The Shiba Inu community has defended itself against criticism from Jordan Belfort after the Wolf of Wall Street hit out at memecoins in an interview with The Sun.
Belfort described tokens like SHIB, which is attempting to move away from the memecoin description due to its ecosystem expansion, as having “no value and use”. He added: “You hear crazy stories of people making millions and billions, but for every person like that there are 10,000 or 100,000 people getting their a*s handed to them in Shiba Inu.”
However, the now 1 million-strong ShibArmy, not one to remain quiet, has responded to Belfort’s claims.
ShibArmy Defends SHIB
In the initial aftermath of Belfort’s interview, members of the ShibArmy accused the Wolf of Wall Street of hypocrisy after he said that some memecoin creators should go to jail.
“Jordan, a convicted criminal tells others who should go to jail?” tweeted one Shiba account. Redditors on r/Shibainucoin held similar opinions. “Irony from a guy who punted worthless penny stocks to vulnerable punters,” posted one user.
Some SHIB users shared this post from Belfort in April 2021, in which he appears more positive about Shiba Inu.
Shiba Inu’s volunteer project lead Shytoshi Kusama offered a more constructive tone. “I'm sorry bro, but SHIB is NOT useless,” they tweeted. “Always open to discuss so you can see the vision. Until then, I look forward to proving you wrong on this one.”
Another Reddit user shared a similar sentiment. “There is some validity to what he's saying, RE: SQUID, he just isn't doing his research,” they said. “SHIB is going to shatter everyone's expectations once people finally start to learn about its full ecosystem.”
SHIB holders also pointed out that through the likes of NOWPayments, SHIB does have a use as its holders can make purchases with their tokens. Both Newegg and AMC will also implement SHIB payments next year.
[Image: Unsplash/Aditya Vyas]