David Gochstein: "I will delete my Twitter account when SHIB hits $0.01"

Article Reading Time:
2 minutes.

The founder of Gokhshtein Media joked that he would delete his account on the most popular microblogging service if the rate of the meme cryptocurrency Shiba Inu reached 1 cent.

David Gokhshtein is optimistic about the further development of SHIB. The entrepreneur again expressed support for the token: 

“SHIB please give me one cent so I can delete this Twitter account.”

$SHIB, please hit one cent so I can delete this Twitter account.

Thanks.

— David Gokhshtein (@davidgokhshtein) January 22, 2023

If the target is indeed reached, the SHIB rate will jump by approximately 82,476% from its current level. The meme token has already shown remarkable growth in 2021. 

Not all of Gokhshtein’s subscribers accepted himnew tweet as a joke. Analyst Caleb Franzen noted that the target token price of $0.01 is implausible, since in this case SHIB's market capitalization would be $5.9 trillion. Now this figure is $6.6 billion.

However, Franzen may not have taken into account the combustion mechanismSHIB provided in the Shibarium update. This mechanism aims to significantly reduce the volume of the token, since SHIB will be burned every time a transaction is made with this crypto asset. Proponents of the token hope that regular burning will increase its value. The developers of Shiba Inu have not yet announced the exact launch date of the protocol, but last week they announced the launch of a beta version of the Shibarum second-layer network, which will allow the creation of decentralized applications and the integration of NFTs.

Earlier, Gokhshtein said that he believes in the potential of the XRP coin, despite the protracted legal proceedings between Ripple and the US Securities and Exchange Commission (SEC).