Shiba Inu has been the subject of criticism by whistleblower Edward Snowden.
An ex-National Security Agency consultant recently warned his followers not to invest their hard-earned money in a “clone of dog money.”
According to him, outsmarting the market is pretty unlikely. A few hours later, he tweeted encouragement to those who disagree with the warning to take profits.
Betting on Dog Coins is not safe?
With its stunning gains, “Dogecoin killer” has generated enormous buzz. The market capitalization of the whimsical cryptocurrency grew by 826 percent this month, making it one of the 10 largest cryptocurrencies.
Also Read : The Shiba Inu wave takes WazirX by storm; the company records its highest daily volume ever
Dogecoin’s supremacy over Shiba Inu was challenged this week as Shiba Inu became the biggest meme cryptocurrency in the world.
Snowden has a definite problem with people buying rubbish. However, he worries about those who may be manipulated into committing a “mortgage on the farm” to buy Shiba Inu.
Edward Joseph Snowden is a former computer intelligence consultant who leaked highly classified information from the National Security Agency (NSA) in 2013 when he was an employee and subcontractor for the Central Intelligence Agency (CIA). His disclosures revealed numerous global surveillance programs, many run by the NSA and the Five Eyes Intelligence Alliance with the cooperation of telecommunication companies and European governments, and prompted a cultural discussion about national security and individual privacy.
Elon Musk’s comments on Snowden’s Sunday remarks echo those of Snowden. According to reports, the billionaire behind the canine coin craze tweeted that he bought some crypto out of curiosity, urging his followers to invest in the speculative asset class.
Mainstream Media Sells Shiba Inu News
The mainstream media have covered a story about how someone turned $8,000 worth of Shiba Inus into $5.7 billion.
A few people, however, argue that the rally may not last because of the coin’s huge valuation and point out the greater fool theory.
The value of Shiba Inu and Dogecoin is currently greater than that of 388 companies in the S&P 500 index.
Mike Novogratz, the CEO of Galaxy Digital, recently compared Shiba Inu to e-car manufacturer Tesla, saying they are both at the mercy of communities that are sucking in new disciples.
Dogecoin clones Dogelon Mars and Shiba Inu are experiencing a similar trend, with Dogelon Mars trading up by 270% over the past week.