Shiba Inu: What is it & what's all the fuzz about?
Most of you know by now that there is another doge-like crypto coin that follows the steps of doge. Not only Shiba Inu has gathered a lot of attention but in just 7 days it's up 2000%.
Aside from that, it has reached the 16 position on coinmarketcap something that once again shows the volume and its market cap. Thus Shiba Inu has proven that is no joke or it might start as a joke like doge but now it slowly transforming into something else.
Now before i start telling you more about shiba inu i want to let you know that up until today or yesterday i think, you could only buy this altcoin through uniswap. That means that you need to do an eth transaction of sorts and that is the reason eth passed the 4k barrier, you really have to thank Shiba Inu for that.
Now Shib is the first crypto released and created by Ryoshi who i don't we have a clue who exactly that guy/girl/group is. He may be a total scammer or the new hero who knows. Here is what they say about their token directly from their website
They characterize their token as the doge killer even though doge was the inspiration of the token. Now the 50% locked supply and 50% that was burned happened because they want to provide fair and complete distribution, where developers can’t dump tokens on the community in the future.
They also have a lot and different plans like 2 other tokens, leash and bone as well as the upcoming ShibaSwap which will contain everything.
Of course, they are trying to get into the nft space as well and from what they say they are in the process of gathering some artists and stuff so i bet we gonna see more in the coming weeks.
Now regarding Shib's price skyrocketing, i think the following factors have played a big role:
Elon somewhere mentioned that he wanted a shiba inu dog or something
Many people are thinking shiba inu as the next doge, thus they think they will get millionaires with 500$ -1000$
People like meme-like cryptos
Binance, crypto.com and other exchanges listed shiba inu or announced that they gonna list it.
All the above factors are leading to that huge pump we are witnessing. Now i really don't know the math to tell you how much money should be invested for the price of Shib to pump to 0.01$, 0,1$ and 1$ so if any of you can please do so and let me know in the comments.
I really can't give you any prediction about the coin nor i can urge you to buy it cause i literally have no clue of what is going to happen next. Doge was and is a meme coin with no "actual" value and a coin that doesn't solve any actual problem and yet here we are with doge reaching over 70 cents.
Have you bought any SHIB?
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soooo many hyped up shit coins of people chasing after millions it's literally going to eventually blow the F up in everyone's face just like 2017. That doesn't mean there isn't room for massive gains if you play your cards right. Pretty much every new project is going DeFi and NFT to jump on the hype and pump a crypto and it's starting to feel a little ridiculous if you ask me.
I mean sure if you have $100 or $1,000 to blow why not pick some up and ride the hype and 10x or better your money. 1,000,000,000,000,000 coins though? lol
i think that they can make it to 10x price but that would be due to the meme factor. Aside from that i see this as a better version of doge with the defi and shit but as i said, a better version of doge :P nothing more
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Another doge in the making. Getting in to make quick profit maybe a smart thing to do but I wouldn't touch it as it is bound to nose dive later on as there are no real case
true!
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A friend of mine bought 25,000,000 yesterday. I don't know how much it represents, maybe something around $500, but that's a lot of coin.
I'm not sure I would risk my money on that, but he has a lot, so let's try :')
i really hope that at least he will manage to earn something out of this!
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Yeah, I think he already withdrawn his initial fiat bet and still have half of his Shiba tokens