Shiba Inu Stands With Ethereum & Vitalik Buterin Amid FUD, Says SHIB Team

Coingapestaff
October 26, 2024
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Shiba Inu's Shytoshi Kusama Requests Vitalik Buterin Meeting To Promote SHIB

Highlights

  • Shiba Inu community showcases support for Ethereum and its co-founder Vitalik Buterin.
  • ETH encounters market heat due to selloffs by Buterin and the Ethereum foundation.
  • SHIB and ETH prices dip today.

Shiba Inu’s marketing lead Lucie on Saturday expressed immense support for Ethereum and its co-founder Vitalik Buterin amid rising FUD for ETH across the crypto space. The SHIB community bolstered the second-largest crypto by market cap amid rising market concerns attributable to large selloffs by the ETH Foundation and Buterin.

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Shiba Inu Team Says, “Shib People Like & Support Vitalik Buterin & Ethereum”

In an X post dated October 26, Shiba Inu’s marketing lead stated, “We Shib people, like and support VitalikButerin & Ethereum.” Further, the marketing lead stressed how important the network is, acting as the foundational base for SHIB ecosystem assets and Shibarium.

For context, these statements, offering support to one of the largest crypto by market cap, come against the backdrop of rising FUD in the ETH market. Notably, the social media platform X recently saw users calling out on the co-founder for dumping the coin. However, Vitalik Buterin claims, “I haven’t sold a single ETH in the past month? The amount of ETH I hold has actually gone up,” sparking market intrigue.

Vitalik Buterin on ETH dumps

Further, when asked about the ETH Foundation’s dumps, Buterin stated that the entity is paying researchers and devs on the network for reasons such as users’ fees being low today. Altogether, the co-founder’s statements defy any claims hinting that both parties are selling ETH. The Shiba Inu team has further jacked up these statements, as mentioned above.

Meanwhile, Kaaldhairya, another prominent developer within the SHIB community, stated, “When I see Vitalik Buterin facing the FUD, my own challenges / fud feel insignificant,” sparking additional market discussions.

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How Are The Coins Performing?

Simultaneously, ETH and SHIB both traded in the red zone today, mirroring the broader market trend. SHIB price tanked slightly over 4% in the past 42 hours and is currently trading at $0.00001691. Its intraday low and high were $0.00001605 and $0.00001785, respectively.

ETH price cracked nearly 3% over the past day and is sitting at $2,468. The coin’s intraday low and high were $2,381.45 and $2,563.73, respectively.

While Ethereum’s future prospects remain uncertain amid recent market events, Shiba Inu has garnered significant investor enthusiasm with recent developments. CoinGape Media reported that the SHIB burn rate surged remarkably amid rising Shibarium growth recently, injecting further optimism over the meme coin’s long-term prospects.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.