HomeSHIBA INU (SHIB)THE TRUTH! Spend a Penny, Earn a MILLION | Shiba Inu

THE TRUTH! Spend a Penny, Earn a MILLION | Shiba Inu



THE TRUTH! Spend a Penny, Earn a MILLION | Shiba Inu

Right now, we’re seeing Shiba Inu’s value skyrocket… Why? Well, it’s kind of like the perfect storm of events, all happening at the same time. For starters, one reason we’re seeing Shiba Inu’s huge leap is because of none other than the master memer and crypto fanatic himself, Elon Musk.

Shiba Inu already saw momentum, a growing community, and a significant price surge. But when Elon Musk tweets about something, it introduces and entirely new audience to the cryptocurrency.

All Elon had to do was Tweet a picture of a Shiba Inu dog and the price suddenly shot up.

Another theory on Coindesk paints a different picture. They think this value increase could have been prompted by large Shiba Inu holders (known as “whales”) who brought in millions just before the rally started.

The point is, it looks like a combination of factors all happening at the exact same time based on, not only the coin’s functionality, but also the promise of making as much money as possible with all the hype and excitement.

The question is: is it too late to buy Shiba Inu? Is the price unsustainable? Will it ever actually reach a penny? As of right now, there are less than 400,000 coins currently in circulation. That’s a little misleading, though, since ShibaSwap offers a system called “bury.” Much like how a dog buries its bones, you are able to take your coins out of circulation until you’re ready to use them again.

How would that affect the price, you may be asking?

Let’s say we had a perfect balance of supply and demand… one seller for every buyer. The price will remain perfectly stable because there’s nothing moving the price and or down. If half the people decided to bury their coins, we would now have twice the demand.

That’s basically what’s happening here… On top of that, their NFT project promises to take even MORE of the coin off the market. Whenever someone changes the name of one of the 10,000 “Shiboshi’s,” $100 worth of Shiba Inu would be burned. That means if EVERYONE names their Shiboshi’s, $1 million will be burned.

A “burn” of $1 million when the market cap is just over $8 billion equates to 0.000125%.

At the same time, the more people “bury” or “burn” their Shiba Inu, the lower the supply goes, meaning the higher the demand goes, meaning the higher the price goes. But this could also mean that the pressure becomes too much and supply increases yet again as people begin selling.

With all that said, the only way for Shiba Inu to reach 1 penny would be if 99% of it is removed from circulation. That will probably never happen, regardless of how hot the Shiba Inu coin is right now. There will be others just like it, however…

Since Dogecoin, there have been countless “copycats…” Baby Shiba Inu is one that just went up 600% in the last day; ShibaPup, which is up nearly 80%: and Flokinomics is one that just went up nearly 800%.

Point is, don’t underestimate Dogecoin and all of its counterparts, even if it all started out as just a joke. Because it’s a joke that’s made people rich.

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