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Shiba Inu (SHIB) at $0.01 Bet Remains in Force for David Gokhshtein

Tue, 03/21/2023 - 11:55
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Gamza Khanzadaev
SHIB reaching $0.01 is still enough for David Gokhshtein to delete his Twitter account
Shiba Inu (SHIB) at $0.01 Bet Remains in Force for David Gokhshtein
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Crypto enthusiast and media personality David Gokhshtein has reassured everyone that his bet on the price of the Shiba Inu token, SHIB, remains valid amid the recent hype over Balaji Srinivasan's $1 million Bitcoin wager. As a reminder, this includes Gokhshtein's promise to delete his Twitter account with 700,000 followers when SHIB's price reaches $0.01 per token.

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However, it is unlikely that such prospects for the Shiba Inu token in the near term can be seriously assessed, given that the price is now $0.0000105 per token. With the current volume of tokens in circulation equal to 589.5 trillion SHIB and a price of $0.01, the crypto asset's capitalization would be almost $5.9 trillion, equal to the value of Apple, Microsoft and Google combined. Nevertheless, Gokhshtein himself also realizes this fact.

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Anyway, if the same Balaji Srinivasan is willing to bet millions of dollars on a six-figure Bitcoin price, why can't SHIB cut a few zeroes from its value? The only thing is that it might be needed to burn another 40% of the original Shiba Inu supply, on top of the ones already in a "dead address." Also, the required SHIB price will definitely need record hyperinflation and an unprecedented global financial crisis.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.