The crypto community has been buzzing after macro strategist Michael Gayed made a scathing remark about Shiba Inu, igniting widespread discussion. The debate flared up when data and analytics platform TXMC revived the age-old question among retail traders: “Can SHIB reach 1 dollar?”
Why is the 1 dollar target making headlines again?
TXMC explained that for Shiba Inu to reach 1 dollar, its market capitalization would need to surpass the entire global supply of US dollars. This calculation underlined just how far-fetched the target is from a mathematical standpoint, quickly grabbing the attention of the crypto market.
Shiba Inu, launched on the Ethereum network, is known as a meme coin propelled primarily by its community. The asset has made headlines before with sharp price surges, often powered by social media hype and booming risk appetite.
According to TXMC, for SHIB to hit 1 dollar, its market cap would have to exceed the world’s total dollar supply.
Michael Gayed fired back at this post with blunt and sarcastic language. Despite the backlash, his comments were in line with his longstanding skepticism toward speculative assets like SHIB, reinforcing his critical stance.
How does Gayed’s macro view impact crypto?
Earlier in June, Gayed labeled the decline in the crypto market as the “second phase” of a global liquidity squeeze. He argued that the downturn in digital assets is directly linked to the unwinding of carry trade positions.
Gayed believes that as central banks begin withdrawing cheap liquidity, major investors are first to close out riskier and more speculative trades. He explained that while bond markets felt the pressure first, cryptocurrencies are now undergoing a similar correction—and equities could be next.
Mini glossary: Carry trade refers to borrowing in a low-interest currency to invest in higher-yielding assets. When global liquidity tightens, unwinding these trades can create selling pressure on risky assets.
Criticism expands to Bitcoin
Gayed’s criticism goes well beyond meme coins. He also insists that Bitcoin has failed to serve as a defensive asset. In his eyes, BTC is not a protective safe haven, but rather a speculative investment vehicle wrapped in a compelling narrative.
In the second half of June 2026, SHIB continued its downward trend amid broader market weakness, trading at levels with five zeros after the decimal. This slump has revived concerns that assets without strong fundamentals can lose value rapidly in the absence of constant speculative capital inflows.
