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Dogecoin Rival Shiba Inu Lambasted by Michael Burry of “The Big Short”

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Mon, 10/11/2021 - 07:00
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Alex Dovbnya
Michael Burry has trashed Dogecoin copycat Shiba Inu in a recent tweet
Dogecoin Rival Shiba Inu Lambasted by Michael Burry of “The Big Short”
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Scion Asset Management head Michael Burry has made more enemies in the cryptocurrency space.

This time, the famed American investor, who was portrayed by Christian Bale in “The Big Short,” riled up the rapidly growing Shiba Inu army after describing the high-flying Dogecoin knockoff as “pointless” in a now-deleted tweet.

Burry took issue with Shiba Inu’s gargantuan maximum supply of 1 quadrillion tokens:   

One quadrillion days is 2.7 trillion years, or ALL of TIME, from the beginning of the universe, multiplied by 71,000. In other words, pointless.

Shiba Inu surged by over 300% last week, attracting plenty of headlines in the mainstream media. The rally has now come to a halt, but the Dogecoin offshoot remains the 20th biggest cryptocurrency at the time of writing.

Burry’s cryptocurrency skepticism is not limited to obscure canine altcoins.

In June, when Bitcoin was in the middle of a price correction, Burry predicted “the mother of all crashes” before issuing a warning for “trapped” Bitcoin bulls.  

He then doubled down on his bearishness by posting a head-and-shoulders pattern when Bitcoin was trading below $34,000                     

Those who paid heed to Burry’s tweets ended up missing out on significant gains, with the largest cryptocurrency recently recovering to the highest level since early May.

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Bitcoin Had Massive Dip on Bitstamp Before Hitting Highest Level Since Early May

Burry, who rose to fame after profiting big off of the 2008 subprime mortgage crisis, was recently ridiculed by cryptocurrency enthusiasts as a one-hit wonder following his failed predictions.

The “Big Short” hero also recently made sizable bets against Tesla and Cathie Wood’s ARK Invest.

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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 alex.dovbnya@u.today.