How ‘Bad Idea’ will affect Shiba Inu’s network as a result of its focus.

News Desk5
3 Min Read

Shiba Inu’s [SHIB] mission to be recognized as much more than just a meme has taken another turn. But this time, the network isn’t trying to expand on Shibarium’s functionalities or create more lands in the Metaverse.

Is AI the next move for SHIB?

Instead, Shiba Inu is trying to get involved in the budding Artificial Intelligence (AI) sector. According to Bad Idea AI, SHIB’s lead developer Shytoshi Kusama was on its Telegram channel as both projects seemed to be collaborating on a new initiative for Shiba Inu.

Bad Idea AI considers itself as a Blockchain+AI+DAO project. Hence, the name “Bad.” According to its official website, its token BAD could become the first true AI token combining the powers of AI, blockchain, and DAO.

Also, the project’s X (formerly Twitter) page revealed that it could soon hit 140,000 BAD holders, with speculation going around that many SHIB faithful are also involved.

However, this move may not be bewildering, considering how the AI sector of the cryptocurrency sector performed earlier in the year.

Although the narrative around AI tokens has gone, Shiba Inu’s involvement with the project could have some impact on its network. One metric that could be significantly influenced by Shiba Inu’s involvement in AI is the addresses with Non-Zero Balance.

The Non-Zero Balance calculates the number of unique addresses holding a positive number of tokens or coins. Over the last five months, SHIB’s non-zero addresses have increased from 1.27 million to 1.34 million, Glassnode showed.

To bring more attention?

This increase is testament to the surge in Shiba Inu’s adoption. For now, the number may not significantly increase because of Bad Idea AI’s influence. However, if 2023 Q1’s AI explosion comes back, then it could be possible to see another major hike in SHIB’s non-zero addresses. 

Another metric that could be affected by the development is Social Dominance, which measures the share of discussions about an asset compared to others in the top 20 per market cap.

Over the last three months, SHIB’s Social Dominance had reached tops of 2.68%, 2.29%, and 2.11%, respectively, at different intervals. While the metric was no longer at these heights, Santiment showed that it improved from the last three days to 0.796%.

This increase meant that SHIB was still part of the tokens with a considerable level of hype in the market. So, without BAD, SHIB could boast of the attention a lot of the tokens lacked. 

It is also possible that more public association between both tokens could improve Shiba Inu’s social dominance. But for now, it’s all speculation till we see how things unfold.

Share This Article
Leave a comment