Speculations have stated that Jeff Bezos, one of the wealthiest men in the world, backs Shiba Inu. Various content on YouTube and blogs even declare him as the owner of the “Dogecoin Killer.” Is it true that the Amazon tech giant has followed suit with Elon Musk to support cryptocurrency? You’re about to find out.
The name Jeff Bezos is almost a household name that bears massive influence. He is the second-wealthiest man in the world, an entrepreneur, philanthropist, and the executive chairman of Amazon – one of the most valuable brands in the world. Merely declaring him a partner of Shiba Inu will drive traffic and cause an increase in the coin’s price.
This is why the fans of the Shiba Inu coin want the billionaire’s support. With Dogecoin gaining more acceptance with Elon Musk’s input, Shiba Inu seeks to use a similar approach to influence the meme coin.
Context Behind the Rumors
In recent years, the cryptocurrency market has achieved a unique achievement, having updated the record of capitalization in the region of $3 trillion. This is an incredible achievement for such a young industry. Much of this BOOM of digital coins is driven by large amounts of liquidity and the bullish rally of Bitcoin.
However, there is another direction that has managed to become hype. These are meme tokens, which, thanks to the publicity of many famous personalities, managed to increase their own capitalization.
The most famous representatives of the meme crypto cohort are DOGE coin under the personal tutelage of one famous billionaire named Musk. The “unofficial children” of the first and most hype meme-coin Floki Inu and Shiba Inu have also gained a lot of popularity.
However, they have not yet been able to achieve the greatness of DOGE. Despite this, meme tokens have one important feature – they are a very strong and active community. Shiba Inu fans are actively looking for a global influencer for their coin.
How Did Bezos Enter the Equation?
Apparently, Shiba Inu fans’ choice fell on one of the richest people on the planet, Jeff Bezos. The Amazon owner is very cautious about what he says about digital assets. Despite this, the main goal of the Shiba Inu coin in the news about Jeff Bezos is to get the attention of Bezos and create an association like DOGE with Elon Musk.
It is clear that the meme-token community pursues personal selfish goals. They are very attracted by the possibility of influencing asset quotes with one statement or even a tweet. The case of Elon Musk leaves no doubt to investors that similar features from Jeff Bezos will become a catalyst for the growth of Shiba Inu quotes.
However, does the head of Amazon have anything to do with the meme digital asset?
Is Shiba Inu Backed By Jeff Bezos?
There are currently no official reports of Bezos holding Shiba Inu coins, so beware of fake reports and misleading YouTube videos.
Various social media influencers, content creators, and public figures have attempted to spread rumors or make fake messages that Bezos is part of the community. Shiba fans create numerous petitions on Reddit, Twitter and launch flash mobs on Instagram.
Influencers have also tried to create content targeted at SHIB fans to get them to convince Bezos on social media. These influencers projected the billionaire as a member of the Shiba Inu community to draw millions to the space.
Jeff Bezos/ photo: marketrealist.com
In 2021, SHIB fans took to the internet with petitions that Jeff Bezos should support the token. Erik Peterson started a petition welcoming Jeff Bezos into the SHIB community. This petition was signed by 13,274 fans, almost reaching 15,000, the target.
The creator tagged Jack Dorsey, Mark Zuckerberg, Reddit, Google, and other companies to the petition. However, Erik posted his SHIB wallet address which raised suspicion about his true intentions for starting the petition. None of these efforts has received a response from the billionaire.
Amazon and Memecoins
There is a problem here and it lies in the fact that despite the activity of the Shiba community, it is too small in number to “get through” to one of the richest people on the planet. Therefore, all attempts to start rumors about a possible connection between Bezos and Shiba fail or have a short-term effect.
Other than that, nothing is known about the Amazon CEO’s interest in certain digital assets or wallets. It is likely that the billionaire has a certain investment portfolio, but any publicity will lead to total interest and discussion of a particular application or cryptocurrency.
However, there is news that Amazon wants to enter the crypto space, so Jeff Bezos could probably be keen on cryptocurrency. Despite these speculations, no accurate reports detail the business mogul’s support of the Shiba Inu coin or any other cryptocurrency.
What’s the Future for Shiba Inu?
SHIB token is currently $0.0000106, although it reached an all-time high on October 28, 2021, at $0.00008616.
An anonymous personality named Ryoshi created it in 2020. Interestingly, he disappeared from social media after deleting all his tweets in May 2022 and almost all his blog posts. This token is built on the Ethereum blockchain to ensure security, decentralization, and acceptability. It has made many multi-millionaires within a short time.
The creator made the coin influenced mainly by the community. The token is a highly volatile and risky investment because its value is determined by the input of famous personalities and social media hype.
However, Shiba Inu still has devoted followers of over 3 million on Twitter and about 500,000 members on subReddit. With its exchange platform ShibaSwap, its move into the Metaverse, and the launch of its own DAO, it has remained afloat, although the price is still low. Also, without the support of Jeff Bezos, it will take a while for the token to reach 1 cent.
Is Shiba Inu A Good Investment?
Investing in Shiba Inu could be profitable, but you must do your due diligence. It is wise for you to only invest what you plan to lose and spread your investment portfolio. Also, you have to recognize that meme coins come with high risks.
Shiba Inu is built as a layer-2 solution on Ethereum which means it lacks its own native blockchain that allows users to build decentralized applications and other DeFi projects.
Recently, Shiba Inu progressed as a payment method, with about 40,000 merchants accepting it for payments, including AMC. However, it still fails to differentiate itself from other cryptocurrencies because it has no utility value.