The SHIB (Shiba Inu Token) was created as an Ethereum Blockchain alternative to DogeCoin – i.e.: a coin with no immediate real-world use.
Over the last year or so, the coin has appreciated by millions of percent, currently trading at 0.00007260. Less than a year ago it was trading at 0.000000000010 or less.
You do the math.
The darn thing has made some folks millionaires and there is at least one account with multiple billions of dollars of the coin in it.
Its market cap exceeds 35 BILLION.
All for a coin that has no immediate functional use.
You’d think that, like early 2021 MEME stocks, it would eventually drop back down to earth and disappear.
But what if there’s a bull case to be made for it to move higher?
Lets do some math…
The maximum number of coins that can be issued is 1 QUADRILLION – that is 1 followed by 15 zeros.
There are 7.7 BILLION people on earth.
If all the coins were issued and given to each person in equal amounts, everyone on the planet get around 129870 coins.
At the current market price the cost to each person would be slightly less than 10 bucks.
Over the next 20 years, do you think that everyone might be able to scrounge up 10 bucks?
Now, if, because the coin is so plentiful, it actually becomes a medium for exchange, what do you think that it might the cost everyone on earth to get their 129870 coins? 100 bucks? 500 bucks? 1000 bucks?
Hopefully you can see where I’m going with this….
Sure, it’s outlandish. But in the world of crypto, nothing is so outlandish as to not be in the realm of possibility.
So there’s your completely off-your-rocker bull case. Maybe you should pick up 10 bucks worth of this thing today and just park it in a corner. Who knows where it’ll be in 20 years.
PS: Vitalik Buterin, Ethereum’s co-founder/developer was gifted half of all SHIB by the creator of SHIB and has allegedly burned 410 TRILLION of the coins (i.e.: permanently removed them from circulation and made inaccessible to anyone). Meaning that the cost of everyone acquiring an equal share of all coins is far less than 10 bucks.