Published: 2021-10-08
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Predictions from this Video
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The speaker will explain what it would take mathematically for Shiba Inu to reach one penny.
"And will Shibbainu ever reach one penny? So, let's talk about exactly what's going on, what it is, why it's going up in price so quickly, what this means for you, and what it would actually take for Sheba Enu to be worth one penny based on math."
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Shiba Inu's white paper (woof paper) states the intention to outpace Dogecoin's value exponentially, without surpassing the one penny mark.
"As he said, 'We have the ability to outpace the value of Dogecoin exponentially without ever passing the one penny mark.'"
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Shiba Inu's developers have a passion for the breed and a portion of Amazon Smile purchases will be redistributed to the Shiba Inu Rescue Association.
"And in their white paper, I mean Woof paper, they also detail their passion for the Sheba Enu breed with their teddy bear-l like noses and swirly curled tails. And they note that a portion of Amazon Smile purchases are redistributed to the Sheba Enu Rescue Association to help adorable Sheba Enus in need."
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Elon Musk's tweets have the power to attract a new audience to cryptocurrencies, as demonstrated by his 'Faky frunk puppy' post related to Shiba Inu.
"When Elon Musk tweets about something, it brings about an entirely new audience who lingers on his every word for their latest investment advice. And with one single picture with the caption, 'Faky frunk puppy, Shibba Enu is off like a rocket.'"
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A single picture post by Elon Musk, even without explicit mention of Shiba Inu coin, caused its price to surge 400%.
"Now, even though there was not technically any indication that this was specifically directed to the Sheba Enucoin, that didn't matter because almost instantly it surged 400%."
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Shiba Inu's price increase is attributed to a combination of factors, including its functionality, the promise of profit, and overall hype and excitement.
"So, it seems as though a combination of factors all happening at the exact same time caused the price to go up based on not only the token zone functionality, but also the promise of making as much money as possible with all the hype and excitement."
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To assess Shiba Inu's future value and potential to reach one penny, the speaker will work backward from the current 400 trillion coins in circulation.
"Well, to figure out how much it could be worth in the future and if it could ever reach one penny, we'll need to work backwards. As of now, there are 400 trillion Sheibba coins currently in circulation."
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A feature of the new NFT project is that naming a Shibothi NFT will burn $100 worth of SHIB, potentially leading to a $1 million burn if all 10,000 are named.
"And as they say, whenever the NFT owner changes the name of one of the 10,000 Shibothi NFTts, $100 worth of sheep will be burnt. And if everyone names their Shibothi's, that'll be a $1 million burn."
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It is highly unlikely for Shiba Inu to reach one penny in the foreseeable future unless a significant change removes 99% of its supply from circulation.
"So, I hate to be the bearer of bad news, but unless there's a major change to the functionality of this coin that removes 99% of it from circulation, one penny she enu is pretty much impossible for a very, very, very long time."
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The perception of Shiba Inu being inexpensive is a marketing advantage, making it seem easier for its value to increase from one penny to two pennies compared to a larger price jump.
"And personally, I think the aspect that seems very appealing to quite a lot of people is that it just seems inexpensive. Just from a marketing perspective, it seems like a lot of people have the perception that it's a lot easier for something to go up in value from one penny to two pennies than it is to go from $100 to $200."
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It would cost approximately $26,000 to own one billion Shiba Inu tokens.
"And if you want to be a Sheba Enu billionaire, well, that's only going to cost you $26,000."
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The perception of owning a large quantity, like a billion Dogecoin (even if it costs a significant amount), contributes to its momentum.
"Even though that's still a price of a Honda Civic, owning a billion of anything is impressive. And that perception, in my opinion, is helping drive some of that momentum."
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Baby Shiba Inu is experiencing significant growth (600% in one day) and claims to have a social purpose to save the world.
"For example, baby Sheba Enu is now a trending currency up 600% in the last day. And they say that they never forget that this project was born out of a genuine social purpose on a mission to save the world somehow."
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Fakynomics has seen substantial gains (833% in 24 hours) with an unclear purpose beyond potential price appreciation for holders.
"We also have Fakynomics up 833% in the last 24 hours, which doesn't seem to have any real purpose besides crafting a way for it to benefit the people who hold long enough for the price to go up, maybe."
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Sheb Pop has seen a 78% price increase.
"I'm also editing this video right now. It's uh midnight and I found this one. She pop that's up uh 78%."
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A strong community can be a powerful force, as demonstrated by Dogecoin's growth into a major cryptocurrency, despite its origins as a joke and subsequent promotion by Elon Musk.
"Like with Dogecoin, many people, including myself, underestimated just how powerful a strong community is. And that's helped propel Dogecoin into one of the largest cryptocurrencies in existence, even if it was started as a joke and then pumped by Elon Musk on Twitter."
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Rapid price increases in cryptocurrencies like Shiba Inu can also lead to rapid declines.
"But it's also just as important to be made aware that usually the faster it could go up, the faster it could also fall."
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The speaker acknowledges their own potential for error and advises caution, but emphasizes the importance of not underestimating the power of the Shiba Inu brand, citing surprise at Dogecoin's past performance.
"So, take this all with a grain of salt and don't listen to me because I am dumb. I've also been very surprised with the past performance of Dogecoin. So, if there's one thing I've learned, it's not to underestimate the power of the Sheba Enu brand."
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Social movement investing should be taken seriously, as increased awareness can lead to greater mainstream adoption.
"I think we really have to take social movement investing seriously because the more awareness is raised, the more mainstream adoption tends to follow."
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