Shiba Inu: Shytoshi Kusama Hits Back At Doubters Over $0.01 Price Target

by

As a researcher with years of experience in the cryptocurrency market, I can say that I have witnessed the rise and fall of numerous digital assets. The discourse surrounding Shiba Inu (SHIB) and its potential to reach a $0.01 price target is particularly intriguing.

Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, responded to skepticism about SHIB’s potential to reach a $0.01 price target. The discourse unfolded on social media platform X, where Kusama engaged with critics and highlighted SHIB’s significant growth since its inception.

Nick Tomaino, founder and General Partner at the cryptocurrency-centric fund 1confirmation (which boasts investors like Peter Thiel and Mark Cuban), recently shared his perspective on October 29th about what he views as the “most significant crypto projects to date.” This list encompasses Bitcoin, Coinbase, Ethereum, MakerDAO, OpenSea, Polymarket, and Bridge. Tomaino highlighted that each of these projects has encountered persistent negativity (FUD) but have instead used it as a driving force.

Shiba Inu’s Lead Dev Demands Respect

Kusama expressed frustration over the absence of Shiba Inu on the given list, stating, “Once again, the lack of recognition… rolling my eyes #SHIB.” This response highlights a common feeling among SHIB supporters that their endeavor is frequently disregarded in spite of its successes.

A user on X commented on Kusama’s post: “Until we move above $0.01 nobody will respect us, will always be a chump change meme!” Addressing this skepticism, Kusama retorted, “I’m sorry… top 10 isn’t chump change ser. Those who are wise give us respect. ‘Crypto Twitter’ just hasn’t DYOR.”

Again, the disrespect… smh #SHIB

— Shytoshi Kusama (@ShytoshiKusama) October 30, 2024

Kusama points out that Shiba Inu’s (SHIB) place in the market highlights its position as one of the leading cryptocurrencies by total market value. Even though SHIB has dropped nearly 60% from its yearly peak at $0.00004567 in March, it continues to hold a substantial role in the crypto market, ranking as the 12th largest cryptocurrency based on market capitalization.

On October 30th, in a similar conversation, Kusama replied to @Vivek4real_’s post where he emphasized Bitcoin as the top-performing asset of the last decade with a massive 569,772% increase. In response, Kusama drew attention to Shiba Inu’s remarkable growth from its record low, saying, “Shiba Inu has seen an astonishing 33,774,726.7% rise since then.

He stated, “There’s still a long way to go and plenty of efforts needed to ensure the Ecosystem is given its due respect and treated properly. Therefore, disregard Shib at your own risk, or do so for now.

$SHIB Current Lifetime to Date (from all time low) 33,774,726.7%.

As a crypto investor, let me emphasize that our journey is far from over. We still need to strive and put in the hard work to earn the recognition and respect the Shiba Inu ecosystem deserves. So, I suggest not overlooking Shib. You might choose to ignore it now, but its potential significance could become apparent when you least expect it.

— Shytoshi Kusama (@ShytoshiKusama) October 30, 2024

To underscore SHIB’s impressive growth compared to other significant cryptocurrencies, Kusama pointed out that Dogecoin has risen “merely” by 202,583.0%, Solana by 35,715.8%, and BNB by a staggering 1,521,482.8% since their initial release.

These figures highlight SHIB’s exceptional return on investment for early adopters, surpassing even some of the most successful crypto assets. Nevertheless, the SHIB price would need to experience an unprecedented surge of 440% to reach the $0.01 target. Critics argue that without significant token burns or changes to its supply, such a price point is mathematically challenging.

At press time, Shiba Inu traded at $0.00001849.

Shiba Inu: Shytoshi Kusama Hits Back At Doubters Over $0.01 Price Target

Read More

2024-11-01 03:42