Former Republican Congressional Candidate Sees Shiba Inu (SHIB) At $0.001, Says $1 Is Unlikely

David Gokhshtein, former Republican congressional candidate and the founder of the distributed data network, PAC Protocol, has stated that Shiba Inu (SHIB) has a chance of trading at $0.001, but reaching the coveted $1 is relatively impossible.

David Gokhshtein Sees at Shiba Inu At $0.001

According to Gokhshtein in a tweet, SHIB may never reach $1. Since the cryptocurrency currently trades at $0.00002586, it needs a 3.6 million percent surge in order to trade at the $1 level.

He, however, expects the canine-themed token to at least reach $0.001.

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.”

While SHIB $0.001 is not too shabby, SHIBArmy blasted the popular crypto Twitter influencer for this target, arguing that developers behind the meme cryptocurrency have not yet unveiled more token-burning mechanisms.

After tons of backlashes from SHIBArmy, Gokhshtein later clarified his assertion in relation 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.”

Prior to that, he had noted that the addition of SHIB to commission-free brokerage platform Robinhood 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).

Shiba Inu (SHIB) Now Most Used Smart Contract by Biggest Ethereum Wallets

According to WhaleStats, whales were actively buying the token, which caused increased usage of the Shiba Inu smart contract and made it the most used smart contract among the 2,000 largest Ethereum wallets.

In addition to high usage, market and on-chain metrics for Shiba Inu are also on the increase, with the average balance on whale addresses rising to 2.36 billion SHIB tokens and volume increasing by 436%, reaching $53 million.

The more important increase is the net flow of Shiba Inu on whale addresses, which has risen by almost 500%, suggesting that there are more inflows of SHIB tokens into whale wallets than outflows, indicating 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.

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.