Yona Gushiken
Crypto genius and Ethereum founder Vitalik Buterin set the Shiba Inu community abuzz with excitement when he subtly tipped his hat to SHIB amid its relentless upward trajectory.
Having initially conceded to underestimating the crypto asset’s prowess, Buterin revealed that SHIB has shattered even his most audacious forecasts.
Shiba Inu started strong this week and continued to see a significant price surge despite the recent plummet of other major cryptocurrencies, including Bitcoin. SHIB has successfully retested the orange level this week and is now showing patterns reminiscent of its performance in 2021.
While the Shib Army celebrates the ongoing rally, Buterin, one of the most influential figures in the cryptocurrency and blockchain space, subtly praised Shiba Inu in a recent tweet, adding welcome fuel to the fire. His acknowledgment came in response to Frostwork director Nathan Young’s revelation about the substantial crypto assets held by the Future of Life Institute (FLI).
Young expressed skepticism about the crypto balance of FLI, doubting its substantial worth until a report from a digital news outlet validated its value. Buterin chimed in with candid reflections on his own experience.
Drawing parallels to his previous donation to crypto-relief, the Ethereum founder revealed his initial expectations about the Shiba Inu tokens he sent. Believing that the value would plummet dramatically within days, Buterin acted swiftly, anticipating that the recipients could cash out a modest sum, possibly in the $10-25 million range. However, as Buterin admitted, SHIB vastly exceeded his projections, demonstrating its remarkable performance against all odds.
FLI, a non-profit organization focused on AI research, stands as one of the beneficiaries of Buterin’s generous Shiba Inu donations. It’s worth noting that Ryoshi, the elusive pseudonymous creator behind Shiba Inu, gifted the Ethereum founder with half of Shiba Inu’s total supply. In a philanthropic move in 2021, Buterin opted to burn 410 trillion SHIB tokens and distributed the remaining to several non-profit organizations, including FLI.
SHIB has surged by an impressive 200% in just the past month, solidifying its standing as one of the standout performers in the cryptocurrency landscape. Numerous crypto analysts have weighed in with optimistic forecasts, suggesting that Shiba Inu could experience a significant rally, with some even going as far as predicting that SHIB could reach a new all-time high price before the year ends.
As of 7:20 a.m. ET on Wednesday, Shiba Inu was trading at $0.000031, boasting a robust 24-hour trading volume of $2,166,724,804. While SHIB experienced a minor dip of 0.36% within the day, it has showcased impressive gains, climbing 19.13% over the past week and a staggering 194.39% in the last 30 days alone.
Currently sitting on the 11th spot on CoinMarketCap, Shiba Inu commands a market cap of $17,986,430,554. The circulating supply stands at a 589,289,410,812,691 SHIB, according to the latest data from CoinMarketCap.
