Are you basing a potential Shiba Inu investment on the hope it will hit $0.01?
You’re not alone. For Shiba Inu to hit $0.01 it would mean a 111,000% increase on any SHIB you buy today. For example: you buy $1,000 of Shiba Inu today and have a portfolio worth $1.1 million when SHIB hits a $0.01 price.
Shiba Inu hitting $0.01 is one of the most popular topics on Reddit – but it’s backed by shaky statistics. It’s actually not likely to happen in your lifetime.
Which is why EverGrow is going viral in November with a robust plan to take the token to $0.01 potentially in the next decade.
Read more about EverGrow here: https://evergrowegc.com/
What market cap does Shiba Inu need to hit $0.01?
There are currently 590 trillion Shiba Inu tokens in circulation or being staked.
The price of a cryptocurrency can be worked out as follows: market cap / tokens in circulation=token price. For Shiba Inu to be worth $0.01 a quick reversal of this equation shows SHIB would need a market cap of $5.9 trillion.
That’s bigger than the market cap of Apple ($2.4 trillion), Saudi Aramco ($1.9 trillion) and Microsoft ($1.8 trillion) combined. Shiba Inu currently has a market cap of $5 billion.
Bitcoin managed to hit a market cap of $1 trillion for a brief period – but there are over 200 million Bitcoin wallets compared to around 1.2 million Shiba Inu wallets. So if not even Bitcoin with its size, influence and popularity can hold above $1 trillion it’s unlikely that Shiba Inu could hold $5.9 trillion in the foreseeable future.
What about burning Shiba Inu?
In theory, this could bring a price of $0.01 far quicker than by market cap.
If Shiba Inu destroyed 590.6 trillion tokens it would today have a price of $0.01. So far some 410 trillion tokens have been burned from supply – so surely Shiba Inu could double that easily?
Not so fast.
Vitalik Buterin burned 410.2 trillion tokens in May 2021 in one transaction. Today some 410.4 trillion Shiba Inu tokens are in the recognised burn addresses. Which means that investors have only managed to burn 0.02% of the total Shiba Inu supply in 18 months.
At this slow burn rate, it would take over 44,000 years to burn enough Shiba Inu until the price reaches $0.01.
EverGrow on track for $0.01 in next 20 years – it’s worth just $0.00000009
Read more about EverGrow here: https://evergrowegc.com/
EverGrow has burned through 2.5% of its original supply in the past 12 months. With the burn wallet already holding 53.32% of supply EverGrow is on track to hit a price of $0.01 in the next 20 years.
But something has just happened which could bring the date even closer.
EverGrow is a hyper-deflationary token which charges a 14% transaction tax. A 2% cut of this tax is used to burn EGC tokens – that’s how EverGrow burned so many tokens in the past year.
A further 2% of the tax is used to build EverGrow applications. The first of these – LunaSky NFT marketplace – launched in September with an announcement to send 100% of its revenue towards buying back and burning EverGrow.
An hourly burn of $500 worth of EverGrow began on November 9th. By the end of this month, around 0.3% of the EverGrow original supply is expected to have entered the burn wallet.
Added together, no other cryptocurrency is burning tokens as fast as EverGrow.
With a market cap of just $40 million in November and a strong roadmap that beats even the burn rate of Shiba Inu, EverGrow is gearing up to become a breakout crypto before the end of 2022. Anyone buying in now could enjoy a healthy increase to their portfolio even before the next bull market.Read more about EverGrow here: https://evergrowegc.com/
The post Shiba Inu unlikely to hit $0.01 in your lifetime – EverGrow can appeared first on Analytics Insight.
Shiba Inu: 5,000,000% value increase and a guarantee of 2021 repetition are…
- A good number of Shiba Inu long-term holders still held on to the token even though only 18% were in profit
- The increased involvement of investors with SHIB could play a vital role in how it performs in the next bull market
If you were a fervent follower of the market in 2021, then you would absolutely agree that the incredible rise of Shiba Inu [SHIB] was one of the most unforgettable highlights.
The memecoin, which hardly got any attention before then, made an impressive sprint that almost ran into a 5,000,000% value increase. However, the antics shown by the same token in 2022 were barely any close to the year discussed before. In fact, it was the complete opposite.
