Shiba Inu Developer Wants to Prove Real “Wolf of Wall Street” Wrong

Meme coins have become an integral part of the cryptocurrency space. However, not all investors and market participants believe in their value, with some terming them as useless to the cryptocurrency market.

Belfort Calls Shiba Inu Useless

Jordan Belfort, popularly known as The Wolf of Wall Street, has attacked meme coins, calling them shit. Belfort commented that some of the creators of the meme coins deserve to go to jail for creating useless cryptocurrencies.

He said, “I’m a fan of blockchain, but there’s a lot of nonsense out there, a lot of s**t coins which serve no purpose and are only there to separate people from their money. You hear crazy stories of people making millions and billions, but for every person like that, there are 10,000 or a 100,000 people getting their a** handed to them in Shiba Inu. It’s not a proper investment.”

However, Belfort is no saint himself. He became popular for siphoning money from investors and went to jail himself for his activities. Despite bashing meme coins, Dogecoin and Shiba Inu are worth billions of dollars at the moment.

Shiba Inu developer Shytoshi Kusama tweeted that he is determined to prove Belfort wrong about Shiba Inu and meme coins. He will prove that Shiba Inu is not a useless cryptocurrency and it has applications.

@wolfofwallst I'm sorry bro but #shib is NOT useless. Always open to discuss so you can see the vision. Until then, I look forward to proving you wrong on this one.

Warm Regards,
Shy

— Shytoshi Kusama™ (@ShytoshiKusama) December 2, 2021

Shiba Inu Remains One of the Leading Cryptocurrencies

Shiba Inu is one of the top 20 cryptocurrencies by market cap despite losing more than 1% of its value over the past 24 hours. At press time, SHIB is trading at $0.0000425 per coin, losing its place in the market to Avalanche and LUNA.

A former member of the Dutch House of Representatives, Zihni Özdil, recently commented that he is bullish on Shiba Inu and Dogecoin. He expects the price of the cryptocurrencies to rise over the coming weeks and months.

SHIB remains bearish as the broader cryptocurrency market is yet to recover from its recent losses. The MACD line is below the neutral zone, while the RSI of 43 shows that SHIB is heading into the oversold region. However, the medium and long-term outlook of the market remains positive.