Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, responded to skepticism about SHIB’s potential to succeed in a $0.01 price goal. 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 listing of what he considers the “most impactful crypto projects to this point.” His list included Bitcoin, Coinbase, Ethereum, MakerDAO, OpenSea, Polymarket, and Bridge, noting that “all have faced limitless 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 response underscores a sentiment throughout the SHIB community that their project is usually neglected despite its achievements.
A user on X commented on Kusama’s post: “Until we move above $0.01 no person will respect us, will at all times be a chump change meme!” Addressing this skepticism, Kusama retorted, “I’m sorry… top 10 isn’t chump change ser. Those that are smart 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 many top cryptocurrencies by market capitalization. Despite being down almost 60% from the yearly high at $0.00004567 from March, SHIB has maintained a big presence within the crypto market, rating the twelfth largest cryptocurrency by market cap.
In an identical exchange on October 30, Kusama responded to a post by user @Vivek4real_, who highlighted Bitcoin as “the best-performing asset within the last decade,” showcasing its 569,772% gain over that period. Kusama identified 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 far 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 possibly can not.”
$SHIB Current Lifetime to Date (from all time low) 33,774,726.7%.
But again, I digress. We still have far to go and far 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 possibly can not. 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 among the most successful crypto assets. Nevertheless, the SHIB price would wish to experience an unprecedented surge of 440% to succeed in the $0.01 goal. Critics argue that without significant token burns or changes to its supply, such a price point is mathematically difficult.
At press time, Shiba Inu traded at $0.00001849.
Featured image created with DALL.E, chart from TradingView.com