Shiba Inu Lead Reacts to Mark Cuban’s Support for SHIB and DOGE

• Shiba Inu lead developer, Shytoshi Kusama, invited billionaire Mark Cuban to have a constructive discussion over key growth factors in the SHIB ecosystem. 
• Cuban’s critique of newly launched meme coins, including the TRUMP token, contrasted his support for established names like SHIB.

Shiba Inu’s lead developer, Shytoshi Kusama, addressed a public endorsement from billionaire investor Mark Cuban on this interaction. It has led to a renewed focus on the SHIB, one of the most popular meme coins by market capitalization.

Shiba Inu Lead & Mark Cuban’s Meme Coin Saga

Cuban, who has never been one to hold back his thoughts on cryptocurrencies, used X (formerly Twitter) to point out the success of SHIB and other meme coins. On January 21, he posted, “It’s why Doge, Shibu Inu, and only a few others have worked. It’s about the community long term.” His comments were on the sustainability and longevity of meme coins supported by robust communities, as reported in our previous news article. 

Shytoshi Kusama responded directly to Cuban’s post, correcting the spelling of Shiba Inu, “Oh, and it’s SHIBA INU.” Kusama then extended an invitation to Cuban for a discussion. He wrote, “Why not align with us here at Shib? Take a 10-minute call and see that it’s not just community but real technology that keeps us going.”

The interaction has garnered much attention, especially since the SHIB developer hinted at technological advancements. These upgrades could even drive the project beyond its community-driven roots.

Cuban Criticizes Rising Meme Coins

Cuban’s commentary on Shiba Inu comes amid broader discussions about meme coins, including a newly launched cryptocurrency, TRUMP token. Cuban criticized the structure of the TRUMP token, questioning its credibility and value proposition.

“If meme coins are the way, maybe I’ll issue one. With a twist. Same terms as TRUMP,” Cuban posted. Here, he’s referring to a unique concept where all revenue from token sales would be directed to the U.S. Treasury. This remark has stirred debates about the role and future of meme-based cryptocurrencies.

SHIB Price Action Amid Broader Market Trends

Even though Shiba Inu has been under the spotlight since Cuban made his comments, the token’s price remained under downward pressure. SHIB price was trading at $0.00002073 on Tuesday, January 21, at the time of reporting with a 0.61% intraday decline. The 24-hour price range of the token stood between a low of $0.00001968 and a high of $0.00002125.

The drop comes in the midst of a broader market downturn, which seems to have outweighed the positive sentiment generated by Cuban’s remarks. However, Shytoshi Kusama hinted at potential developments for the SHIB ecosystem, stating in an earlier post that a “big week” lay ahead for the token’s community.

This statement has fueled speculation about upcoming announcements or technological advancements that could impact the token’s performance. According to our recent analysis, market participants remain attentive to potential catalysts that might drive SHIB’s price trajectory in the near future.