- David Gokhstein showed he is unwilling to dive into the Shiba Inu competitor THE Protocol, buying huge SHIB coins.
- THE Protocol emerged from a jibe by Ethereum founder Vitalik Buterin and is gaining traction as a potential SHIB-killer.
Last week, a tweet by Vitalik Buterin led to the birth and fast growth of THE Protocol, in competition to memecoin Shiba Inu (SHIB). However, some die-hard supporters of SHIB continue to back the crypto without any plans of switching their preferences to THE coin.
Prominent cryptocurrency influencer and the founder of Gokhshtein Media, David Gokhstein showed he is unwilling to dive into the Shiba Inu competitor. Instead, he doubled down on his support for the memecoin SHIB.
Expressing his undying support for Shiba Inu (SHIB), Gokhstein said that he would stick to the canine-themed cryptocurrency. Furthermore, he added that he has zero interest in the supposed SHIB killed “THE” coin. “I’m sticking with $SHIB — not interested in $THE at all,” he wrote. But this doesn’t mean that Mr. Gokhstein isn’t interested in any other memecoin in the market. In one of his other tweets, he writes:
Give me a meme token that has an actual roadmap, use-case and even a working product. I’m looking to throw $1,000 into something right now. Give me the next $SHIB.
Also, this is not the first time that Gokhstein has been publicly backing the SHIB cryptocurrency. In the past, the memecoin enthusiast has frequently shared his predictions for SHIB on Twitter. Earlier this month, Gokhstein said that Shiba Inu will have a parabolic rally in its next bull run. Before that, he had also expressed regret for not going all in Shiba Inu while investing in the memecoin. “When it came to meme tokens, I should have just [gone]all in on SHIB,” he said.
Launch of THE Protocol
Last week, Ethereum founder Vitalik Buterin took a jibe at new crypto projects stating that protocols often use THE to gain traction in the market. He jokingly said that someone should be creating a project named THE Protocol.
A few days later, an ERC20 protocol THE Protocol (THE) came into existence. Memecoin $THE came into existence by drawing a leaf from the Shiba Inu playbook and many talked about it as the next SHIB-killer.
THE Protocol also gifted Buterin 100 million THE memcoins or 10 percent of THE coins in circulation. Soon after the creation of THE, its value propelled by 1000 percent the next day. However, it has lost much of its value since then.
While the launch of THE Protocol as a SHIB-killer managed to stir up some momentary interest in the memecoin, Shiba Inu is holding strong. The Shiba Inu ecosystem has seen some interesting developments in recent times. Recently, Shiba Inu secured a second rank as a Web3 security leaderboard, after Polygon. On the other hand, Canada-based crypto payment gateway, FCFPay allows users to pay for their Netflix and Amazon subscriptions in SHIB crypto.