On Sunday (October 24), the host of the highly popular YouTube-based crypto analysis and trading show “Altcoin Daily” apologized to the Shiba Inu ($SHIB) community for thinking of this project as just another meme-based coin competing with Dogecoin ($DOGE) for attention.
In a YouTube video released yesterday, at a time when $SHIB was trading around $0.00003880, the popular crypto analyst told the channel’s over one million subscribers that he had been wrong dismiss $SHIB as just another meme-based cryptocurrency and explained why he now believes that the project has huge potential.
More specifically, he started by saying that in the earlier video he had talked about the following tweets by crypto influencer “IncomeSharks”:
He then said that he had been contacted by many $SHIB fans who wanted him to do some research on the project in order to understand it much better. After doing this research, he came to the conclusion that he had been “actually dead wrong” with regard to his “shallow analysis” of Shib Inu.
He went on to say the purpose of this new video was to apologize to the $SHIB community and share his latest thoughts on $SHIB.
One $SHIB influencer who educated him on what makes $SHIB much more interesting than $DOGE was “Shib Keeper”, who had tweeted on October 22:
The analyst then pointed out that “Shiba is more of a competitor with Ethereum than Dogecoin.”
According to data by TradingView, on crypto exchange FTX, currently (as of 17:45 UTC on October 25), $SHIB is trading around $0.00004048, up 3.16% in the past 24-hour period. $SHIB is at the moment the 11th most valuable cryptoasset by market cap.
In the year-to-date period, per data by CoinGecko, $SHIB is up an insane 52,571,328% vs USD!
Finally, it is worth noting that $SHIB’s surge towards new all-time highs is not going unnoticed by mainstream media. For example, $SHIB was mentioned on Bloomberg TV earlier today:
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.