Shibu Inu

Shibu Inu - 69% increase


To whom it may concern,

 

I have invested about $120 into Shibu Inu as a high risk investment. I anticipated losing my investment and still waiting to see where the meme coin is headed. Some feel it is a waste of money and you may as well take your money and buy lottery tickets. Many others like myself bought in and now have a large amount of Shibu Inu. 

 

There are nearly One Quadrillion Shibu Inu tokens on the market which devalues the overall coin value solely looking at supply and demand. If the meme coin gains substantial adoption it may reach a penny but some say it may reach a $1. That would mean the market value would go up significantly. For example,  the market cap is currently $7.1B and to reach a value of $0.01 then the market cap would have to reach a value of approximately $4.9 Trillion which is an increase of 690 times the current market value just to reach a penny. I would say the odds are not too much in our favor unless you are holding for the long term. I am not going to compare $SHIB to other cryptocurrency but will note it is currently #28 for coin market cap, which does show signs of favor in the overall market.

 

After a tweet today by Elon Musk it appears to have influenced the market to increase the value of $SHIB by over 68%. Not sure how sustainable a tweet will be for keeping the price up, but this will allow people to FOMO into the market while others cash out of the markets to get some profits in the short term rise and fall. 

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Steve Brown
Steve Brown

Father, autism advocate, and passionate for crypto currency technologies.


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