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Shytoshi Kusama, the lead developer of Shiba Inu SHIB/USD , denied a media report that said he had predicted a $100 billion market valuation for the meme cryptocurrency.
What Happened: I literally said not my words, Kusama said in response to an article published by a crypto-focused media outlet. Thats why I plan on making your publication obsolete.
The developer had earlier posted a meme gif on Twitter, saying Your words, not mine, quoting an internet personality who predicted Shiba Inu would reach 100 billion this cycle. The media report was seemingly based on this tweet.
See Also: From Crypto Tech Debates To Dogwifhat Love: Raoul Pal Embraces Alt Season Dominated By Dog With A Hat: Leave Your Brain Behind And Enjoy
Why It Matters: SHIBs market cap has been on a meteoric rise. On Monday, the cryptocurrencys market cap surged by 90% in 24 hours, reaching $26.71 billion. This placed SHIB ahead of tech giants such as Zoom, Snap, eBay, and MicroStrategy.
Despite a 13.3% dip in the past 24 hours, SHIB has seen a significant increase in active accounts and whale transactions. With 71% of SHIB holders currently in profit and 19% in the red, traders are optimistic about the uptrend continuing.
Read Next: From Dogecoin, Shiba Inu Ready To Go Crazy To GOPs CBDC Legislation And A Trader Making $3.25M With Trump-Related MAGA Memecoin: This Week In Cryptocurrency
March 6, 2024, 7:49 a.m. EST, Editors Note: This story and headline were updated to better comply with Benzinga editorial guidelines. There were no material factual changes.
Image via Shutterstock Engineered by Benzinga Neuro , Edited by Pooja Rajkumari
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