How Shiba Inu ‘outperformed’ Vitalik Buterin’s expectations

• FLI’s Shiba Inu holdings amounted to over half a million dollars.
• Buterin highlighted SHIB’s remarkable resilience.

The memecoin craze is far from over. What were considered assets with no real value have continued to make waves in 2024. The newest addition to this mania was a surprising discovery uncovered by Politico.

In a recent article, they highlighted the Future of Life Institute’s (FLI) Shiba Inu [SHIB] holdings. What the article revealed surprised everyone. Notably, this non-profit organization amassed SHIB worth $665 million.

Going back to May 2021, Ethereum co-founder Vitalik Buterin donated massive amounts of meme coins to several charities. FLI was one of them.

Yet, this staggering amount wasn’t something anyone ever anticipated, including Buterin.

Buterin’s changing perception of Shiba Inu

Reacting to this development on X (formerly Twitter), Buterin lauded SHIB. He stated, 

“It’s the same situation as with cryptorelief: I quickly sent a pile of SHIB, thinking it would surely drop 100x in a few days so I had to act fast, and expecting they would be able to cash out at most like $10-25m.  But of course SHIB massively outperformed my expectations…”

Notably, SHIB’s value did drop post the CryptoRelief donation. However, it recovered quickly. The continued rally even led the token to hit an all-time high (ATH) just five months later in October 2021

SHIB market status

How did this resurgence of positive belief reflect on the price front? An analysis of CoinMarketCap’s data revealed that the token was up by 1.45%, trading at $0.0000309 at press time.

The trading volume showed an uptick of 5.56% as well.

AMBCrypto recently reported that SHIB ranked as the second most searched crypto asset in Europe, with the first being Bitcoin [BTC]. Additionally, the Social Volume remained high throughout the last week.

This marked a collective positive outlook for the dog-themed token.