Crypto
Shiba Inu unlikely to reach $1, Michael Gayed criticises meme coins
Renewed criticism has emerged that Shiba Inu (SHIB) is effectively unable to reach $1. On June 19, blockchain outlet U.Today reported that macro strategist Michael Gayed publicly pushed back against expectations in parts of the market. The debate was sparked by a TXMC post arguing SHIB would need a market value exceeding total global dollar money supply. Gayed also linked the crypto downturn to a second stage of a global liquidity crisis and criticised bitcoin’s defensive role.
