Jeff Lewis, co-founder and managing partner of venture capital firm Bedrock Capital, noted the similarities between Shiba Inu and electric car maker Rivian.
According to Geoff Lewis, the similarities between Shiba Inu and Rivian are that they achieved huge capitalization without doing anything useful. So, the capitalization of SHIB is growing just on the hype, and the capitalization of Rivian has exceeded $ 100 billion, although the manufacturer is only setting up the release of its first commercial product – the R1T electric pickup truck.
Last week, Rivian Automotive held an IPO on the US stock exchange Nasdaq, which became the largest US company in the past 9 years. The share price was $ 123 per share, and the company’s capitalization reached $ 104 billion, which is more than most car manufacturers in the world.
The most interesting thing is that Rivian has not yet started mass production of electric vehicles. Since the start of production, which started two months ago, only 150 R1T pickups have been assembled, and the company has not even started production of the R1S SUV yet.
“Rivian and Shiba Inu have more similarities than differences. We see a perverted economy, when nice words about the future replace the current real economic indicators ”, – stressed Lewis.
Recall that at the end of October, the capitalization of Shiba Inu exceeded $ 50 billion. However, since then, the “dog coin” has lost almost half of its capitalization and now the figure is $ 28 billion. Former NSA agent Edward Snowden also warned about the dangers of investing in SHIB.
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