Michael Gayed, CFA, reacted to a TXMC analysis that revived retail hopes of Shiba Inu ($SHIB) reaching a $1 price, a target that would require the meme coin’s market capitalization to surpass the entire global dollar money supply.
TXMC’s $1 Projection and Gayed’s Response
TXMC argued that achieving a $1 price for SHIB would inflate its market value beyond all dollars in circulation worldwide. Gayed dismissed the notion, likening the act of trading Shiba Inu to a basic physiological need, and underscored the absurdity of the $1 ambition.
Gayed’s Macro Outlook on the Crypto Collapse
Earlier in June, Gayed described the ongoing crypto downturn as the second phase of a broader global liquidity crisis. He linked the decline of digital assets to the reversal of the carry trade, noting that central banks are withdrawing cheap credit from the system.
According to Gayed, major market participants liquidate speculative positions first, which explains why bonds suffered before crypto and why equities may follow next. He concluded that Bitcoin, the flagship crypto, has completely failed to sustain its value amid this environment.
Implications for Investors
Investors should treat SHIB’s $1 target as unrealistic, given the required market cap exceeds global dollar supply. Gayed’s analysis suggests that blockchain assets remain vulnerable while the broader liquidity crunch reshapes price dynamics across crypto, bond, and stock markets.