What's up gramids guys here so i'll admit, i was not planning on making this video, but after getting hundreds of comments, dms emails, letters and smoke signals asking for me to talk about the latest investment craze of shiba inu. I had to take a look for myself to see what was going on and i'll admit. I was impressed like if you thought, dogecoin was a well-performing investment for those that bought in early turning people into multi-millionaires in two months, shiva inu, just that weeks, while it quickly grew to a 12 billion dollar market cap and became the 12th largest cryptocurrency trading. For just 0.000023 cents, each and now headline after headline reads the exact same question: why is shiba inu skyrocketing? Is shiba inu the cryptocurrency? You should be watching shiba inu sees percent daily surge, shiba inu gains more ground, while dogecoin retreats will shiba inu, make you a millionaire and will shiba inu ever reach one penny.

So let's talk about exactly what's going on what it is, why it's going up in price so quickly what this means for you and what it would actually take for shiba inu to be worth one penny based on math. All of this and more on this episode of, why is everyone getting rich off this, except for me, but before we start i'll make you a deal since i don't own any shiba inu, i will invest five cents for every single, like this, video gets in the First, seven days, that means, if you just hit the like button, that's five cents more invested in shiba inu, just for fun and plus to show you i'm good for it. I'll give you proof in exactly a week to show you guys that every single like on this video does count. So thank you guys so much and also big.

Thank you to elon musk for sponsoring this video just kidding guys. There is no sponsor. Let's begin all right, so, even though shiba inu has a 10 month, roi of 590 000 no big deal believe it or not. It's still a relatively new cryptocurrency that was started back in august of 2020, just as its predecessor dogecoin, was beginning to gain momentum, see as a background.

Dogecoin was created in 2013 as a joke between its creators to make a fun light-hearted cryptocurrency that was not intimidating to use, and it was based around the shiba inu doge meme featuring this cute dog with comic sans thoughts popping up. It was never intended to have any real world purpose or value the developers never expected it to be anything, but over time it naturally gained a cult-like following and then in mid-2020s. The unthinkable happened shortly after the whole pandemic selling spree a viral challenge began. Gaining a lot of momentum on tick-tock called the dogecoin challenge.

It made the argument that the value of dogecoin is worthless, so if all 800 million users of tick tock each invested 25, they could drive up the value to a dollar and turn that 25 dollars into a 10 000 profit. Well sure enough, thanks to the virality of that video, the price of dogecoin did end up going up 43 in 24 hours and that potentially helped give light to a new breed of coin, aimed at barking up a new tree and putting dogecoin back in the doghouse. So introducing the one, the only shiba inu coin in august of 2020, they released their official white paper or, as they call it, the wolf paper detailing their intention to be the dogecoin killer. As he said, we have the ability to outpace the value of dogecoin exponentially without ever passing.

The one penny mark now, unlike dogecoin chipa enu, operates on the ethereum network, giving it massive scalability across the entire existing ecosystem and in a surprising twist, they gave 50 percent of the total supply to the ethereum founder of vitalik. Buterin is a show of good faith and intention with hopes of becoming a major disrupter in the market, alongside that, they also created, what's called shiba, swap which allows you to provide liquidity, buy and sell nfts and stake your tokens for a nominal return and in their White paper i mean wolf paper. They also detail their passion for the shiba inu breed with their teddy bear-like noses and swirly curled tails, and they note that a portion of amazon's smile purchases are redistributed to the shiba inu rescue association to help adorable shiba inus in need. As far as the numbers behind the coin are concerned, it's pretty straightforward, as they say, one quadrillion tokens were minted and half of that was sent over to vitalik buterin, who later donated one billion dollars of that to help fight, coveted india.

The remaining 90 of his holdings worth an estimated six billion dollars, were sent to an inactive blockchain address and taken out of circulation because he doesn't want the power that means left over. There were around 500 trillion shiba inu coins in existence throughout the last week. The price of those coins has been skyrocketing through the roof, so the obvious question now is why well, i would call it like the perfect storm of events all happening at the exact same time and the most notable comes from none other than the pumper himself elon Musk now, even though shiba inu had already seen some momentum, a growing community and a significant price search in may of 2021, as it was listed on binance in a few other major exchanges, when elon musk tweets about something it brings about an entirely new audience who Lingers on his every word for their latest investment advice and with one single picture with the caption floky frunk puppy, shiba inu was off like a rocket now, even though there was not technically any indication that this was specifically directed to the shiba inu coin, that didn't Matter because almost instantly it surged 400 and it sparked a retail frenzy of people believing that perhaps this might be the next dogecoin that gains mainstream popularity and acceptance and makes people wildly rich in the process. But another theory on coindesk has a slightly different take on things, and they say this rally could actually be prompted by large shiba inu holders known as whales who bought in millions of dollars right before the rally started.

This is also around the exact same time that the entire cryptocurrency market began moving higher with bitcoin surpassing 50 000. On the news the united states has no intention of banning cryptocurrency bank of america admits it's too large. To ignore and u.s bank launch is a new bitcoin custody service for institutional investors. In this case, a rising tide lifts all boats and shiba inu to some degree, was going to see that momentum, alongside with everything else, on top of that, a post by one of the shiba inu developers, announced the new nft project, which would include a token burning Mechanism that will continually lower the circulating supply of shiba inu and therefore potentially caused the price to go up higher.

So it seems as though a combination of factors all happening at the exact same time caused the price to go up, based on not only the token zone functionality, but also the promise of making as much money as possible with all the hype and excitement. But then, of course, the question becomes: is it too late to buy? Is the price unsustainable and can it ever actually reach a penny? That's a great question, then i'll pretend you asked me, even though i asked myself and now i will answer my own question. Well, to figure out how much it could be worth in the future and if it could ever reach one penny we'll need to work backwards. As of now, there are 400 trillion shiva coins currently in circulation.

