u.today 
Borderline offensive humor from a well-known macro strategist drew the attention of the crypto community as Michael Gayed commented on a post by analytics outlet TXMC, whose authors recalled old hopes among retail investors to see Shiba Inu ($SHIB) reach $1.
TXMC noted that for this target to be reached, the meme coin's market capitalization would have to exceed the entire global dollar money supply. In response, Gayed bluntly fired back at the meme coin, comparing trading the asset to his own natural physiological needs.
Gayed's macro outlook on the crypto collapse
Despite the crude form of the reply, Gayed's position fully reflects his macroeconomic view of the industry. Earlier in June, the analyst described in detail the mechanics of the current collapse in the cryptocurrency market, which he considers the second phase of a global liquidity crisis.
I remember while I was taking a giant morning $SHIB. https://t.co/VoRKJ1jjbM
— Michael A. Gayed, CFA (@leadlagreport) June 19, 2026
According to the expert, the decline in digital assets is directly connected to the reversal of the carry trade. When central banks withdraw cheap credit from the system, major market participants are the first to liquidate speculative positions. That is why Gayed believes bonds were hit first, crypto is going through that phase now, and the stock market is next in line.
In his analysis, Gayed makes no exception even for the market's flagship asset. According to him, Bitcoin has completely failed in its role as a defensive asset, and the expert openly argues that BTC protects no one and is simply elevated risk wrapped in an attractive story designed to draw in capital.
As of the second decade of June 2026, $SHIB continues its prolonged decline alongside the broader market. The coin is trading with five zeros after the decimal point, confirming the skeptics' thesis that without a constant inflow of speculative liquidity, such coins with no fundamental value quickly lose ground.
