortunately the OP didn't provide the source is it just an opinion?
I myself don't believe it because in my opinion Shiba is already in the metaverse category,
I saw their update on Twitter that they built a product with the name Shibaverse and of course that's very interesting.

[capedbaldy]

Delisting risk is another reason why this is just a news story. They will not risk their presence on many exchanges just to become a private token.

There is no delisting news and maybe it is invalid news because there are no sources reporting shiba delisting information, based on market capitalism and trading volume there is still a chance to stay on top exchanges, so delisting news will definitely have a bad effect on shiba coins and traders must wisely analyze the information before believe the news.

[Sethrey]

There is no delisting news and maybe it is invalid news because there are no sources reporting shiba delisting information, based on market capitalism and trading volume there is still a chance to stay on top exchanges, so delisting news will definitely have a bad effect on shiba coins and traders must wisely analyze the information before believe the news.

Really?? What about this news? https://cointelegraph.com/news/binance-to-delist-privacy-tokens-in-france-italy-spain-and-poland If even Monero is delisted, smaller alternatives will go the same way very soon.

[Abiky]

Delisting risk is another reason why this is just a news story. They will not risk their presence on many exchanges just to become a private token.

Exactly. Especially now when Binance started to de-list privacy coins in certain European countries. The vast majority of the world's governments are against privacy coins, so they will keep pressuring centralized exchanges to de-list anything private along the way. You think Shiba Inu developers want this in the long run? Of course not! This may be only a tactic to lure foolish investors into the cryptocurrency.

SHIBA is merely an ERC-20 token, so I fail to see how developers are going to make it private unless they're aiming for a separate solution like a mixer. It really doesn't matter since Shiba Inu is a "meme" coin. The coin will always be worthless in the eyes of serious traders and investors alike. All of the attention is on PEPE nowadays, making Shiba Inu a relic of the past. Just my thoughts

[s.tanishka]

Yes, you are right in fact meme tokens change very quickly and their popularity can quickly extinguish. That's why they are now looking for a newsworthy reason not to forget about them and they have at least some reason to grow in the next bull market.

[Sethrey]

And when this bull market will happen you think?  As I'm already tired waiting for the Bitcoin to rise well.

[s.tanishka]

And when this bull market will happen you think?  As I'm already tired waiting for the Bitcoin to rise well.

I, too, am very tired and very much looking forward to when we open the new bull run. Unfortunately I do not have the gift of foresight and can not say exactly, but I assume that the next 2 months we will still be waiting for the accumulation, and only in the fall we will start to show some growth

[Sethrey]

I have one news in order to stay away from price predictions for at least one post. Utopia P2P just launched a huge airdrop for all its users. All you need to do is to be online in their messenger and there are 11,111 daily winners! Here's the info: https://twitter.com/UtopiaP2P/status/1669624485387939843

[s.tanishka]

I have one news in order to stay away from price predictions for at least one post. Utopia P2P just launched a huge airdrop for all its users. All you need to do is to be online in their messenger and there are 11,111 daily winners! Here's the info: https://twitter.com/UtopiaP2P/status/1669624485387939843

Well, while we are waiting for the bull market, we can start collecting airdrops. In fact even this activity can lead you to success if you wait for a bull market.

[Sethrey]

It's not the worst decision how to spend this time. Especially while there are such an airdrops that don't require any activity, you just have to run a software and stay online. Great!

[Rimueng]

Even if indeed the Shiba Inu will undergo an update to become a privacy coin through support from the Bermuda dApp and the rollout of the Layer-2 Shibarium protocol. Although it is possible to convert ordinary coins into privacy coins, the impact of this change depends on the technical factors and features introduced by the coin project. Changing to a privacy coin does not guarantee a significant increase in price, as the value of the coin is affected by various factors such as market demand, adoption and investor sentiment.

[nyashenka]

Even if indeed the Shiba Inu will undergo an update to become a privacy coin through support from the Bermuda dApp and the rollout of the Layer-2 Shibarium protocol. Although it is possible to convert ordinary coins into privacy coins, the impact of this change depends on the technical factors and features introduced by the coin project. Changing to a privacy coin does not guarantee a significant increase in price, as the value of the coin is affected by various factors such as market demand, adoption and investor sentiment.

Many privacy coins like Monero and ZCash have problems with regulators and delisting on the exchanges. It is hard to develop a coin which is privacy.

[nyashenka]

Even if indeed the Shiba Inu will undergo an update to become a privacy coin through support from the Bermuda dApp and the rollout of the Layer-2 Shibarium protocol. Although it is possible to convert ordinary coins into privacy coins, the impact of this change depends on the technical factors and features introduced by the coin project. Changing to a privacy coin does not guarantee a significant increase in price, as the value of the coin is affected by various factors such as market demand, adoption and investor sentiment.

Many privacy coins like Monero and ZCash have problems with regulators and delisting on the exchanges. It is hard to develop a coin which is privacy.

True, privacy coins like Monero and ZCash often face challenges with regulators and are delisted on exchanges. This is due to concerns about the use of privacy coins for illegal activities such as money laundering and drug trafficking. Regulators and exchanges often seek to increase transparency and compliance with financial regulations. As a result, the development and acceptance of privacy coins has become difficult due to stricter regulations and resistance from some exchanges. This poses a challenge for developers to face the challenges of regulators and strike a balance between privacy and compliance with the law.

Privacy is very good for simple people but it is risky to regulators. Regulators can not contrall privacy coins and transactions in privacy coins and they want to bun privacy coins.

[s.tanishka]

Even if indeed the Shiba Inu will undergo an update to become a privacy coin through support from the Bermuda dApp and the rollout of the Layer-2 Shibarium protocol. Although it is possible to convert ordinary coins into privacy coins, the impact of this change depends on the technical factors and features introduced by the coin project. Changing to a privacy coin does not guarantee a significant increase in price, as the value of the coin is affected by various factors such as market demand, adoption and investor sentiment.

Many privacy coins like Monero and ZCash have problems with regulators and delisting on the exchanges. It is hard to develop a coin which is privacy.

In fact if they had serious problems with regulators, they would not be traded on centralized exchanges. It would only be possible to buy confidential coins on a decentralized exchange. We heard many times already that all anonymous coins will be banned soon. But as we see they are still available for use.