SHIBA JUST FLIPPED DOGE
Congratulations because you would be up on your investment, a pretty significant amount in a very short period of time in this video were going to be going over everything you need to know about this crypto. Now my last updated video. We didnt really do too much of a deep dive in terms of the utility, the functions, the global payment structure. They have the road map and even some of their burn mechanisms that they have taken into place. I wanted to focus on that a bit more in this episode and truth be told, i want to give shiba inu holders a fair chance in their perspective of at least seeing this coin. Go to the moon, so stay tuned ive been doing a ton of research for the past few hours with my team and bringing you some up to date. Information on everything you need to know with regards to this crypto and whether or not shiba inu may continue to still go up in the next few days or you should expect to pull out your investment because maybe we get another dump like we experienced happen with Doge last year, if you want all the answers to that and whether or not you should continue to consider buying in or maybe this is the time to sell, make sure you watch this video all the way till the end. And if you guys appreciate this type of content and value on youtube completely for free, do me a favor and drop a like down below now with all that being said, oh lets get into this video all right, so shiba inu in the last 24 hours went Up about 69 um, and no, that is not a joke, that its just a crazy world we live in.
So if shiba inu had dogecoins market cap of 31.3 billion dollars, one sheba would still be worth less at point: zero, zero, zero, zero, six, three or a downside of twenty three percent. Shiba inu has overtaken dogecoins market cap by twenty three percent now scrolling down. We can see these what, if situations on what would happen if shiba inu reached certain market caps of different types of cryptos? Now, if shiba yunu even approached the crypto market cap of bitcoin, we could still see a 26x upside. If it approached ethereum, we could see a 10x upside going down finance coin, thats 86 upside and i think more realistically. This could possibly happen if we continue to see traction and that is shiba inu, reaching the market potential of cardano, which would give it another 52 increase now realistically, this should give you a better idea on how much farther a cryptocurrency like shiba inu could go, and If im being real, i do think we are approaching very close to the top. Not only have we just flipped dogecoin in its previous market cap, but it is getting very close in terms of how much more upside you could really make, even if it went to the top three four or five position in terms of largest market caps on the Crypto exchange, so for me personally, if i was holding any additional shiba inu positions, just knowing the size of the market cap its currently at and the limited upside potential of how much further it can go compared to this cryptocurrency dumping, i would still treat it as A gamble in this situation, just understanding what we saw happen with dogecoin one of the most important things to do as an investor in the crypto market is to never get too greedy.
In a situation like this anytime, you see other people trying to buy in near the top, often times. That is a good indicator that you are near it before. It starts to take a tumble. Now i hope that is not the case. I do wish the best for shiva and i do hope that they knock out a couple more zeros. That would be absolutely fantastic, but at the same time i want people to be able to hold their bag, make their money and find themselves being profitable. At the end of the day now, regardless we have been seeing some amazing action and if you do plan on going very long term with this crypto, a lot of analysts are indicating a higher upside, at least from the time being. Right now, now, with all that in mind, the question that comes up is how much more room do we have to go so to get a better idea of what shiba inu could do, especially after flipping dogecoin. We have to take a look at the tokenomics to understand how much further potential we got now originally before we didnt mention too much about the total supply that actually got burned before in the past, but that is definitely a very important part of the entire story. So originally, if you just take a look at what you call the wolf paper and see that they had one quadrillion amount of shiba inu in their total supply, you might think thats a lot of crypto tokens.
Now ether scan is actually going to go ahead and show us some pretty interesting data over here about 41 of the shiba inu token holders is underneath this interesting aspect. This black hole right here – and this is indicating vitalik, buterin or ethereums co founder, who went ahead and burned a lot of shiba inu before in the past, so ethereum co, founder vitalik, went ahead and burned 90 of his shiba inu holdings, an amount of 6.7 billion Dollars the trove of more than 410 trillion tokens was sent to a dead blockchain address late on sunday, taking them out of circulation. He stated ive decided to burn 90 of the remaining shiba tokens in my wallet. The remaining 10 will be sent to a not yet decided charity with similar values to a crypto relief, preventing large scale loss of life, but with a more long term orientation. He said in a note attached to another transaction at the same time. Now, with that in mind, it really does change the story, especially if we know how much of the supply got cut in half now. In addition to that, we can actually see a pie chart right here of other exchanges that have different positions in this cryptocurrency scrolling down. We can see that even crypto.com over here owns about 4.5 of the total circulating supply. We have binance over here and some other unknown wallets, which im sure would be either coinbase or another branch of binance, because they have many different international jurisdictions, and i do believe that seven percent of the pie chart right here belong to a vitalik buterin as well.
Now whats interesting is shiba. Inus market value grew so much that it now rivals the entire stock market value of the trading platform, robin hood, which is not currently listing shiba inu. At the moment. This is really important to note just because many people are not happy about this, and robin hood did come out with a recent tweet stating they are not interested in listing shiba inu and in response we actually got this petition with over 370 000 people that have Signed im gon na have this petition also linked down below in the description. If you do want to help the cause now from a creator standpoint, i really dont understand why robin hood would not consider shiba inu before robin hood went ahead and released their detailed financial statements for the recent ipo that had happened this past year. We actually saw a drastic amount of information coming out that they made a majority of their money coming from crypto and most specifically dogecoin. Now, yesterday, on tuesday wall street analysts peppered robin hood executives on a conference call as well with questions as to when the company considers listing additional cryptocurrencies onto their platforms according to a transcript, they quote were hearing from customers that they want more coins at the cfo Of robin hood, jason warnick, and he also said during the earning conference, call were being you know very mindful and diligent in this space, its evolving from a regulatory perspective, theres been a number of questions raised about coins on other platforms being potentially unregistered securities.
