Shiba Inu Vs Ethereum: Twitterverse Explodes

Ethereum co-founder Vitalik Buterin heaped praise on Shiba Inu for exceeding all expectations. Lead developer Shytoshi Kusama, too, joined the banter, sparking discussions within the crypto community. Buterin recounted his experience of sending a substantial amount of SHIB tokens with the expectation of a dramatic drop. However, he admitted SHIB “massively outperformed his expectations. Kusama’s response: “That’s how we do it. It’s just the start,” echoed the sentiment of development.

It’s the same situation as with cryptorelief: I quickly sent a pile of SHIB, thinking it would surely drop 100x in a few days so I had to act fast, and expecting they would be able to cash out at most like $10-25m. But of course SHIB massively outperformed my expectations…

The coin’s rise to prominence has been significantly influenced by Buterin’s association with it since 2021. Notably, Buterin’s decision to destroy $6.7 billion worth of Shiba Inu coins through a process known as coin burn garnered immense traction back then. This move, aimed at reducing the total supply of SHIB tokens, has shown promise for curbing inflation rates, leading to cautious optimism among investors.

Following Buterin’s announcement, Shiba Inu’s price experienced a positive response, marking an uptick from $0.000013 to $0.000016 on May 17th of the year. In a note accompanying the transaction, Buterin expressed admiration for the dog token communities’ charitable efforts, further emphasizing his commitment to the cause.

However, Buterin’s subsequent donation of 50 trillion SHIB to the India Covid Relief Fund had unexpected consequences. The value of Shiba Inu coins plummeted by over 40%, indicating a significant market shift. This downturn, compounded by Buterin’s decision to liquidate trillions of gifted tokens, highlighted the volatility inherent in cryptocurrency markets.

Shiba Inu Available Robinhood’s Android Wallet

Interestingly, the then-Shiba Inu coin’s founder, Ryoshi, had previously agreed with Buterin not to sell these coins, contributing to the perception of artificial scarcity. This understanding helped sustain the coin’s value during periods of market turbulence.

Last week, Shiba Inu gained access to Android wallet users thanks to Robinhood’s new wallet launch. The rollout will enable users to hold keys and ensure control over digital assets. SHIB users can utilize a multitude of functionalities, including accessing crypto-swapping on Ethereum, Polygon, and Arbitrum networks via the 0x API and LI.FI and fund wallets directly from Robinhood balances or other wallets/exchanges.