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.
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.
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.
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.
Coingape Staff
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.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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