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Ripple CTO Takes Dig at Shiba Inu

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Fri, 12/10/2021 - 19:15
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Alex Dovbnya
David Schwartz mocked Shiba Inu’s gargantuan supply in a recent tweet
Ripple CTO Takes Dig at Shiba Inu
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David Schwartz, chief technology officer at Ripple, took a swipe at meme cryptocurrency Shiba Inu in a recent tweet.

The architect behind the XRP Ledger mocked the token’s gargantuan supply, joking that losing a zillion SHIB tokens would amount to a loss of a minuscule $1.37.

Shiba Inu has a total supply of an eye-popping 1 quintillion tokens.

Shortly after the launch of the token, Ryoshi, the pseudonymous creator of the canine cryptocurrency, gifted half of the gargantuan supply to Ethereum co-founder Vitalik Buterin without his consent.

After Shiba Inu witnessed a massive rally on the back of the Dogecoin mania,  Buterin famously donated 50 trillion SHIB tokens to charity in May. Back then, they were worth $1.14 billion.

Buterin went on to burn 410.24 trillion tokens during the same month to distance himself from the project.

Schwartz’s joke comes after $33.4 million worth of SHIB tokens was stolen from the BitMart exchange last week.

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Shiba Inu (SHIB) Plunges as Vitalik Buterin Removes Liquidity from Uniswap Pool

Shiba Inu’s dazzling rally     

Schwartz’s joke riled up some members of the growing #ShibArmy. One member took a dig at XRP’s anemic price performance.

The Ripple-affiliated token is down a staggering 75.83% from its all-time high, remaining one of the few major cryptocurrencies not to reach a new peak during this market cycle.

The XRP community pins the blame on the lawsuit filed by the U.S. Securities and Exchange Commission against Ripple roughly one year ago.

Shiba Inu, despite correcting 59.65% from its October peak, continues to reign supreme among the best performing cryptocurrencies of the year.

The canine coin’s dizzying success likely rubbed many founders the wrong way. Earlier today, Cardano founder Charles Hoskinson took crypto payment processor BitPay to task for adding SHIB instead of ADA, claiming that the latter actually won the poll.
 

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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.