Shytoshi Kusama, the pseudonymous lead developer of Shiba Inu, responded to skepticism about SHIB’s potential to reach a $0.01 price target. 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 crypto-focused fund 1confirmation, backed by notable investors like Peter Thiel and Marc Cuban— published on October 29 a list of what it considers to be the “most impactful crypto projects to date.” His list included Bitcoin, Coinbase, Ethereum, MakerDAO, OpenSea, Polymarket, and Bridge, noting that “all faced endless FUD and used it as fuel.”
Lead Shiba Inu Developer Demands Respect
Kusama objected to Shiba Inu’s omission from this list, responding: “Again, the lack of respect… smh #SHIB.” This reaction highlights the feeling within the SHIB community that their project is often overlooked despite its achievements.
A user on X commented on Kusama’s job: “Until we go above $0.01, no one will respect us, it will always be a change meme!” Responding to this skepticism, Kusama retorted, “I’m sorry…top 10 is not a stupid change, sir.” Those who are wise respect us. “Crypto Twitter” just doesn’t have DYOR.
Once again, the lack of respect… smh #SHIB
– Shytoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Kusama’s focus on SHIB’s position in the market reflects its position among the top cryptocurrencies in terms of market capitalization. Despite being down almost 60% from March’s yearly high of $0.00004567, SHIB has maintained a significant presence in the crypto market, ranking as the 12th largest cryptocurrency by market capitalization .
In a similar exchange on October 30, Kusama replied to a post from user @Vivek4real_, who highlighted Bitcoin as “the best performing asset over the last decade,” showing its gain of 569,772% during this period. Kusama highlighted SHIB’s staggering growth since its all-time low, stating: “Current life of SHIB to date (compared to all-time low) 33,774,726.7%.”
He added: “We still have a long way to go and a lot of work to do to give the ecosystem the respect it deserves and treat the pack. So, don’t ignore Shib. Or do it until you can’t take it anymore.
$SHIB Current life 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 do to give the ecosystem the respect it deserves and treat the pack. So, don’t ignore Shib. Or do it, until you can’t take it anymore. https://t.co/ZGyJotYpf2
– Shytoshi Kusama™ (@ShytoshiKusama) October 30, 2024
Further highlighting SHIB’s massive performance compared to other major altcoins, Kusama noted that Dogecoin have gained “only” +202,583.0%, Solana +35,715.8% and BNB 1,521,482.8% since their creation.
These numbers highlight SHIB’s exceptional ROI for early adopters, even surpassing some of the best-performing crypto assets. Nonetheless, SHIB price is expected to see an unprecedented 440% surge to reach the $0.01 target. Critics argue that without a significant token burn or change in their supply, such pricing is mathematically difficult.
At press time, Shiba Inu was trading at $0.00001849.
Featured image created with DALL.E, chart from TradingView.com