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.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
