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 of crypto-focused fund 1confirmation—backed by notable investors like 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 “all have faced endless FUD and used it as fuel.”
Shiba Inu’s Lead Dev Demands Respect
Kusama took exception to the omission of Shiba Inu from this list, responding, “Again, the disrespect… smh #SHIB.” This reaction underscores a sentiment within the SHIB community that their project is often overlooked despite its achievements.
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’s emphasis on SHIB’s market position reflects its standing among the top cryptocurrencies by market capitalization. Despite being down almost 60% from the yearly high at $0.00004567 from March, SHIB has maintained a significant presence in the crypto market, ranking the 12th largest cryptocurrency by market cap.
In a similar exchange on October 30, Kusama responded to a post by user @Vivek4real_, who highlighted Bitcoin as “the best-performing asset in the last decade,” showcasing its 569,772% gain over that period. Kusama pointed out SHIB’s staggering growth since its all-time low, stating, “SHIB Current Lifetime to Date (from all-time low) 33,774,726.7%.”
He added, “We still have far to go and much work to be done to get the Ecosystem the respect it deserves and Treats out to the pack. So, don’t ignore Shib. Or do, until you can no longer.”
$SHIB Current Lifetime to Date (from all time low) 33,774,726.7%.
But again, I digress. We still have far to go and much work to be done to get the Ecosystem the respect it deserves and Treats out to the pack. So, don’t ignore Shib. Or do, until you can no longer. https://t.co/ZGyJotYpf2
— Shytoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Further emphasizing SHIB’s massive performance relative to other major altcoins, Kusama noted that Dogecoin gained “only” +202,583.0%, Solana +35,715.8% and BNB 1,521,482.8% since their inception.
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.
Featured image created with DALL.E, chart from TradingView.com