thecryptobasic.com
Blockchain advisor Anndy Lian has criticized the growing hype around new meme-coin traders, arguing that long-term Shiba Inu holders deserve Nobel prizes.
In a recent tweet, Lian pushed back against a wave of social media praise directed at a trader who held a newly launched Solana meme coin through severe volatility.
He noted that the individual was being celebrated for showing “conviction” after holding a three-day-old token and suffering a $30,000 loss within just 24 hours.
Launched at an initial price of $0.000000000056 in August 2020, Shiba Inu climbed to an all-time high of $0.00008845 in October 2021. Ever since, the token has plummeted heavily, dropping 89.68% from its ATH to $0.000009122.
Meanwhile, amid the recent market downturn, Shiba Inu has plunged 5.47% over the past 24 hours to $0.000009122. It has posted a seven-day loss of 1.05%, a 13.94% decline over the past month, and a 56.4% drawdown this year alone.
Long-Term Shiba Inu Holders Deserve Nobel Awards
Although some traders liquidated their SHIB holdings, many others have remained resilient. As reported in May, over 1.17 million Shiba Inu holders had been holding SHIB for over a year, enduring significant volatility within this period.
In Lian’s view, true conviction is demonstrated by long-term investors who have held Shiba Inu through years of volatility, not by short-term speculators riding the overnight swings of newly minted Solana meme coins. He disclosed that he is among the investors who have held Shiba Inu for several years.
According to him, if enduring a $30,000 drawdown in 24 hours on a three-day-old Solana meme coin counts as conviction, then long-term Shiba Inu holders deserve Nobel prizes for enduring years of market swings.
He argues that recognition should go to Shiba Inu investors, who have weathered years of extreme volatility, rather than new traders who have only experienced a fraction of what the SHIB community has faced.