Is Shiba Inu The Best Performing Crypto Of All Time? (3 Million Percent Return Crushes Bitcoin)
It's, the dog coin, that's risen above the rest in the pack and is nipping at the heels of the top doge shiba inu, the meme coin, that everyone thought was a joke has shot up in the range to surpass Projects with tens of millions in investments, sheba has asserted dominance over chain link, litecoin, algorithm and theta, just to name a few.
It shocked everyone, including me in this video. We're, going to break down what shiba inu is all about, and if it's worth your money, let's, get it welcome to bitboy crypto home of the bit squad, the largest and greatest crypto community of interests.
In all the interwebs, my name is ben every day on this channelise. I show you how to make money in crypto. If you like money and crypto, then make sure to hit that subscribe button in this video, we go to the dog pound and hang out with some shiba inus meme coins.
I rarely have ever put money into one and i never expect it to make a return. They're straight up gambling. They don't, have any real utility for everyday life, and the vast majority of them are built on contracts that have built-in rug, pull scam dynamics statement.
Meme coins are only worth as much as their meme status is just hype, but while coins like shiba, are only going to be a flash in the pan that doesn't mean you can't make money off of them. Today, the coins with the largest returns for the year are all meme.
Coins sounds like a no-brainer right. Well, there's, a little more to it than that. Shiba inu started this year as the brainchild of an anonymous person named ryoshi. It's, an ethereum-based token that follows the model of other coins like doge huge supply, low cost.
This is what makes meme coins so addicting to the crypto newbies. You can buy bags of the coins billions at a time for very little money, with the hope that they'll pump to a dollar more apiece. When sheba first came out, one ship cost one one trillionth of a dollar the max supply of the ship.
Token is one quadrillion tokens. Tokenomics of the scale are absurd. More on that later, for what it's worth the shiba inu creator has put a lot of effort into building the hype around their project. They launched around the time that doge was pumping and a flood of animal meme coins were being created.
Every single day it's worth noting that the dogecoin mascot is itself a sheba in you, so that's. A brilliant piece of marketing on the part of ryoshi combine that with an aggressive influencer campaign, some actual development on its own version of the dex called shiba swap and a way to rescue real life.
Shiba in you, dogs, and you got a dog that has some bark and bite, so the stage has been set for some serious hype and as the year of the dog coin is coming to an end. Sheba is pumping like crazy. It started when vitalik buterin became attached to the project when he was given billions of dollars worth of shiba for free.
He then gifted one billion dollars worth of ship that he was airdropped to pandemic relief efforts in india later vitalik burnt six billion worth of ship, stating that he didn't want that power soon. After that, coinbase of all places listed the ship token.
On their exchange, sheba started getting partnerships with legit projects like shopping.io. Several other large exchanges followed coinbase's, lead sheba, started, seeing consolidation at the eye-watering price of 8 millionths of a dollar, and then just this month after another pump has started for shib.
That has many headlines around the world today. Shiba inu is up almost 3 million per centum on the year. Everyone has got a little dog in them, so if you want to be in the best pack of the interwebs make sure to smash that like and subscribe button put you in the bit squad, which is your best place to get your crypto news and education on A daily basis, but back to the video here, how is this going to end up? Well folks, i hate to neuter your hopes.
Ushiba in you, getting to a dollar is impossible with its current supply. If ship were to flip bitcoin in market cap today, that would only make ship rise to two hundredths of a penny. That would be a 50x from where it is now.
If you want to get it to a dollar shiva in, you would have to have a market gap of 497.7 trillion dollars. That's more than the entire budget of the united states government by a factor of over a hundred.
But the real hair of the dog is that shiba inu is full of whale wallets. Over 82 per centum of ship tokens are held by the top 100 wallets. So that means that at any moment a sale of epic proportions could happen and all ship holders that weren't in the know would get sent to the pound with their bags very empty.
But what if there was another way? What, if sheba, could do some token burns like what vitalik did back in may? Well, there are rumors that some of those large wallets are planning on doing just that.
How much who knows some are even saying 90 of the total supply. When might that happen? Well, only the mysterious ryoshi knows current supply of shiba inu is 394 trillion. As of this recording so doing a burn of 354 trillion, tokens would leave 40 trillion, give or take a few ship that would put shibb on the same supply level as ecash, but still miles beyond doge, which has a supply of 131 billion.
The map for shiba is crazy, but so are the gains. Anonymous team ups, huge supplies, huge whale wallets, holding most of the supply and no real utility are all bad marks for this puppy. But you can't ignore that shiba inu has had the most development of any meme coin.
They have a dex liquidity, farming, nfts and more partnerships. By the day heck you can even buy shim on an atm. It's a crazy time in crypto, and it looks like sheba has, at the very least, made a name for itself that will put it into the crypto hiaccount.
That's. All i got be blessed boy out: [, Music, ],