“Shiba Inu is Unlikely to Hit $1”: Says U.S Politician

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Cryptocom

The former Republican congressional candidate and founder of PAC Protocol, David Gokhshtein, recently made a bold statement about Shiba Inu. He believed that the dogecoin killer had a chance of trading at $0.001; however, reaching the coveted $1 is a long stretch.

Shiba Inu Can Hit $0.001

Gokhshtein stated on his Twitter handle that SHIB might never reach $1, and since the cryptocurrency currently trades at 0.00002586, it needs a 3.6 million per cent surge to trade at the $1 level. Nevertheless, he believes that the memecoin will reach at least $0.001 in the future.

David Gokhshtein tweeted,” I don’t believe $SHIB will hit $1, but I can see it touching $0.001. My personal opinion. I’ll take it.”

The Shiba Inu community driving the SHIB token were not impressed with the crypto influencer’s analysis, arguing that the SHIB developers are working behind the scene to build more token-burning mechanisms.

After the series of backlash from the SHIBArmy, Gokhshtein later clarified his view relating to the SHIB price trend.

“I stated $SHIB could hit $0.001, and I personally would be fine with it. If you think it’s going to hit $0.01, I’m fine with that also lol. In no way was I disrespecting the protocol.”

After Robinhood listed Shiba Inu on its platform, Gokhshtein commented that the move is a “great thing” for the crypto industry. According to the Gokhshtein Media founder, SHIB could help drive more investors to the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).

Ethereum Wallets Make Shiba Inu the Most Used Smart Contract

According to WhaleStats, the active token purchase by whales recently caused the rise of Shiba Inu smart contract usage. In addition, it is currently the most used smart contract among the 2,000 largest Ethereum wallets.

Furthermore, the market and on-chain metrics for SHIB tokens are also increasing. For example, the average balance on whale addresses is rising to 2.36 billion SHIB tokens, and volume is growing by 436%, reaching $53 million.

The best part of the increase is the net flow of Shiba Inu on whale addresses, which has risen by almost 500%, noting that there are more inflows of SHIB tokens than outflows, showing the short and mid-term bullishness of large investors.

Both volume and balances on whale addresses are also important metrics that show generally positive sentiment among large buyers.