A key person associated with Shiba Inu (CRYPTO: SHIB) has launched a “war” on Fear, Uncertainty, and Doubt — or FUD — inspired by the legendary Chinese general Sun Tzu.
What Happened: Pseudonymous Twitter handle “Shytoshi Kusama,” who describe themselves as “Volunteer Project Lead of Shiba Inu” penned a blog recently titled “The Art of Crypto War.”
The blog broadly takes inspiration from Sun Tzu, famous for his treatise “The Art of War” written in the fifth century BC.
Shytoshi pointed out people watching SHIB have varying motives, some of which are less than friendly.
“Some want to hack you and take your tokens. Some want to scare you and cause you to dump so they can quietly amass more. Some want to short the token,” as per the post.
The pseudonymous author brought up an anti-FUD patrol in the post and noted that the biggest FUD the SHIB community has been dealing with “stems from the supply of Shib.”
See Also: How To Buy Shiba Inu (SHIB)
Shytoshi singled out the price-tracking website CoinMarketCapm owned by Changpeng Zhao-led Binance, in his piece.
“For each exchange, the authority on the amount of tokens has, and unfortunately remains for the time being, centralized outlets such as Coin Market Cap.”
“We have seen other errors take place on CMC’s website including putting the wrong contract address; essentially adding another token to ours.”
This was remedied by the intervention of SHIB’s “incredible defense breed,” as per Shytoshi. CoinMarketCap customer service gave different reasons for the switch ranging from a “glitch” to “api change on our part” — the latter was termed a lie by Shytoshi.
Other topics touched in the blog included supposed FUD, as surrounding listing on Robinhood Markets Inc (NASDAQ:HOOD).
Shytoshi pointed to coverage that appeared in Fortune and Decrypt that featured the platform’s Chief Operating Officer Christine Brown. In the interview, she indicated that Robinhood’s strategy was different from players “racing to list as many assets as possible right now.”
This was seen broadly as being a pointed finger in the direction of Coinbase Global Inc (NASDAQ:COIN), which has listed SHIB.
The blog went on to say that the Fortune article left out a key line from Brown’s quote in which she said, “We want to make sure that we’re working in assessing everything from a regulatory perspective really well.”
Shytoshi wrote the main thing Robinhood would like to ensure is 100% correct is supply, which if CMC had it wrong then they should “better GET IT RIGHT.”
The author also cited the example of another exchange, Kraken, which has been in news over SHIB listing, or rather failing to list the token after promising to do so.
“Kraken has been really nice and good to us on the team. They’re reached out and are still working on listing SHIB so lay off with the 1 star reviews please,” wrote Shytoshi.
Why It Matters: The “declaration of war” has received widespreading backing from the Shiba Inu community, fetching over 13,400 likes on Twitter, as of the time of writing.
As per the blog, the total supply in circulation is 590 trillion SHIB and, if 44 trillion burned amount is removed, then the number is 546 trillion SHIB while CoinMarketCap lists the circulating supply as 549 trillion.
Shytoshi addressed other matters, which they attributed to be FUD, such as that the entire supply of SHIB is controlled by eight whales and attributed it to poor CoinMarketCap data as well.
The reversals in the fortunes of Shiba Inu (CRYPTO: SHIB), and by extension the holders of the meme cryptocurrency, have been marked of late.
The self-described Dogecoin (CRYPTO: DOGE) killer has fallen 45.74% since touching an all-time high of $0.00008845 in late October.
At press time, the token traded 1.47% lower over 24 hours at $0.00004804, for the week it has fallen 7.34%.
Comparatively, DOGE fell 0.44% over 24 hours to $0.24 and has declined 9.44% over the last seven days.