He added, we think its the right thing, not just for shareholders and for the company, but also for customers to make sure that we, you know, apply the same kind of diligence to any new coins. We do hear our customers and they want more features, so were going to be working. You know as fast as we can with the right balance of safety and compliance to make sure that we dont make missteps here. So, even without the power of robin hoods listing where it accounts for a majority of newer investors getting into crypto, especially with the way we saw dogecoin sort of be a gateway as well in the past summer. This is really going to be huge. If we ever do see robin hood say: okay, you can also add a shiba inu and buy trade and sell on our platform as well. Now, with that being said, a large part of shiba inus success is gon na just come down to simple economics, its going to be the demand from the insane community that its been building up, in addition to the deflationary aspect of the coin burns that theyve been Mentioning now, if you are new to crypto and you dont know, coin burns are thats completely okay, because i can explain it in about 30 seconds here. So coinpedia.org states that coin burns is a process of intentionally burning or eliminating the coins, rendering them to be unusable. Coinburn also means sending the crypto coins to such a public address where private keys are unknown or unobtainable, hence making the coins sent on that address, unusable or inaccessible.
Basically, this is done by transferring a portion of coins to an eater address. This is often referred to as a black hole, because no one can obtain the private keys to that address. Hence the coins sent to an eater address are unrecoverable and can never be used again. So heres extra proof of what we revealed earlier in this video of the black hole and the tokenomics and the blockchain data will not deny that now, because shiba has been expanding so much their utility and different verticals within their ecosystem. I actually had to go online and find another article to dispel exactly what is going on with the current burn mechanisms as well so scrolling down this medium article under woofable tokens. I actually found some additional data regarding to how theyre burning more tokens they state here. Weve implemented other burns with many more on the wave, so we decided to make the 25 000 shiba burn and 25 000 leash burn optional, but still highly recommended. All you have to know is that the shiba inu token also plays a role into the cooperation with leash and bone as well, and youre gon na need to pick up shiba in order to get one of these tokens in order to do something else with their Ecosystem now that includes buying some additional art, some nfts or even some merch that they have listed. So the reason why these burn rates are so important is just because you can only stretch the market cap so much theres.
Only so much going into crypto at the current moment before youre gon na have to do something else with the supply in order to raise the price that is going to be increasing the amount of burns possible and were seeing them being more creative with this. But at the same time, at the rate theyre going and the billions of dollars in this crypto asset right now, it is not really doing too much damage to the entire token price. With that being said, the question is: can sheba still really hit? One sense: can it go past that can we see a future where the utility, the community, really takes us to the next level and does what doge actually failed to try now to be more realistic about shiba inu and whether or not can actually hit one price Youd have to realize that shiba inu itself would have to constitute a market cap of well over four trillion dollars, and if we were to reference what bitcoin is at its currently north of just one trillion with that being said, i also never would have expected shiba Inu to be outperforming the top 10 cryptocurrencies by at least 70, where most of them are in the red today in an article from cnbc earlier today, they also state it. All. Coins, like sheba, are primarily community based, meaning their success is largely dependent on the success and growth of its community instead of its utility. Now, after doing further research, i do think there is more of a utility aspect to what we assumed was an initial meme coin that came out as a joke.
The community aspect is still amazing, too, and even based on that change.org petition, seeing at least 370 000 people signing up to at least get this token listed on an exchange is absolutely tremendous. Now general word of advice before investing into any cryptocurrency. In case we got any new beginners here its important to know what youre investing in and the associated risks around it and not just the hype. The big question is: would shiba inu survive without the current hype? That is existing right now? Could sheba inu continue to make solid gains throughout the seasons if we didnt see the amount of momentum it currently had? I personally dont know the answer to that, but i want to bank on the fact that the cryptocurrencies that are still going down, unlike sheep, are going to stand the test of time regardless. If we are in a bull market, bear market, or we still do the hoppity kangaroo make sure to do your own research, dont yolo, your entire life savings and my go to motto: is time in the market is going to outbeat timing, the market? This means, if you are confident in your investment, you know why you have put your positions in there. Stick to it and weather the storms. The cryptocurrency space is going to continue to grow, especially with the amount of etf approvals were seeing some more ongoing regulation. That is consistently getting battled in the white house and up on federal hill, and in addition to that, i just think the innovative time is going to come from the life changing events of nft market web 3 and really a lot of cryptocurrencies associated with that.
Now, let me know how you guys feel about the state of the market as well. We forgot to do a code word in yesterdays video thats, going to be a book comment down below book. If you guys are watching this all day till the end. Thank you. All so much, and if you did appreciate this video dont forget to subscribe to this channel, we are on the road to a million subscribers. I cant believe were saying that that is absolutely crazy. If you guys want to join our community as well, we do have a patreon we can follow along. Like minded sheepholders and other crypto investors check that out in the description down below i opened up a ton of spots you guys can get in so its not sold out. So hopefully, by the time you check it out, you do get an opportunity to join down there. You can also get an idea of what my watch list is my portfolio and were actually doing a full 2.0 patreon upgrade, which im excited to do so, if you guys want to be a part of the community check us out down below as well now one More thing i do have some additional iphones that im giving away. If you guys want to enter the contest details, you can actually join it just by following me over on instagram credit brian. If you want to have a chance of winning, this iphone go ahead and follow me there and look at the comment section.
Pretty easy, just tag three friends like the photo and then ill be picking a winner this sunday evening as well. Thank you all so much again for watching this video.