What Is The Shiba Inu’s True Circulating Supply?

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This week a controversy arose when people on Twitter started accusing Coin Market Cap of not keeping the Shiba Inu number up to date. A few days ago Coin Market Cap had a Circulating Supply figure, but suddenly they changed it to a much higher one:

People automatically got upset over this issue and started accusing Coin Market Cap of trying to manipulate the market. There are groups of people demanding that CMC put back the value of 394, which, according to them, is correct. What they don’t realize is that the current value shown in CMC is quite close to the correct value, since above we did the calculations with the CMC data and we realized that the data does indeed coincide.

Those who want CMC to change the value back to 394 are demanding that a value be displayed that is not correct. These people are hoping that with that value the price will go up and everyone will make a lot of money based on a lie. Also CMC does not have the power to change the value of a currency. They may be able to change the perception of an asset, but the current value is calculated using the actual number of existing SHIBs, something CMC has no control over.

Ideally, the Shiba team itself would have its own website with up-to-date information on the amount of currency in circulation, right? It’s your project, anyway. The truth is that they themselves do not know how much currency is circulating.

After the controversy over the circulating supply in Coin Market Cap began, the CEO .of Shiba Inu, Shytoshi Kusama, spoke through this post. In this writing we can find a series of inconsistencies that for me have become red flags about the Shiba project.

Basically what they tell me here is that Coin Market Cap made an estimate of the number of units in circulation and that they believed in that number, without question. But whose project is it? How is it possible that if I am the owner of a product someone else is going to come and tell me how much product I have left in stock and I am going to believe him without questioning?

This is one of the main reasons why I am convinced that Shiba is destined for failure. The lack of seriousness of the people running it, the lack of solid foundations, and the lack of practical use of Shiba beyond speculation are strong indicators that this project is a ticking time bomb.

In the same post the author stated the following:

In other words, since June they have known the value that was shown in Coin Market Cap and accepted it as valid. But nobody bothered to do the calculations? The division of the Market Cap between the unit price? How is it possible that the CEO of a project does not have the slightest idea about the supply of his product? How is it possible that the CEO of a project cannot verify that figure with a simple division?

If I were in charge of a project of this type, I would try to clarify this situation as soon as possible. What I would do is try to find a mechanism to show the amount of tokens in real time and thus avoid speculation. But the CEO of Shiba has only blamed CMC and asked them to verify their calculations.

Since the project administrator himself has no idea when the circulating supply of his project is, let’s try to find it on our own.