Co-founder of Ethereum Vitalik Buterin was recently spotted at LABITCONF (Latin American Bitcoin and Blockchain Conference) Argentina. At the conference, Buterin was asked for his opinion on 20% from Crypto.com Shiba Inu (SHIB) reserve. Hearing this, Buterin first raised his eyebrows and then shared his thoughts.
The first thing Buterin said was:
“Wow. 20% in Shiba Inu.”
Buterin went on to say that it was impressive for Crypto.com to have this much SHIB. The 28-year-old programmer added that he was impressed that Shiba Inu still had a $6 billion market cap.
However, the Ethereum co-founder said he doesn’t understand the psychology of a person who has $10 million in SHIB “right now”.
Buterin’s response is no surprise given that the popular dog-themed crypto project has lost a lot of value this year. Recently, SHIB’s market cap fell below $6 billion, currently at $5.4 billion.
Now Buterin is no stranger to Shiba Inu. The programmer was gifted half of all SHIB when it was created in August 2020. Buterin, not knowing what to do with it, decided to burn 90% of his share. He then donated $1 billion to SHIB for India’s Covid-19 effortas the country was badly affected at the time.
Is Shiba Inu making a comeback soon?
SHIB is undoubtedly one of the most popular crypto tokens ever. The project has a hardcore fan base that is always around to offer support. In addition, the project has a number of interesting launches planned for the near future. The most anticipated launch is the Shibarium, the project’s layer-2 network. Shibarium aims to reduce transaction costs while increasing speed. The project is also working on two additional tokens, a reward token called TREAT and a stablecoin called Shi.
If the launches go according to plan, we could see a reversal in SHIB’s price. However, there is currently a general atmosphere of fear and uncertainty in the crypto markets. Therefore, the team may decide to move the launches to a later date after markets stabilize. Nevertheless, once markets pick up again, SHIB could see another bull run like in 2021.
At the time of the press was Shiba Inu (SHIB). trade at $0.00000921, down 1.8% in the past 24 hours.