That man is richest whose pleasures are cheapest. — Henry David Thoreau
Among red hot cryptocurrencies, Shiba Inu is a cry ptocurrency superstar. In the past few days, Shiba Inu, which is much more than a cryptocurrency memecoin, has rapidly grown into a cryptocurrency sensation. In the past few days it has “erased one zero” in its extremely low price of ~$0.00002850. But as I write the numbers continue to raced upward. With trillions of Shiba Inu available, what has caused Shiba Inu’s value to skyrocket? Let’s take a look at the remarkable Shiba Inu cryptocurrency.
Remember: Cryptocurrency is considered a high risk investment.
This is my niece NuoNuo (pronounced “No No”) in southern China. She is a bright, energetic little girl who loves animals. Recently, NuoNuo decided to name her dog Shiba.
Modern day Shiba Inus are descended from an ancient Japanese hunting dog. Scientists believe the Shiba Inu dogs arrived in Japan as far back as 9000 years ago. The word Inu in the name Shiba Inu means dog in Japanese. And one translation of Shiba, in Shiba Inu, is brushwood. The Shiba Inu almost became extinct after World War Two due to the devastation of the war and a terrible outbreak of distemper. The Shiba Inu is one of the most popular native breed of dogs in Japan. But what about the Shib Inu crypto colossus?
Stop and consider this headline for a moment: Shiba Inu Gains Twenty-Seven Million Percent Year to Date.
When talking about Shiba Inu, it is difficult to escape the large numbers involved. Originally there were One Quadrillion Coins created. That is 1,000,000,000,000,000!!! Half of those coins were gifted to Vitalik Buterin, the co-founder of the Ethereum cryptocurrency. He donated half to a charity in India for its Covid relief and burned the rest.
To “burn” cryptocurrency, it is sent to a digital crypto wallet that has no key — essentially locking it away and taking it out of circulation. But don’t worry, there are still hundreds of trillions of Shib Inu coins available. For instance, last Friday a crypto “whale” — large holder of cryptocurrencies, spent over $43,000,000 to buy more than six trillion Shiba Inu crypto.
But why has there so much buzz about Shiba Inu recently? One reason is just a few days ago, the Shiba Inu crypto erased a zero from its price. That day, the Shiba Inu price rose from its lowest value of $0.00000827 to $0.00001500. That is a difficult concept to wrap the mind around. Shiba Inu’s price rose over 70% during the day. And the meteoric rise of Shiba Inu hasn’t ended there.
Unlike Dogecoin, Shiba Inu has its own DEX — Decentralized Exchange. A DEX allows peer-to-peer direct financial transactions to occur without a bank, broker or other financial go-betweens. This will allow Shiba Inu to have functionality far beyond its so-called memecoin status. It is true, when Elon Musk sends out a tweet, comments or shares a photo of his Shibu Inu puppy, the Shiba Inu, and Dogecoin crypto tokens do rise in price.
But one of the greatest functions Shiba Inu, and other cryptocurrencies, offers is — HOPE. Hope to millions of people who are shut out from traditional financial institutions. And with hope comes dreams of a brighter day ahead. There have been a myriad of posts on social media and millions of searches on Google for questions like: What if Shiba Inu’s price goes to one cent — a penny? But why wait for that event?
Another Reminder — Cryptocurrency investing carries risks. Learn about any investment before you act.
Imagine for a second if you took one hundred dollars right now and bought Shiba Inu crypto. You would own approximately 3,000,000 Shiba Inu tokens. The value is rising rapidly as I speak. Today Shiba Inu’s value went over $0.00003000. So if that becomes $0.0003000. Your $100 of Shiba Inu tokens is now worth $1,000. When the value of Shiba Inu crypto tokens grows to $0.0030000. Your $100 investment has grown to $10,000. Although it probably may never happen — Dare we dream what happens when the value of your Shiba Inu investment rises to $0.0300000?
That feeling you just received imagining that return on your investment is the reason why hundreds of millions of dollars worth of Shiba Inu crypto tokens are being traded every second of every day, around the world. Like any investment, buying cryptocurrency is a high risk investment. I am not advocating for or against you or anyone else investing in cryptocurrencies. But cryptocurrencies’ potential for financial change, both individually and globally, is the reason I wrote The Tao of Crypto. If you do trade in cryptocurrency, you have probably experienced that sensation of being part of the mass decision making process powered by the Tao of Crypto. Learn about the secret ancient code embedded within cryptocurrency. Today. See you in the crypo-sphere.