Shiba Inu’s Shytoshi Calls Coinbase ‘Copycat’: Here’s Why

Sahana Kiran
Shiba Inu
Source – Unsplash

Coinbase has planned a campaign named ‘Onchain Summer’ in celebration of the upcoming mainnet launch of Base. The initiative, which is scheduled to begin on Aug. 9, was publicly announced on Twitter by Coinbase’s CEO, Brian Armstrong. This announcement sparked different reactions from the Shiba Inu community, with Shytoshi Kusama being among those who responded. The lead Shiba Inu developer insinuated that Coinbase may have copied the idea from the Shiba Inu community,

Just last month, the lead developer of SHIB introduced the “Summer of Shibarium” campaign. Through this, the network aims to signal the approach to the mainnet launch of the layer 2 protocol, Shibarium.

Additionally, as part of the campaign, Shiba Inu will also take part in the upcoming Blockchain Futurist Conference in Canada on Aug. 15 and 16. The network is among the prominent sponsors of the conference. This will feature an outdoor cabana party where crypto enthusiasts and experts can interact in a relaxed setting, build connections, network, and enjoy themselves.

Coinbase’s announcement indicated that the event would span multiple weeks and include a lively celebration featuring “art, music, and gaming” festivities. It is worth noting that while both campaigns share similarities in terms of their name and concept. However, their respective activities are quite distinct from each other.

Also Read: Shibarium Will Restore, Enhance Faith in DeFi Systems: Shytoshi Kusama

Shiba Inu records a major upswing

During the unfolding drama, the meme coin witnessed a significant surge. At press time, SHIB was trading at $0.000008611, experiencing a 5.10% increase in value within a day. The asset even made notable progress in the crypto rankings, with its market cap reaching $5.08 billion.

Also Read: Shiba Inu: Number of Addresses Surge Prior to Shibarium Launch