According to David Gokhshtein, inventor of distributed data network PAC Protocol and former Republican congressional candidate, the popular meme currency Shiba Inu (SHIB) has a possibility of reaching $0.001 but not the desired $1.
Gokhshtein stated that he personally believes Shiba Inu is incapable of making a bid for $1. At the time of writing, SHIB is trading at $0.00002552. This implies that it will need a 3.6 million percent increase to reach the illusive $1 threshold.
He does, however, anticipate the canine-themed token reaching at least $0.001. While SHIB $0.001 isn’t bad, SHIBArmy criticized the prominent crypto Twitter influencer for this objective, claiming that the inventors of the joke cryptocurrency have yet to reveal other token-burning techniques.
Prior to that, Gokhshtein said that SHIB’s inclusion in commission-free trading site Robinhood is a “wonderful thing” for the cryptocurrency market. Robinhood has listed Shiba Inu alongside Solana (SOL), Polygon’s MATIC, and Compound’s COMP coins, as ZyCrypto previously reported.
According to the head of Gokhshtein Media, SHIB might help attract new investors to crypto juggernauts Bitcoin (BTC) and Ether (ETH) (ETH).
SHIB is a meme currency with little usefulness. As is the case with its older brother Dogecoin, it is unclear why Shiba Inu was developed other than as a joke. Additionally, meme-based money cannot be used to purchase goods or services anyplace.
Nonetheless, the SHIB development team has been working non-stop to increase the token’s general acceptability. Following the debut of its metaverse, users may now participate in a three-day bidding event for over 36,000 parcels of land.
Milkshake of the Shiba Inu community remarked that SHIB would be used to add images and logos to the property parcels, as well as rename them. Notably, this function will assist in the burning of Shiba Inu tokens, hence spreading a SHIB identity to the surroundings.
SHIB will also be utilized to lease HUBS — the virtual space’s most valuable land tracts. Meanwhile, users must have their Leash or Shiboshi tokens locked in order to acquire plots early.
Also Read: Russia Turns Bullish On Bitcoin As A Draft Bill Suggests Crypto Adoption As Legal Tender
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