Welp it’s about that time of year again where the stock and crypto market booms. With it, we have gotten the new meme explosion. The rise of another Dog Coin.
SHIBA INUShiba Inu is a “cryptocurrency” similar to the likes of doge. Mainly because it’s named after the same breed of dog Dogecoin dog is. What a world I tell ya. That hasn’t stopped it from making people a lot of fucking money.
If you remember all the Doge hype, this is quite similar. Another damn dog coin that’s exploding. Now here’s where people have arguments. Is there any validity to this?There are a lot of different cryptocurrencies out there with different and varying uses. Is there actual value with this one? Or is it just a meme pump? For the most part, it seems like a meme pump, but there does appear to be some use.
For example, here is a collection of NFT’s you can purchase with SHIB. I’m not even going to get into NFT’s right now, that’s a whole new ballgame. Also, there are RUMORS at some point Tesla would accept SHIB. Is that probably false? Of course, but that would be pretty big for the validation of this crypto.The whole question of if it’s legit doesn’t matter to investors when it has made them A LOT of money. Just in October, it’s up about 600%. Impressive for a Dog coin. In the last year, the % is astronomical. One Shib holder put in 8k last August. That is now worth over 5 BILLION. That’s truly sickening, but it’s true. He just transferred out over 2.5 billion from the wallet the other day, congrats legend.
Will this new hot crypto crash and burn after the hype? I Mean it is already down almost 50% from its highs, but that is to be expected after that type of moon shot. The thing is this has a cult-like following so it is possible that it stays relevant.
It’s funny to see this type of stuff happen, it just gives you a look at what kind of world we live in now. Like if you told someone this type of stuff would happen back in 2000 they would laugh in your face. I guess it’s just cool to see how times have changed and how simulation-like our world has become. Regardless, meme on folks.
10K sports writer that specializes in Timberwolves content. Lover of pizza, disc golf and having the Timberwolves forever make me sad.