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Shytoshi Kusama, the mysterious lead developer associated with the Shiba Inu (CRYPTO: SHIB) project, gave a nod to the popular analyst’s view of not selling one’s cryptocurrencies despite the ongoing crash in prices.
Noted crypto influencer, Oscar Ramos, has thrown his weight behind analysts’ views on the recent crypto market crash.
What Happened: On Sunday, Oscar Ramos, a well-known cryptocurrency investor, voiced his opinion on the ongoing market downturn. “They really want your cheap crypto. Are you gonna sell to them?” he wrote, implying that the market drop could be a buying opportunity for some.
Kusama, the pseudonymous figure believed to be one of the co-founders of Shiba Inu shared the post on X.
This comes in the wake of the worst intraday decline for the risk-on sector in 2024, with major coins like Bitcoin and Ethereum experiencing significant drops.
Why It Matters: Kusama’s nod came in the wake of the worst intraday decline for the cryptocurrency sector in 2024, with major coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) crashing heavily Sunday night.
The cryptocurrency market mirrored the stock market’s rout, with sentiment nosediving on recession fears and escalating geopolitical tensions. Bitcoin hit an intraday low of $52,559, a level unseen since late February. Ethereum also recorded its steepest drop since December 2022, hitting an intraday bottom of $2,152.
Price Action: At the time of writing, SHIB was trading at $0.00001211, falling 15% in the last 24 hours, according to data from Benzinga Pro.
Photo by Dennis Diatel on Shutterstock
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
