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Crypto Influencer Considering Selling All Shiba Inu (SHIB) Tokens, Here's Why

Mon, 03/06/2023 - 09:50
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Alex Dovbnya
Sydney Ifergan, prominent crypto influencer, is considering selling all his Shiba Inu (SHIB) tokens due to concerns about token's stagnant price despite upcoming launch of Shibarium
Crypto Influencer Considering Selling All Shiba Inu (SHIB) Tokens, Here's Why
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Sydney Ifergan, a well-known crypto influencer, is considering selling all his Shiba Inu (SHIB) tokens, according to a recent tweet.

The influencer expressed his concern about the token's stagnant price despite the upcoming launch of Shibarium, a much-awaited Layer 2 solution.

The launch of Shibarium was supposed to be a turning point for SHIB, with many investors hoping that it would bring renewed interest and investment into the token. However, it seems that this has not been the case so far, and Ifergan's tweet suggests that many investors are losing faith in SHIB's long-term prospects.

It remains to be seen whether Ifergan will follow through with his plan to sell all of his SHIB tokens. However, his tweet is a clear indication that many investors are growing increasingly skeptical about the future of the token, which experienced a massive bull run in 2021 and turned many early investors into overnight millionaires.

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This sentiment is shared by many SHIB investors, who are growing increasingly skeptical about the token's long-term prospects. Two recent articles also discuss criticisms of SHIB, with Bigger Entertainment CEO Steven Cooper accusing SHIB of being a pyramid scheme due to the lack of burnt tokens and real achievements by the SHIB team, and CEO Alex McCurry calling SHIB and Dogecoin "garbage."

Additionally, controversy surrounding SHIB's developer community has escalated, with some accusing lead developer Shytoshi Kusama of reducing the project's decentralization level.

As reported by U.Today, Kusama announced his plans to develop a new decentralized platform called Shibarium, which is set to launch in the near future.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at