Read Shiba Inu’s [SHIB] Price Prediction 2023-2024
Regardless of SHIB’s condition, the holders have remained true to it. According to IntoTheBlock, 54% of the holders in the last year still owned cryptocurrency.
This fraction was surprisingly spectacular, with only a few top cryptos like Bitcoin [BTC] and Ethereum [ETH] beating it. Additionally, only 18% of the total holders were still in profit.
So, what has propelled long-term holders to remain at such an apex?
Accept the token, ignite the metaverse
One aspect that Shiba Inu has thrived in is its use case for payments. For a while, several businesses have adopted the meme coin as a means of settlement and remittance. Just in October, Google Cloud opened its doors to the meme for the same reason. In turn, you would expect that there should be an increase in Shiba Inu users.
In other quarters, ETH whales have ensured that SHIB remained at the top of their holdings. Even though these whales had sold off some holdings, they still held a massive amount. At press time, WhaleStats reported that SHIB holdings by these investors were up to $68 million.
🐳 The top 5000 #ETH whales are hodling
Whale leaderboard 👇https://t.co/kOhHps8XBB pic.twitter.com/coHedRMdEj
— WhaleStats (tracking crypto whales) (@WhaleStats) November 28, 2022
This activity implied that Ethereum whales seemed to be bullish on the cryptocurrency in the long term. Besides this interest, Shiba Inu expanded its wings by “creating lands” in the metaverse.
At the time of this writing, Shib The Metaverse had created more than three separate concepts for the project. This same involvement in virtual reality earned it an invite to the World Economic Forum (WEF).
Despite a meager 0.97 correlation with BTC, SHIB employed its token burn as a strategy to keep the ecosystem alive. This plan of action enabled holders of the token to exclude some tokens from circulation while earning passive income.
At press time, Shibburn showed that the burn rate had increased by 4497% in the last 24 hours. This implied that the SHIB community held the burn activity in high regard.
When the bulls return, SHIB will…
Although the burn rate was a bid to reduce supply and increase its value, the latter had rarely happened as SHIB exchanged hands at $0.000009 according to Santiment.
This value represented a 1.36% decrease in the last 24 hours. However, the volume surged 83.96% to $236.51 million. This increase implied that many transactions had passed through the Shiba Inu network within the said period regardless of the profit or loss incurred.
On the downside, SHIB’s network growth had fallen to 1999 at the time of writing. As of 13 November, the network growth was as high as 9409. This current state inferred that there were fewer new addresses joining the Shiba Inu ship. With all of this happening, SHIB might not remain deeply affected by the bear market.
However, ruling the token out of active participation in the next bull season might be a costly mistake, considering the increased involvement with the ecosystem. Nevertheless, there was no guarantee of a 2021 repetition.
Burn Baby Burn! Shiba Inu-Ferno! Earn As The Market Burns With Shiba Inu, Pancakeswap And Dogeliens
The flames from FTX’s fall have not gone away. The blaze drives away many prospective investors. So how can this be the best time to get into the market, and earn passive income from your investments?
Everything is dirt cheap now! Black Friday came early for the crypto space this year. In this article, I will be looking at three cryptocurrencies that are either heavily discounted from the FTX crash – Shiba Inu (SHIB) and PancakeSwap (CAKE), or are still in pre-sale – Dogeliens (DOGET).
Shiba Inu: Through The Fire And The Flames
Shiba Inu (SHIB) sent Vitalik Buterin 50% of all Shiba Inu tokens at launch, to which he burned the majority. Burning means sending the tokens to a dead crypto wallet address, effectively removing them from the active supply. This sent the prices skyrocketing and gave investors dizzying gains of 14,044,998%. In order to keep the asset deflationary, and increase the value over time, there has been a token-burning mechanism introduced to reward long-term holders of the coin. Through using the ShibaSwap portal, holders can burn their tokens, and then will receive burntSHIB tokens. The APR of burntSHIB is currently 16%, which is a nice way to gain passive income. As the rest of the market is on fire, and the crypto market is burning after the FTX implosion, why not burn some Shiba Inu to get some gains in a chaotic market?
