Macro strategist Michael Gayed drew sharp attention from the crypto community with a crude remark about Shiba Inu (SHIB), responding to a post from analytics outlet TXMC. TXMC had pointed out that for SHIB to reach $1, its market capitalization would have to exceed the entire global dollar money supply, effectively mocking retail investors' old hopes for the meme coin.
Gayed's comment—comparing trading SHIB to a bodily function—was more than just offensive humor. It reflects his broader macroeconomic thesis on the ongoing crypto collapse, which he describes as the second phase of a global liquidity crisis. According to Gayed, the decline in digital assets is directly tied to the reversal of the carry trade as central banks withdraw cheap credit. Major market participants are initially liquidating speculative positions, with bonds hit first, crypto now in turmoil, and equities likely next.
Gayed spares no criticism even for Bitcoin, arguing that it has completely failed as a defensive asset. In his view, Bitcoin protects no one and is merely elevated risk wrapped in a compelling narrative designed to attract capital. As of mid-June 2026, SHIB continues its prolonged slide alongside the broader market, trading with five zeros after the decimal point. This price action, Gayed suggests, validates the thesis that without constant speculative liquidity, fundamentally valueless coins quickly lose ground.
