Ok here is where in we are at with the class action suit against Shib.

Ok here is where in we are at with the class action suit against Shib. I am putting together a website now and we are interviewing law firms.

The problem with Shib is the owners knew there were too many coins from the start, so that is problematic for them right out of the gate;and now we see the whales buying all the Shib for lower prices than the people that got in before them, but the price stays flat or drops more; and it appears this may be by design.

So again Shib cannot go up, and in fact it is almost mathematically impossible with the amount of coins in circulation. The Shib owners whether they knew this or not have created a ponzi scheme, where only those with millions can win, or those at the top that got in first.

Now they have admitted there are to many coins in circulation and have put that job on the retail investor. What kind of scam is that?

I saw today in public, go look at their social media chat room and you will see sold Shib lost 53% today, sold Shib lost 50% today, sold shib lost 44% today and it has been going on for months. I have lost over half my investment and no matter how long I wait it will take years with this many coins in circulation to ever go back up.

They are using the economy as an excuse but that will not work for these youtubers that go from one coin to the next pumping them and then leaving the retailer with mass losses when they sold and bought the dip because they were the first to get in, and now they move to another one, and do it over and over again covering their bases by telling everyone oh you just have to look long term and just hold, while they are rich on the people's hard earned money. They should be investigated.

But the purpose of the lawsuit is to make the Shib owners take responsibility for burning the Shib that needs to be burnt now or they must refund all the losses to all the people.

Austin here said they were going to organize a mass burn and I told him how to do it easily and they did nothing. Make one main website where anyone can go to to donate Shib to be burned and that will be huge, and the owners from there need to step up with something innovative. Coin exchange, i.e. dump this batch and reissue under a new batch, same Shib currency just the proper tokens in circulation. I see no one working on this so I am.

Lastly, as I have said the Shib project over all is sound and an exciting one, but these issues are destroying its future and wrecking the retail investor everywhere, and if you do not care about that then you are just in it to fleece them out of their hard earned money only looking out for yourself.

Let's make it right for everyone..

Best wishes, author Stephen Paine