PancakeSwap: The CAKE Is Not A Lie
PancakeSwap is a decentralised exchange running on the BNB Smart Chain. Investors are able to earn passive income in a variety of different ways. They can stake CAKE, the native token of PancakeSwap in Syrup Pools, or stake Liquidity Provider tokens in Yield Farms. Liquidity Provider tokens are given every time a user buys CAKE. Though the exact rates vary with each Liquidity Pool, PancakeSwap can net investors extremely high interest rates like 50% APR, giving a return on investment incredibly quickly.
Also, as the exchange is decentralised, and uses DeFi, or decentralised finance, users do not have to worry about their funds being wiped out if an exchange were to crash, as it is all decentralised. Sweet.
Dogeliens: Passive Income? It’s Paws-ible!
Dogeliens (DOGET) is a new DeFi meme coin that has incredible potential. With Dogeliens you can net yourself passive income from just investing in the token. Every transaction with the native token DOGET has a 10% tax. 4% of this tax is redistributed to all holders, meaning that investors are rewarded with passive income from just holding the token. 3% is put into the charity wallet, where at the end of every month the community holds a vote on what charities to send the funds to. The remaining 3% is used for the development of the network. Not only will you be able to increase your initial investments from just holding the token, but you will also be able to have a positive impact on the world through the charitable donations Dogeliens will carry out every month. It’s a win-win!
These are three cryptocurrencies that have incredible potential to grow your investments through passive income. As the majority of the market sees red, buying in now when everything is discounted, and using these discounted tokens to generate additional funds for yourself would net you a huge profit. Don’t miss out on these amazing opportunities!
The post Burn Baby Burn! Shiba Inu-ferno! Earn As The Market Burns With Shiba Inu, Pancakeswap And Dogeliens appeared first on Analytics Insight.
Shiba Inu [SHIB] community gets metaverse invite; decoding the details
- The World Economic Forum had invited Shiba Inu to participate in discussions around the metaverse
- A look at the price chart showed that SHIB ticked, but not enough to spark a rally yet
Shibarium, the platform’s metaverse initiative, had been eagerly anticipated by the Shiba Inu community. Despite being granted Shiba Eternity, they have been made to wait for what seemed like an eternity to start their metaverse endeavor.
But the community was just informed of another metaverse project that Shiba Inu had been asked to work on. What is the nature of this specific project, and how did SHIB respond?
Metaverse… but not Shibarium
On 23 November, Shiba Inu’s lead developer Shytoshi Kusama tweeted that Shiba had been asked to work on several policies by the World Economic Forum. Shytoshi clarified that the project had received an invitation to work with the economic body on “MV global policy.” As he continued to say that Decentraland, Meta, and Sandbox were involved in this partnership, the MV would infer the metaverse.
The community will vote on whether or not to accept the offer. Over 18,000 votes had been cast as of the time of this writing, with more than 60% of the followers of the developer, who has over 850,000, voting in favor of accepting the offer.
Some key metrics
Recent data from Whalestats showed that 3.14% of SHIB was among the top Ethereum holders’ holdings. The holding is estimated at around $70 million. The holdings are another sign of significant investors in the project.
Additionally, according to data from CoinMarketCap, the market cap increased by more than 8% over the last 24 hours. However, the data also showed that the trading volume had decreased by 100% over the previous 24 hours.
Shiba’s active address over the past 30 days revealed that there had also been an increase. The Santiment metric revealed that there had been an increase in the number of active addresses. The figure was around 1,30,000, at the time of writing, up from the 80,000 range it was in late October.
However, based on the Market Value to Realized Value that was visible on Santiment, Shiba holders were holding at a loss.
According to Santiment data, holders who purchased the token within the last 30 days suffered a loss of 12.5%. Investors who purchased during this time frame would currently lose over 12% if they choose to sell.
SHIB price ticks
SHIB’s price responded favorably to this most recent news, as evidenced by a review of its daily timeframe price movement. It had increased by more than 2% over the trading time that could be seen.
It was also clear that it ended the preceding session with a gain of more than 4%. On the chart, SHIB’s price had been moving sideways, but the support line was visible around $0.000008. Additionally, it could be seen that it had broken through the support and descended before rising again.
Above the price movement of SHIB, the 50 (yellow line) and 200 (blue line) Moving Averages could be noticed. They also worked well as resistance at about $0.00001.
Although the inflection would indicate a potential advance toward the neutral line, the Relative Strength Index (RSI) line also indicated that the asset was on a bearish trend.
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