Gokhshtein Lets Out Sigh of Relief as Shiba Inu FUD Wanes, Bashes Detractors

The market uncertainty had caused SHIB tokens to record double-digit percentage losses earlier in the week.

Gokhshtein Media founder and prominent meme coin supporter David Gokhshtein has expressed relief that campaigns to discredit the Shiba Inu project have fizzled out. 

The entrepreneur did this in a tweet yesterday while also calling out those that gave voice to the fear, uncertainty, and doubt (FUD).

“If people just want to start a different project, just do it,” Gokhshtein tweeted. “Why FUD the people who gave you a platform?”

I’m glad we’re done with the FUD on $SHIB.

If people just want to start a different project, just do it. Why FUD the people who gave you a platform?

— David Gokhshtein ®️ (@davidgokhshtein) March 17, 2023

Recall that earlier this week, a member of the BONE Discord, in a message that made the rounds on crypto Twitter, had accused Shibarium developers of ripping off another project and failing to change the chain ID. Consequently, the price of SHIB plummeted as much as 10% on the day, while the price of BONE, the gas token for the Shibarium network, dropped as much as 26% as the uncertainty drove investors to dump these tokens. 

Notably, at this time, the Gokhshtein Media founder had taken to Twitter to allude that his SHIB investments were not doing well in light of the market uncertainty. As a result, he urged community members to stop spreading FUD. Also worthy of note is that Gokhshtein likely added to his SHIB holdings at the end of last month in anticipation of a potential price pump with the launch of Shibarium, as implied in a February tweet.

As highlighted by the entrepreneur, some of the persons that have given voice to the negative Shibarium narratives are former members of the SHIB team that had a fallout with lead developer Shytoshi Kusama in January. Notably, most of them are now members of the PawSwap team. For context, PawSwap is a proposed decentralized exchange set to launch on Shibarium that has gained notoriety within the community in recent weeks. Consequently, it is a potential ShibaSwap competitor.

With the waning uncertainty, SHIB appears to be staging a recovery. It is up more than 5% in the last 24 hours, with BONE up 7% in the same period. 

Recall that, as reported on Friday, the Rinia developer disclosed that Shibarium developers did not copy his code but used his chain ID.