Since moving to New York, I've been really engaged with the crypto market. I ran a miner for bitcoin years ago, and since then the landscape has changed so much that I can barely recognize it. But thankfully I did see the $SHIB token get listed on Coinbase a few weeks back and I snapped some up just out of respect for the meme itself. Over the past few days the fluctuations have been pretty massive, but even during the 'dips' my investment is up at least 300% since September 18.
According to Bloomberg, the same token is now listing as the 13th biggest coin on the market, which is quite an improvement in the last few weeks. Here are a few more reasons to be bullish about this token as many in the Twitter-sphere are saying it could get to $.005 and beyond within the next few months. Just for comparison, yesterday during one of the dips you could still snatch them up for about 4 million tokens per $100. If the price does ever get to $.005 then that small investment would be worth $20,000.
Reason #1 - Robinhood
I opened up an account with Robinhood months ago when the whole $AMC fiasco was in full swing, and although I didn't make much of a profit there, I did happen to put some money into Ethereum and got out of that position with about a 50% bump. But for those of you that don't know, Robinhood is a phone-based app that allows easy investment into stocks and now, increasingly, crypto coins. There has been a petition to get the $SHIB token listed on Robinhood and rumor has it that might be happening very soon. The petition has more than 211k signatures as of this morning.
Reason #2 - Elon Musk & the Anonymous Whale
The relationship between Elon Musk's tweets and the rise and fall of crypto currencies is well understood at this point—see Dogecoin for more on that. On October 1, an anonymous whale decided to buy almost 6.3 trillion SHIB tokens in a span of two days. And just 2 days later, Musk tweeted a picture of his puppy, Floki. Since then $SHIB has surged past the likes of Litecoin and Avalanche’s AVAX to become the 12th-biggest cryptocurrency by market value.
Reason #3 - #PartnerSHIBs
One of the things that really turned me on about $SHIB in the first place was the web site, the whitepaper (of course it's called a 'woofpaper'), and the plan for the future of the three coins in that ecosystem ($SHIB, $BONE, and $LEASH). There is a lot going on in the background right now, and one of those things which was just announced is a partnership with Now Payments. These are the kind of B2B relationships that can really create value over time, which is one of the reasons I am very long-term bullish on coins like Algorand and $XRP. But right now $SHIB has the momentum and that can mean everything.