Shytoshi Kusama, the anonymous lead developer of Shiba Inu, responded to doubts about SHIB’s ability to reach the $0.01 price point. The speech took place 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 of the crypto-focused fund 1confirmation—backed by notable investors such as Peter Thiel and Mark Cuban—posted on October 29 a list of what he considers “the most impactful crypto projects to date .” His list included Bitcoin, Coinbase, Ethereum, MakerDAO, OpenSea, Polymarket, and Bridge, noting that “they have all suffered from endless FUD and are using it as fuel.”
Shiba Inu’s Leading Producer Wants to Be Respected
Kusama chose to leave the Shiba Inu out of the list, replying, “Also, no disrespect… smh #SHIB.” This reaction underscores the feeling within the SHIB community that their project is often overlooked despite its achievements.
A user on X commented on Kusama’s post: “Until we go above $0.01 no one will respect us, it will always be a chump change meme!” Addressing this doubt, Kusama replied, “I’m sorry… the top 10 is not a chump change ser. The wise respect us. ‘Crypto Twitter’ does not have DYOR. “
Also, disrespect… smh #SHIB
— Shytoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Kusama’s emphasis on the SHIB marketplace reflects its position among the top cryptocurrency by market capitalization. Despite falling nearly 60% from its annual high of $0.00004567 since March, SHIB has maintained a significant presence in the crypto market, ranking as the 12th largest cryptocurrency by market cap.
In the same exchange on October 30, Kusama responded to a post by user @Vivek4real_, who highlighted Bitcoin as “the best performing asset of the last decade,” showing its 569,772% gain during that time. Kusama pointed out SHIB’s impressive growth from its lows, saying, “SHIB’s Current Life-to-Date (from its lowest) 33,774,726.7%.
He added, “There is still a long way to go and a lot of work to be done so that the Ecosystem is properly respected and the Treats in the package. So, don’t ignore Shib. Or do it, until you don’t know it anymore.”
$SHIB Time to Date (from all time low) 33,774,726.7%.
But again, I digress. We still have a long way to go and a lot of work to be done to give the Ecosystem the respect it deserves and Treats to the pack. So, don’t ignore Shib. Or do it, until you don’t know it anymore.
— Shytoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Continuing to emphasize SHIB’s massive performance relative to other major altcoins, Kusama noted that Dogecoin has gained “only” +202,583.0%, Solana +35,715.8% and BNB 1,521,482.8% since its inception.
These figures highlight SHIB’s extraordinary return on investment for the startup, surpassing even some of the most successful crypto assets. Even so, SHIB’s price would need an unprecedented 440% increase to reach the $0.01 target. Critics argue that without significant token burning or changes in supply, such a price point is mathematically challenging.
At press time, Shiba Inu traded at $0.00001849.
The featured image was created with DALL.E, a chart from TradingView.com