TL;DR Breakdown
• Jordan Belfort criticizes Shiba Inu as the token soars over 20 percent in price in one day.
• Belfort believes that altcoins like SHIB or Milf Coin have no real value.
Recently the “wolf of Wall Street,” a nickname that Jordan Belfort earned after stealing thousands of dollars in fraudulent stock sales, has given his opinion on cryptocurrencies memes calling them misleading. Belfort believes that Shiba Inu, one of the most recognized crypto-memes besides Dogecoin, does not have a real price.
The entrepreneur considers himself a cryptocurrency market enthusiast but does not support tokens with a system that loses money. Belfort reveals that within his career in the crypto market, he has heard a lot of crazy things from people trading SHIB.
Wall Street Wolf believes Shiba Inu is worthless
Jordan Belfort, better known as the Wolf of Wall Street, has given serious statements about Shiba Inu and its unreal value. Belfort said the token developers are only taking advantage of fans for rewards.
But the businessman who also considers himself a fan of Blockchain technology said that SHIB is a shitty token that only robs enthusiasts. Belfort has heard crazy stories from his colleagues who have invested in the meme token. Belfort closes his remarks by saying that Shiba Inu is not the best investment, so people should not use it.
SHIB is a cryptocurrency launched in 2020 with a protocol similar to Dogecoin, the original crypto-meme. SHIB offers fast and secure transactions and serves as a passive investment source for many enthusiasts. However, the crypto-meme has been going through a volatile market which makes its functionality questionable.
Belfort against cryptocurrencies meme
Shiba Inu or Dogecoin is the meme cryptocurrencies representing the decentralized market, but there are also tokens like Milf coin, which Belfort hates. The entrepreneur believes that people who created this token without remorse do not specify what risks people run when investing in the token. But Milf Coin has become illegal crypto for many exchanges.
Belfort insists that the people who create these tokens should be in prison because they are only affected by the virtual market.
Although Belfort criticizes Shiba Inu as an illegal cryptocurrency, the token has helped a couple of people, like a worker in a retail market who made a lot of money with these investments. SHIB has gained priority among Altcoins due to its volatility, which has also been criticized.
On the last day of November, SHIB is trading at $0.00004879, with a rise of 25.82 percent of its value in the last 24 hours. The cryptocurrency meme has maintained its bullish streak for more than a week, increasing 15.72 percent.
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