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.
Shiba Inu Holders Endured Extreme Volatility
Lian suggested that the development pales in comparison to the long-term commitment shown by investors in established meme coins, such as Shiba Inu and Dogecoin.
Indeed, Shiba Inu holders have experienced extreme volatility over the years, ranging from massive price surges to significant drawdowns.
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.
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.