Let Us Learn and Earn with them SHIB token BurnsI've been thinking and wanted to jot it down, on how things can end up with SHIB. I have a little story before we get into it, about how SHIB moves could be similar to how I saw the rise in DOGE. In 2018 I purchased around a couple thousand coins of DOGE at around 0.002. I eventually sold out my coins, made a little bit, and didn't think too much of it. Fast forward to 2021, there was a ton of PR around DOGE. News outlets were covering it. Influencers and Celebrities were all over it, pumping the coin up. Even billionaires were buying into it. What got me about it was that people that are not even in the crypto space or do anything with the markets, were talking about it. I had one person tell me how he had a large position in the coin and he was not going to sell. But another person that I knew, he had done no trading what so ever, said he was in DOGE trading it. At that point I knew that it was close to DOGE having a significant drop. Additionally, with SHIB having an extraordinary rise, random people started coming up to me asking if I had any SHIB positions.
This could possibly happen with SHIB again. There is a consistent amount of PR, but until it hits the mainstream like DOGE or how BTC and ETH did in 2017, there might be some movement but not as much as when the hype is there. Fundamentals can move the markets but not as much as people's feelings. At currently lvls, market cap is around 6.073 million, if SHIBarium does burn 5 trillion coins per month and pushes the total amount to 289 trillion total coins in the market (in 5 years), that would make price 0.000021.
It'll take another wave to push price higher or further burns (if SHIB total supply drops below hundreds of trillions to single digit trillions) to drop a few more zeros. Price could hit the $0.01 lvl or even the $1 as people have been talking about, but again, it would take burns along with more people pushing into the coin. With a lot of negative things going on surround promoting alt coins, there might be less influencers, celebrities, billionaires, sports players, and so on, wanting to put their name out there.
There is a lot of work going into developing SHIB. Most notably SHIBarium. SHIB started off on Uniswap with very little value. The coin started gaining traction and is trading on exchanges such as Kucoin, Webull, Binance, Robinhood, Coinbase. I think SHIB has a future and as long as there is constantly moves forwards, ensures the utility of the token, the SHIBArmy strengthens and keeps growing strong, and a steady stream of PR, this coin will hit $0.01 in 2030.
These are my own thoughts. Do your own due diligence when deciding to trade. Trading carries a lot of risk where you could lose more then you put in. This is for educational purposes and not investment or financial advise. I do have positions in SHIB.
Y'all have some good trading out there.
