My inspiration for writing about crypto was never to post charts and talk analysis. But I do watch them and try to learn, try to see what they tell us about where we’re at. Shiba Inu’s chart paints a clear picture. I first took a real hard look and bought in at $.000007, so I was in for the glorious rise that nearly ate 2 zeros while we all watched. It was a super fun couple of days and since then my position hasn’t really changed. I took a small percentage and moved to other projects, reaccumulating each dip with my mostly dollar-cost-averaging attitude towards investing. There were reasons for that pump, and Shib had climbed a long way before that, fueled mostly by exposure to new listings.
From watching Discord and digging on my own, I found the earliest investing success stories with Shib came from 4chan. Those early adopters went through the struggle of obtaining Shib on platforms least like Coinbase and held through what must have been serious doubt in a project that at the time seemed ludicrous, releasing all of the coins at once, and the various FUD that like Dogecoin, a huge percentage of the tokens are held in a small number of wallets (not true of Shib). By the time I found crypto, and Shiba Inu, it was known only as “The Dogecoin Killer,” the hot new meme-coin, and that was it. It was super cheap, and its future super unknown.
Fast forward to today, and zoom out to the daily chart, and you will see the arc of where we’re at. At first Shib was relatively unknown. New listings resulted in a rise in value. People went from finding out about us on 4chan and reddit to seeing us in the Coinbase top movers category. Users tweak the functionality of their chosen investing platforms to show the crypto that costs the least to obtain the most whole coins and there we were. For a long time, becoming a “Shibanaire” was very cheap. The rise of NFT’s in 2021 had everyone wondering when Shib would release theirs.
Shiba Inu is a truly decentralized experiment in community building. As Queenie reiterated in the Dec. 30 AMA, none of the original developers are still on the project.
NFT, the Shiboshis, “a collection of 10,000 exlusive Shiba Inu generated Non Fungible Tokens.”
Ryoshi was leant the money that provided for the original liquidity. The developers working on Shib now are all volunteers. The entire supply is live, no more will be added (only burned). There is no marketing budget. There is no one person calling the shots (the soon to be implemented Doggy DAO will have the community calling the shots). The community wanted NFT’s and the community wanted a massive burn. Going back to the daily chart, you can see when news of those events hit Discord. You can watch all 10,000 Shiboshis sell and be renamed. You can also watch the fomo live as the chart peaks out.
This is what irks me when I see on Twitter some crypto-bro claim with confidence that it will be years before we see any more zeros drop off from Shib’s rise in price. What is that information based off of, price action and technical analysis? No one can make that claim. In the words of Queenie, “Shib is an enigma.” As I write this the price of Shib sits around $.00003, but we’ve watched it consolidate down from $.00009. As the Shibarmy adopted their Shiboshis and paid to rename them, the price quickly and steadily rose, fueling the fomo of all those people that whether they admit it or not were watching and wondering if the vision is real. Is it trustworthy? Is there any vision beyond being a meme token? As it turns out, identifying Shiba Inu as a meme coin isn’t truthful at all. Doge and proponents of Doge all recite the origin story, “Doge was started as a joke.” Shib was not, Ryoshi wasn’t meming.
While it may have been an easy parallel to draw when Shib was released, a lot happened in crypto in 2021 that changed the face of crypto in general. One of those changes is the proliferation of Layer 2 scaling solutions such as Polygon, and standalone ecosystems functioning on the back of Eth. Whatever else Shib has been compared to, what crypto as a whole will come to see of Shib will look a lot more like Pancakeswap, Uniswap and Polygon than Doge.
These projects are all in the works and expected to release in the near future. Does that mean Shib reaches $.01, that may be the case, but it could be more. Go back and look at how $MATIC shot up and continues to do so as project after project integrates into their network. For those of us that have been watching closely, Shiba Inu has been a solid entity, devs listening to the user base, maintaining decentralization and continued development. All this is to say, this is where we’re at. The price has consolidated from $.00009 and other than market manipulation, which there is plenty of, there is zero reason for it to shoot up. And we shouldn’t want it to. What we want is for Shib to look like Polygon $MATIC in the charts. the price will go up, but we want it to increase with adoption due to use value. That can’t be rushed, it has to be proven over time, and if the crypto adoption rate is any indication as to how many projects will make it or fail, we want the devs to be thorough, we want to earn our place in the charts and have staying power.
Tinfoil D-Pad 