- Shiba Inu’s price rebounded 7% in the last two weeks.
- Upsurge in newly registered wallets reached 4K a day.
- Designer Sveinn Valdimarsson opposes SHIB logo use.
New Shiba Inu wallet addresses on Ethereum (ETH) surpassed 4,000 daily on June 27th, marking the highest point of Q2. The recently published quarterly report by blockchain analytics enterprise IntoTheBlock points to a bullish trend in this on-chain metric since May 22nd, 2023.
At press time, Shiba Inu (SHIB) trades at $0.00000769, according to CoinGecko. Trading in linear consolidation for the past 24 hours, $SHIB fetched slight 1.2% gains in weekly terms. The popular memecoin was priced at $0.00000858 when the trend started.
Original Logo Designer Barks at SHIB Token
In other related news, Sveinn Valdimarsson, the Icelandic designer who created the original Shiba Inu logo used in all of the products of the SHIB Ecosystem, is contemplating legal action against SHIB Token.
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In a recent interview for another newspaper, Mr. Valdimarsson, also a member of the vast Shiba Inu community, said he had no intention of letting the orange cartoon dog be used for business purposes.
The Scandinavian designer explained that the newest collaboration with Tangem hardware wallet manufacturer makes $77 per unit, while Shibacals physical merchandise studio puts the Shiba Inu mascot on Champion hoodies.
So far, it’s unknown if the commercial use of the logotype can be restricted – the register indicates this logo has been trademarked in Indonesia and Spain. Interestingly, the designer permitted a vegan restaurant in Chiang Rai to use the logo.
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However, another fast food restaurant in Australia had attempted to make a deal with Sveinn Valdimarsson to use the Shiba Inu logo commercially but split ways after failing to reach an agreement – the restaurant carried on using the SHIB logo despite the designer’s legal claims.
On the Flipside
- SHIB Token insists that logo usage for multiple purposes is ‘fair game’ for a decentralized crypto project. For instance, SHIB Token’s Content Marketing Specialist Lucie said: “If you would like to use it on your clothes or whatever products you like to use in daily life, please feel free to share the Shiba logo.”
Why This Matters
The Shiba Inu logo issue presents a clash of perspectives relevant to most decentralized crypto projects.
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