The founder of Gokhshtein Media joked that he would delete his account in the most popular microblogging service if the Shiba Inu exchange rate reached 1 cent.
David Gokhshtein is optimistic about the future development of SHIB. The entrepreneur again expressed support for the token:
“SHIB, please press down to one cent so I can delete this Twitter account.”
$SHIBplease hit one cent so I can delete this Twitter account.
— David Gokhshtein (@davidgokhshtein) January 22, 2023
If the indicator is indeed reached, the SHIB rate will jump by about 82,476% from the current level. In 2021, the meme token has already shown significant growth.
Not all of Gohshtein’s followers took his new tweet as a joke. Analyst Caleb Franzen noted that the $0.01 target price for the token is implausible, since in this case the market capitalization of SHIB will be $5.9 trillion. Now this figure is $6.6 billion.
However, Franzen may not have taken into account the SHIB burning mechanism provided in the Shibarium update. This mechanism aims to significantly reduce the volume of the token, since SHIB will be burned with every transaction with this crypto asset. Supporters of the token hope that regular burning will increase its value. Shiba Inu developers have not yet announced the exact launch date of the protocol, but last week they announced the launch of a beta version of the Shibarum network of the second level, which will allow the creation of decentralized applications and NFT integration.
Gohshtein previously stated that he believes in the potential of the XRP coin, despite Ripple’s protracted litigation with the US Securities and Exchange Commission (SEC).
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.