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Lucie, Shiba Inu’s marketing lead, cautioned the community about the dangers of pump-and-dump schemes, emphasizing the need for thorough research as unsustainable projects flood the cryptocurrency market.
Lucie Urges Shiba Inu Investors to Stay Cautious
In her trademark style, Lucie—the Shiba Inu ecosystem's marketing lead—has delivered a vital message to members and investors in cryptocurrencies.
Oversaturation of the crypto industry with unsustainable projects is a rising topic that Lucie brought to light in a post on X.
Lucie Criticizes New Projects Without Solid Backing
Lucie claims that many of the new initiatives could use more authentic backers. A larger support network is still necessary to ensure sustainability, even when present. Thus, the effect becomes "pump-and-dump" when a new chain with a few hundred backers enters the market.
According to the Shiba Inu breeder in charge of advertising, the market can quickly weed out imposters. She said:
Chains Proliferate Without Increasing Real Utility
As reported by U.Today, Lucie highlighted the proliferation of chains, which refers to blockchain networks and tokens (cryptocurrencies) available for purchase. Nevertheless, neither the utility nor the acceptance by actual enterprises has increased in tandem with this development.
In order to avoid losing money due to pump-and-dump schemes, the marketing lead warned investors to do their homework before putting their money into a project. Such endeavors typically wilt out if there is a downturn in the market.
Thousands of Crypto Projects Likely to Fail by 2026
According to Lucie, thousands of projects will fight for life by 2026, thus not all cryptocurrencies will be solvent. It will only be successful if it has practical applications in the actual world.
Regardless of its poor price performance, 79% of market participants were positive on Shiba Inus and 21% were pessimistic as of this writing. According to data from CoinMarketCap, the price of Shiba was $0.00001307, representing a decrease of 3.87%.
