- Vitalik Buterin said Shiba Inu (SHIB) “massively outperformed” his expectations.
- The Ethereum (ETH) co-founder burned the 410 trillion SHIB given to him in 2021 and donated 50 trillion to various causes.
- SHIB lead Shytoshi Kusama positively reacted to Buterin’s recent statements.
Vitalik Buterin’s Confession About Shiba Inu
Ethereum (ETH) co-founder Vitalik Buterin shared on X that he didn’t expect Shiba Inu to perform in the long run. It should be noted that he received 50% of the dog-themed meme coin’s circulating supply during its infancy. However, he placed his 410 trillion SHIB stash in a dead wallet and donated 50 trillion of the token to several non-profit organizations.
Buterin confessed that he initially expected SHIB to tank by 100 times when he got hold of its tokens. So, he quickly initiated the donations so the recipients could at least get $10 million to $25 million from it before the prices eventually went down the drain.
The statement of the Canadian computer developer came when Future of Life Institute (FLI) revealed that it didn’t expect the value of the Shiba Inu it got from a donation to be worth $600 million by now. It turned out that FLI was among the beneficiaries of Buterin’s SHIB giveaway back then.
Shytoshi Kusama Reacts
The Shiba Inu confession of Buterin was immediately picked up by the token’s pseudonymous lead, Shytoshi Kusama. The anonymous personality behind the token tweeted “#SHIBARMYSTRONG.”
The social media post also had a GIF saying, “That’s how we do it. It’s just the start.”
The recent interaction of the crypto personalities further fueled Shiba Inu’s rally this week to today’s high of $0.000032 after nearly two weeks of consolidation. As of this writing at 1:00 PM UTC, SHIB remains at that price, showing a pump of around 6% in the 24-hour frame.
Impressively, Shiba Inu has displayed an astonishing recovery of around 18% in the past seven days, over 191% in a month, and more than 210% within a year.
Developments in Shiba Inu
Shiba Inu is still 63% away from its all-time high (ATH) of $0.00008845, which it achieved in October 2021. However, there’s overall optimism in the crypto community that the token might eventually surpass those numbers or at least significantly narrow down the gap this year due to the numerous developments within the SHIB ecosystem.
Among the notable accomplishments of Shiba Inu as of late include its involvement in non-fungible token (NFT), metaverse, and Web3 game projects. Its adoption continues to gain traction in L2 blockchain solutions, too.
Due to the increasing public attention SHIB has been getting this year, it has already come under the radar of traditional finance publications like Forbes and The Motley Fool. The former even included the token in its top 10 cryptos to invest in for 2024.