Shiba Inu’s ecosystem team has highlighted Kendu Inu (KENDU), an altcoin that could transform the SHIB universe. This was revealed in the 27th edition of their weekly magazine, published on June 5.
The magazine explains that Kendu Inu is a memecoin inspired by the Japanese dog breed Kai Ken. The team behind this token aims to break away from traditional norms by focusing on identity and community rather than standard tokenomics.
Kendu Inu’s Unique Approach to the SHIB Ecosystem
Although Kendu Inu embodies the relentless spirit of Shiba Inu, it does not follow the pattern of other tokens within the ecosystem, which aim to burn SHIB and BONE. Instead, the Kendu team, led by its pseudonymous founder, Kendu Miazaki, is focused on building a strong brand and a cult-like following united by a shared vision before taking on other responsibilities.
“We are first and foremost a meme coin, focusing on the brand first,” Miazaki remarked. “You can have the best product in the world, but if nobody knows about it, then nobody knows about it, and nobody will use it.”
Kendu Inu: Growing Influence and Market Position
As of the magazine’s publication, Kendu Inu had garnered a following of 6,000 users, a number that surged to over 10,043 in the hours leading up to press time.
Kendu Inu employs a brand-first strategy to distinguish itself in the competitive memecoin space. It aims to significantly contribute to the growth of the Shibarium ecosystem by attracting new users and fostering innovative ideas, with aspirations of achieving a billion-dollar market cap.
Currently, KENDU boasts a market cap of $203.61 million, ranking as the 2,743rd largest cryptocurrency on CoinMarketCap. The token is priced at $0.0002048, reflecting a 9.38% decline over the past 24 hours. At this price, KENDU is down 24.17% from its all-time high of $0.0002694, recorded on June 13, 2024.
Despite its recent launch, KENDU has already secured listings on major crypto exchanges such as LBank, BitMart, and Poloniex. According to CoinMarketCap, the token’s 24-hour trading volume decreased by 20.24% to $4.85 million.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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