Monday, August 8

Is Shiba Inu dog poop? Anthony Pompliano seems to think this

Last Thursday Anthony Pompliano posted a video on YouTube in which he openly stated that Shiba Inu was actually a scam and assured that it should be labeled “dog poop.” Without a doubt, the crypto community fanatic of this cryptocurrency is not very happy.

Shiba Inu is a scam?

For those who do not know, Shiba Inu is one of the most popular “meme coins” in the crypto market along with Dogecoin.

And, just on October 27, Shiba Inu managed to surpass the market capitalization of Dogecoin and positioned itself among the Top 10 of cryptocurrencies. Obviously this movement by the crypto meme generated conversation topics in the crypto community.

In particular, meme coins are considered by some to be the riskiest and most disconcerting investments on the market, while others think the opposite. So it is not strange to observe on Twitter the debates, some friendly and others not so much, about the value of Shiba Inu.

As part of this debate, the Morning Brew news outlet public on Twitter a comment about how an investor had transformed USD 8,000 in Shiba Inu (SHIB) into USD 5.7 billion in just 400 days.

Thus, the Morning Brew comment caught the attention of Anthony Pompliano and therefore he posted a video response to clarify his thoughts on Shiba Inu.

‘Dog poop’

“There is absolutely no reason why someone should have Shiba Inu, other than that it can go up because other people are going to buy it”, said Pompliano. “There is no developmental activity, there is no underlying value … This is dog poop!”

In general, the main criticism Shiba Inu receives is that it is an empty cryptocurrency; that is, it does not have a development or solve a problem that gives it an underlying value. According to Pompliano, the inherent value of SHIB is its price increase, not fundamental aspects that the project offers.

Therefore, Pompliano explains that “yes, someone bought $ 8,000 and turned it into $ 5.7 billion… but if you tried to sell those… Shiba Inu… what would happen is that the price would plummet so drastically that I would wonder if you could take out a billion ».

And therefore Pompliano thinks that investing in Shiba Inu is Russian roulette; you win or you completely screw up. “This is not an investment strategy,” he assured.

In this way, Pompliano classified Shiba Inu as dog poop, or dog poop, advising not to buy it and ensuring that he does not have any of this crypto in his heritage.