Shiba Inu (SHIB) A Ticking Time Bomb 1 cent Realistic?
I know say what you want about Shiba Inu. It’s just another Dogecoin clone, there’s no value, it’s a meme token, or it’s a shitcoin. However, I can’t help but notice how Shiba Inu just looks like at some point in the future there’s going to be another parabolic price spike followed by a enormous retrace. Shiba Inu’s chart almost seems like a spontaneous stablecoin. Ever since the Coinbase listing Shiba Inu has been on my radar. Now possible talks of partnerships with Robinhood is circulating.
SHIB has been in a big horizontal pattern since June. From 0.00000610 as support to 0.00000900 as resistance. The point of control is where most the trading and selling occurred is at 0.00000791. I'd say getting in on SHIB below 0.00000600 is a good deal. Even after the Elon Musk flash crash in May Shiba Inu's price has remained pretty steady since then.
The community for Shiba Inu is very strong and has grown tremendously this year with over 900,000 Twitter followers under a year. The fact that there's a strong robust growing community is a good sign for the longevity of the ecosystem. Even more so Shiba Inu has it's own DEX Shibaswap with already $205 million Total Value Locked and they have there own NFT marketplace. Shiba Inu is establishing it's crypto roots in charity giving as well. $1 billion worth of Shiba Inu has been donated to an India Covid relief fund from Ethereum founder Vitalik Buterin earlier this year. Which makes this cryptocurrencies origins even that much more interesting.
Now the million dollar question everybody has been talking about... Can the price of Shiba Inu reach $0.01 cents? Is that really even possible with a total supply of 1,000,000,000,000,000 (1 Quadrillion) and a current circulating supply of 497,730,966,630,395 (497 Trillion) ? The short answer is NO.
However, Shiba Inu's price will be contingent on how much token burning will take place in the future. 50% of the supply has already been burned. If the token burning continues for Shiba Inu, the community continues to grow, the DeFi ecosystem continues to expand, partnerships expand, and there's a gradual reduction in supply then the possibility of $0.01 cents becomes more realistic. But for the meantime that isn't a price target I would consider or even shill out. Shiba Inu getting back above 0.00005000 is where I'd be looking at.
Keep Shiba Inu on your radar. This is a highly speculative cryptocurrency like all meme coins are and even most cryptocurrency. But Shiba Inu is developing to be a little more than a meme coin in my opinion. Time will tell.
Much Peace, Love, Health, and Wealth!
SHIB has been in a big horizontal pattern since June. From 0.00000610 as support to 0.00000900 as resistance. The point of control is where most the trading and selling occurred is at 0.00000791. I'd say getting in on SHIB below 0.00000600 is a good deal. Even after the Elon Musk flash crash in May Shiba Inu's price has remained pretty steady since then.
The community for Shiba Inu is very strong and has grown tremendously this year with over 900,000 Twitter followers under a year. The fact that there's a strong robust growing community is a good sign for the longevity of the ecosystem. Even more so Shiba Inu has it's own DEX Shibaswap with already $205 million Total Value Locked and they have there own NFT marketplace. Shiba Inu is establishing it's crypto roots in charity giving as well. $1 billion worth of Shiba Inu has been donated to an India Covid relief fund from Ethereum founder Vitalik Buterin earlier this year. Which makes this cryptocurrencies origins even that much more interesting.
Now the million dollar question everybody has been talking about... Can the price of Shiba Inu reach $0.01 cents? Is that really even possible with a total supply of 1,000,000,000,000,000 (1 Quadrillion) and a current circulating supply of 497,730,966,630,395 (497 Trillion) ? The short answer is NO.
However, Shiba Inu's price will be contingent on how much token burning will take place in the future. 50% of the supply has already been burned. If the token burning continues for Shiba Inu, the community continues to grow, the DeFi ecosystem continues to expand, partnerships expand, and there's a gradual reduction in supply then the possibility of $0.01 cents becomes more realistic. But for the meantime that isn't a price target I would consider or even shill out. Shiba Inu getting back above 0.00005000 is where I'd be looking at.
Keep Shiba Inu on your radar. This is a highly speculative cryptocurrency like all meme coins are and even most cryptocurrency. But Shiba Inu is developing to be a little more than a meme coin in my opinion. Time will tell.
Much Peace, Love, Health, and Wealth!
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