However, that's a little bit misleading, because shiba swap offers a feature called bearing, which is just a canine way of saying staking. This is essentially where you temporarily, take your coins out of circulation and the longer you do that the more rewards you get, but, graham, how does that make the price go higher? Well, let me explain that in a really easy oversimplified example. Imagine we have a perfect balance of supply and demand where there's exactly one seller for every single buyer. In that case, the price is going to remain stable because there's no other force pushing the price up or down, but now, let's assume that half of those people decide to bury their coins and take them out of circulation.

In that case, if the buyer demands remains consistent well now we have twice as much demand as there is supply and, as you would expect, the price is going to rise accordingly. Well, that's kind of what's happening here on a much much smaller scale is people can decide to bury their coins now, in addition to that, with the announcement of their nft project, they introduced a new way to take even more of that supply off the market and, As they say, whenever the nft owner changes the name of one of the 10 000 shiboshi nfts, a hundred dollars worth of sheep will be burnt and if everyone names their shiboshis that'll, be a one million dollar burn. Although, personally, i would just not name your nft and that way you would hope that the value remains even higher to the next person who wants to put their name on it. But you know what that's none of my business now.

In all fairness, a one million dollar burn on an 8 billion dollar market cap only reduces the overall supply by 0.000125 percent. So it's barely a difference, but if more and more people bury their coins, that could, in theory, reduce circulation from the market and drive up the price if there's more demand. Although i also think it's important that we are realistic here, because naturally, the higher the price goes, the more selling pressure there's going to be from long-time holders who want to cash out with a life-changing amount of money and at its current market cap. If we're ever expected to see a penny, then either 99 of the circulating supply needs to be burned or significantly more people need to buy in and by significant i mean an unprecedented amount of money like assuming 350 trillion.

Shiba inu coins are in active circulation. One penny shiba inu, would give it a market capitalization of 3 trillion, 960 billion, 440 million, or basically that's more than 50 higher than the entire market capitalization of all cryptocurrencies combined. So i hate to be the bearer of bad news, but unless there's a major change to the functionality of this coin, that removes 99 of it from circulation. One penny shiba inu, is pretty much impossible for a very, very, very long time and personally, i think the aspect that seems very appealing to quite a lot of people is that it just seems inexpensive just from a marketing perspective.

It seems like a lot of people have the perception that it's a lot easier for something to go up in value from one penny to two pennies than it is to go from 100 to 200. Regardless of whether or not that's actually the case, it just gives the illusion that your money is going way further than it actually is, because all it has to do is go up a fraction of a penny and you're rich and not to mention a thousand dollars. Could literally buy you 39 million sheba's, it just sounds like a lot and if you want to be a sheba enu billionaire, well, that's only going to cost you 26 000, even though that's still a price of a honda, civic owning a billion of anything is impressive And that perception, in my opinion, is helping drive some of that momentum. Of course, just like i mentioned a rising tide lifts all boats, there's also no shortage of dogecoin and chibit.

You knew copycats coming up everywhere. For example, baby shiba inu is now a trending currency. Up 600 percent in the last day, and they say that they never forget that this project was born out of a genuine social purpose on a mission to save the world. Somehow we also have flokinomics up 833 in the last 24 hours, which doesn't seem to have any real purpose besides crafting a way for it to benefit the people who hold long enough for the price to go up.

Maybe, oh by the way, i'm also editing this video right now it's uh midnight and i found this one shivapop, that's up 78 point being there are going to be projects that pop up to take advantage of the momentum and at the core. That's really just what we're seeing there's no technical analysis or use case right now. That would justify these prices, except for the fact that maybe someone else is willing to pay more with the expectation of turning it around to somebody else who pays even more than that. Now i will say that, even though it's very easy to dismiss momentum as a speculative pump and dump as more time goes on, i think we really have to take social movement investing seriously, because the more awareness is raised.

The more mainstream adoption tends to follow like with dogecoin many people, including myself, underestimated just how powerful a strong community is and that's helped propel dogecoin into one of the largest cryptocurrencies in existence, even if it was started as a joke and then pumped by elon musk. On twitter, so i'm not going to be dismissive of shiba inucoin, simply because there is value and momentum and excitement. But it's also just as important to be made aware that usually the faster it could go up the faster it could also fall. And if you're also up a life-changing amount of money, there's no shame in taking some of the profit off the table now, obviously the price might continue to go up and the attention could lead to widespread adoption throughout other projects.

But sudden momentum like this gets me very anxious until it finds its footing. So take this all with a grain of salt and don't listen to me because i am dumb. I've also been very surprised with the past performance of dogecoin. So if there's one thing, i've learned it's not to underestimate the power of the shiba inu brand and, like i said just for fun, i will invest 5 cents for every single, like this video gets in the first week and then i'm gon na be holding it For a year so feel free to do your best like the video and then i will report back once that purchase is made.

So with that said, you guys thank you so much for watching. I really appreciate it as always make sure to subscribe, hit the notification bell feel free to add me on instagram and my second channel. The gram stefan show i post there every single day - i'm not posting here. So if you want to see a brand new video for me, every single day, then make sure to add yourself to that and then, lastly, if you want a completely free stock, that is now worth all the way up to a thousand dollars just use the link Down below in the description and use the code, graham, when you sign up for public and plus, i'm posting all of my own stock trades in there.

So if you want to be a part of it, use that link down below and sign up for the hungry bill 2 while you're at it, you may as well it's a new app that i just developed that tracks stocks and it has a daily newsletter. So again, lots of great stuff in the description. It's a lot so anyway, thank you guys so much for watching and until next time.