Is Shiba Inu rebranding a risky business?

Stephen Findison, better known as Coffizilla, took aim at the Shiba Inu announcement at the Blockchain Conference. It marks the business' transition from its Shiba Inu meme coin roots to a more serious future role.

Coffeezilla warns about meme coins trying to change more significant roles in the crypto ecosystem.

Coffeezilla blames Shiba Inu's rebranding moves

The controversial Shiba Inu ad features the couple's speech about the importance of self-improvement and Shiba's transition from meme coin to “the whole community” setting the stage for the narrative. As a result, Cofizilla, known for his critical eye on dubious crypto ventures, derailed the venture's attempt to raise the coin's status.

“And it kills me when they try to call themselves communities. You're just a cult of bagpipes, you're liquidation. You're not a community at all,” Coffizilla said.

Read more: Who is Cofizilla, the YouTube detective who exposes crypto scams?

The business is leaping into speculative fiction and signaling a legacy by introducing digital wills on the blockchain. Although this concept is new, it has been criticized by Cofizilla for its lack of technological support and its vulnerability to fraud.

His warning to stay away from funny coins, by promoting them to stay away from their ridiculous status, highlights the risks of investing in such volatile assets. The criticism arises when the Shiba Inu and similar cryptos seek legitimacy beyond the origins of their memories.

Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

In fact, in December 2023, Shiba Inu developer Shitoshi Kusama shared a vision to move beyond comics and develop real-world utility. This milestone coincides with the launch of Shibarium, a Layer-2 network that aims to increase Ethereum's scalability and efficiency.