Shiba Inu Lead Clarifies His Stance on SHIB Reaching $100B Market Cap

Shiba Inu’s lead developer, Shytoshi Kusama, has countered a statement misattributed to him about Shiba Inu’s market valuation reaching $100 billion.

On Wednesday, Shytoshi Kusama reacted to a daring projection that SHIB would claim a market cap of $100 billion in this emerging bull cycle. The bold forecast came from Jake Gagain, a crypto investor with a notable following on X.

Gagain voiced his opinion about Shiba Inu’s outlook, saying, “SHIB Will Reach 100 Billion This Cycle.” The post caught Kusama’s attention. He reacted with a GIF featuring the inscription, “Your words, not mine.”

https://t.co/aUePEauoUo pic.twitter.com/vp0gk4FDtv

— Shytoshi Kusama™ (@ShytoshiKusama) March 5, 2024

Shiba Inu Lead Sets the Record Straight

While the Shiba Inu leader’s reply was clear and straightforward, some took it out of context. A site published an article with a misleading headline, stating Shiba Inu’s “project lead has teased the possibility of SHIB reaching a $100 billion market cap.”

This development has unsettled Shytoshi Kusama, who took to X to denounce the claim misattributed to him.

I literally said not my words. That's why I plan on making your publication obsolete. https://t.co/EEHyvuZeCD

— Shytoshi Kusama™ (@ShytoshiKusama) March 6, 2024

Kusama emphasized that his remarks were unambiguous when he stated, “Your words, not mine,” meaning that Gagain’s view of a $100 billion cap for SHIB is solely his.

Consequently, Kusama urged the site to rewrite the news headline and shun click-baiting maneuvers.

And I'll retract this uhm…X when you rewrite the title and stop clickbaiting

— Shytoshi Kusama™ (@ShytoshiKusama) March 6, 2024

SHIB Reaching $100 Billion Market Cap

At press time, Shiba Inu’s market valuation is approximately $19 billion. Gagain’s suggestion that SHIB could attain $100 billion this season is grounded in the asset’s astonishing performance in the past few days.

In particular, Shiba Inu has seen its market cap grow by over 400% within the last two weeks from around $5.6 billion to as high as $23 billion. This resulted from its price growing by a similar margin from $0.000009483 to a multi-year high at $0.00004534.

Meanwhile, bearish forces are currently prevailing in the crypto market, sinking SHIB’s price to $0.00003216 at the time of reporting.

Where Shiba Inu’s circulating supply remains steady at 589 trillion throughout this bullish period, achieving a market cap of $100 billion would set its value at $0.00016969. This price implies a potential growth of 427% from SHIB’s current value of $0.00003216.

Remarkably, SHIB recorded similar percentage growth over the past 14 days. Essentially, the asset might exceed the $100 billion valuation much sooner than Gagain expects.