Continuing to grow with the increasing investor interest recently, Avalanche announced the Avalanche Bridge in July. A new token has been added to this bridge, which is used to transfer coins between the Avalanche network and the Ethereum network.
The following statements were included in the announcement made by Avalanche;
“Avalanche Bridge adds new tokens that can be transferred between Avalanche and Ethereum.
First, $SHIB !”
With the number of Shib owners approaching 1 million, this move from Avalanche was greatly appreciated.
Although Shib has upset its investors who invested in it later in terms of price, we observe that its popularity continues.
Although Avalanche Bridge has included Shib among the coins it supports, Emin Gür Sirer, the founder of AVAX, has not changed his ideas about Shib.
Responding to a follower’s question, Sirer said that he was not interested in Shib, saying it was not my style. Sirer added that Shib is of no use, as a meme coin, it just takes advantage of the momentum.
Stating that there are losers as well as winners in this type of coins, Sirer said, “While exactly half of the community makes money, the other half loses. This is not my style.” said.
SHIB is a memecoin. As such, it’s a pure momentum play — it has no use, so it’s a zero sum game. Exactly half the community (in dollar terms) will make money, while the other half loses. Not my cup of tea.
— Emin Gün Sirer🔺 (@el33th4xor) December 7, 2021
*Not Investment Advice.