Shiba Inu (SHIB) has long been one of the most polarizing cryptocurrencies in the market, with passionate advocates and skeptics alike. Shytoshi Kusama, the pseudonymous lead developer of SHIB, recently addressed the ambitious yet controversial goal of reaching a $0.01 price point for the meme-inspired cryptocurrency. In a series of social media exchanges on X, Kusama defended SHIB’s growth potential and criticized those who downplay its success.
The Debate Heats Up
Nick Tomaino, founder of 1confirmation—a prominent crypto fund backed by names like Peter Thiel and Mark Cuban—posted a list of “most impactful crypto projects” on October 29, which included heavyweights like Bitcoin, Ethereum, MakerDAO, and OpenSea. Noticeably absent was Shiba Inu, which sparked Kusama’s frustration. He took to X to voice his discontent, writing, “Again, the disrespect… smh #SHIB,” capturing a sentiment felt by many in the SHIB community.
This moment highlights a recurring challenge for Shiba Inu: despite its considerable achievements, the project often struggles to gain recognition among institutional and veteran players in the crypto space. As one X user commented on Kusama’s post, “Until we move above $0.01, nobody will respect us. We’ll always be seen as ‘chump change.’” Kusama quickly countered, emphasizing SHIB’s position within the top 10 cryptocurrencies and noting, “Those who are wise give us respect. ‘Crypto Twitter’ just hasn’t done their due diligence (DYOR).”
Shiba Inu’s Staggering Returns
Kusama’s assertion isn’t unfounded. Since its inception, Shiba Inu has delivered an astronomical return of 33,774,726.7% from its all-time low, easily outshining Bitcoin’s and Ethereum’s growth rates. During another exchange on October 30, Kusama responded to a post by user @Vivek4real_, who highlighted Bitcoin’s 569,772% gain over the last decade as the best performance of any asset. Kusama then pointed out SHIB’s growth since launch, which dwarfs even Dogecoin’s impressive 202,583% increase.
While SHIB’s success is undeniable, it has yet to break through to what many in its community consider the ultimate milestone: a $0.01 price. Such a move would require a roughly 440% price increase from its current level. However, critics argue that with SHIB’s circulating supply still enormous, a $0.01 valuation might be mathematically out of reach without substantial token burns or structural changes to the supply.
Achieving a $0.01 price target remains one of SHIB’s most ambitious goals, and some argue it’s simply wishful thinking. With its market cap already ranking 12th among cryptocurrencies and a significant token supply, SHIB would need either substantial burns or an extraordinary influx of capital to reach this benchmark.
Token burns have been proposed as a potential pathway toward a higher price, as reducing supply could drive scarcity and increase value. However, many critics remain skeptical about the feasibility of these strategies on a large enough scale. Without such changes, SHIB’s journey to $0.01 might remain a lofty dream.
Also Read: The $100,019 SHIB Burn – Insights From Shiba Inu Enthusiasts And Market Analysts
Shytoshi Kusama – A Relentless Advocate for SHIB
Kusama’s active defense of SHIB underscores his commitment to the project’s long-term vision. He acknowledges that SHIB’s ecosystem still has a long road ahead but remains confident in its growth potential and standing in the crypto market. His words resonate with a growing base of supporters who see SHIB as more than just a meme coin.
Kusama’s final message to those who doubt Shiba Inu: “Ignore SHIB, or do, until you can no longer.” For now, SHIB’s price stands at $0.00001849, but Kusama’s words fuel hopes among SHIB enthusiasts that, one day, the coin may achieve the respect—and price point—they envision.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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