Chitoshi Kusama, the lead developer with the alias Shiba Inu, responded to doubts about SHIB’s ability to reach its $0.01 target price. The speech was revealed on social media platform X, where Kusama interacted with critics and highlighted the significant growth SHIB has achieved since its inception.
Nick Tomaino, founder and general partner of cryptocurrency-focused fund 1confirmation — backed by prominent investors like Peter Thiel and Mark Cuban — on October 29 published a list of what he considers “the most impactful cryptocurrency projects to date.” His list included Bitcoin, Coinbase, Ethereum, MakerDAO, OpenSea, PolyMarket, and Bridge, noting that “all of them faced endless chaos and used it as fuel.”
The master developer of the Shiba Inu demands respect
Kusama objected to the Shiba Inu being omitted from this list, replying: “Once again, disrespectful… smh #SHIB.” This reaction underscores the feeling within the SHIB community that their project is often overlooked despite its achievements.
One X user commented on Kusama mail: “Until we cross $0.01, no one will respect us, and we will always be just change memes!” In response to these doubts, Kusama responded by saying: “I’m sorry… Top 10 is not chump change. Those who are wise give us respect. ‘Encrypted Twitter’ has no DYOR.”
Again, disrespectful… smh #SHIB
— Chitoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Kusama’s focus on SHIB’s market position reflects its position among the top cryptocurrencies by market cap. Despite falling nearly 60% from a yearly high of $0.00004567 since March, SHIB has maintained a significant presence in the cryptocurrency market, ranking as the 12th largest cryptocurrency by market capitalization.
In a similar exchange on October 30, Kusama He responded to a post by user @Vivek4real_, who highlighted Bitcoin as the “best-performing asset of the past decade,” showing its gain of 569,772% over that period. Kusama noted SHIB’s incredible growth since its all-time low, saying, “SHIB’s current life to date (from all-time low) is 33,774,726.7%.”
He added: “We still have a long way to go and a lot of work to do to get the respect the ecosystem deserves and its treatment of everyone. So, don’t ignore Sheep. Or do until you can’t.”
$SHIB Current age so far (from all-time lows) 33,774,726.7%.
But again, I digress. We still have a long way to go, and there is a lot of work to do to get the respect and treatment of everyone the ecosystem deserves. So, don’t ignore gray hair. Or do it until you can’t. https://t.co/ZGyJotYpf2
— Chitoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Underscoring SHIB’s tremendous performance compared 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 numbers highlight SHIB’s exceptional return on investment for early adopters, exceeding even some of the most successful crypto assets. However, SHIB price would need an unprecedented 440% rise to reach the $0.01 target. Critics argue that without significant token burn or changes in supply, this price point presents a mathematical challenge.
At the time of writing, the Shiba Inu was trading at $0.00001849.
Featured image created with DALL.E, a chart from TradingView.com