Introduction.
Because cryptocurrency is currently the biggest thing there is, there are many crypto projects that spring up on a daily basis. However, not all of them will succeed at the end of the day. Most will fail while the rest will succeed with huge returns. As expected, identifying a good crypto project that would do well is a very difficult task.
Ahead of the fourth coming bull run, I have identified few deeps I suspect that will do very well and I have acquired as many as I can. Some of them may include; Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB) Cardano (ADA), Smog (SMOG), Green Bitcoin (GBTC), Bitcoin Minetrix (BTCMTX). However, my best pick is Shiba Inu.
Shiba Inu (SHIB)
About Shiba Inu.
Shiba Inu is a polarizing coin of meme, with a market cap of about $5.6billion.
Shiba was developed anonymously in August 2020 under the pseudonym of Ryoshi. Since after it's development, shiba have climbed to becoming one of the top 20 coins on the crypto market, this is despite the short period of time it have been around. Shiba is one of the top shit coins in the market today.
Moreso, Shiba Inu gained more value after Vitalik Buterin (the founder of Ethereum) burnt his Shiba supply. At that time, Ryoshi gave him 50% of the entire coin cache, saying that Shiba will do well as long as Buterin held on to the 50%.
Unfortunately, Buterin did not like that he was holding an important position of influence, and as a result, he burnt most of his stake and gave out the rest to charity. This caused a huge drop in the value of shiba. Fortunately, Shiba recovered and continued to do well because it is a decentralized Blockchain
Perhaps, shiba have have gone ahead to birth an entire metaverse. At the moment, the project is powered by NFT, because of the need to give utility.
Today, each Shiba is still worth a little fraction of a cent, this means that if you invest as small as $100 in Shiba, you will receive more than 96 million Shiba.
At the moment, there are about 580 million Shiba in circulation.
Tokenomics.
Token Supply:- The project owners employed deflationary model of tokenomics. Here, you born a portion of each transaction to reduce total supply overtime.
This scarcity created by burning of these tokens inturn helped add to the value of the remaining ones.
Community governance:- Holders of Shiba Inu are allowed to participate in decision making through voting. This model is known as decentralized model.
This community driven approach helps holders feel involved and have sense of ownership, which helps in growth of the ecosystem.
Distribution:- The initial distribution was skewed in line with liquid provisions and the incentives of the Shiba community. This helped to bootstrap liquidity and encourage early adoption.
Again, the transparent distribution of the Shiba tokens helped prevent ownership and manipulation because it is a decentralized system.
Potentials of Shiba Inu.
1. The meme culture:- The popularity of meme is one of the strongest advantages of Shiba. As such, it leveraged on it's playful branding and cute mascot to attract and win the audience. It's unique branding have have helped shiba gain recognition within the crypto space.
2. Expansion of the ecosystem:- Shiba is working on expanding its ecosystem beyond it's core token. It is achieving this with initiatives like; decentralized exchange, ShibaSwap and Shiboshi NFTs that encourages engagement amongst users.
3. Lower Barrier for Entry:- The low token price and high supply of Shiba makes it very accessible to a very wide range of people including those that want to invest just a little or fractional ownership.
Moreso, the lower entry attracts new users to the crypto space resulting to increased demand for Shiba.
Conclusion.
The unique tokenomics of Shiba Inu is one of it's greatest advantages which have helped it gain adoption and grow. Moreso, the easy and swift manner at which it aligns with the market trends helps attract investors that want high risk and higher rewards.
Moreso, during the last bull run, I witnessed Shiba do amazingly well, making many people millionaires.
Finally, as we approach the bull market, Shiba Inu is the project I think that has the biggest upside.
However, this is not a financial advice and as such, you are advised to make your own research before investment in Shiba Inu.
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