Shiba Inu isn’t about fundamental analysis,intrinsic value or common sense; it’s about transforming far-fetched memes into 10-fold fantasies. In other words, those who hold the SHIB token are convinced (praying) that it can rise to at least $0.01. SHIB is an emotional investment play based on faith and a shared sense of community as exemplified by the SHIB Army. Today, we’ll answer the question can you retire early with Shiba Inu?
The short answer is maybe. However, a lot of things have to fall into place and investors would have to hold billions of SHIB tokens to be able to retire Ferrari-rich.
Do You Believe?
Shiba Inu (SHIB -4.31%) may fail any traditional valuation test, as well as any common-sense test. It’s a cryptocurrency based on the friendly-face Shib Inu breed that isn’t backed by megabanks or a slew of billionaires. Nonetheless, it has an underdog (pardon the pun) allure that may entice risk-averse low-priced coin enthusiasts everywhere.
Shiba Inu’s current price is $0.00001034, so yeah, it’s pretty cheap. Which gives it plenty of room to grow.
There’s no denying those who HODL have had a difficult 2022 so far, with only the most ardent SHIB supporters enduring the volatility. Furthermore, investing in Shiba Inu is not a retirement plan in and of itself, and should only be a small part of a diversified, more comprehensive portfolio of cryptocurrency and other, less risky assets.
Shiba Inu, on the other hand, may be right up your alley if you’re willing to ignore charts and traditional analysts and embrace a crypto community with heart. In fact, the SHIB Army is the strongest aspect of this project.
Burning and Learning
While some skeptics may regard SHIB as a joke, the developers’ approach to educating new participants is far from amusing. The official Shiba Inu web portal is probably the best place to start for newcomers, where they can learn about the token’s history and read the white paper –cheekily called the Woof Paper – that explains how the Shib token was created and works.
There, you’ll discover that Shiba Inu began with a supply of one quadrillion tokens. This may appear to be a large number of SHIB coins, but keep in mind that they are currently worth slightly less than $0.000011 each. Shiba Inu founder “Ryoshi” burned nearly half of the existing SHIB tokens shortly after its inception, which is a good thing in the world of crypto because it keeps supply under control.
Indeed, the community takes pride in the burning of SHIB tokens. During the first week of September, it is estimated that 300 million tokens were burned, with the average daily burn rate reaching 23.67 million Shiba Inu tokens at one point that month.
After you’ve finished perusing the official portal, the next stop should be the official Shiba Inu blog, where the most recent events are reported. It should come as no surprise that there are SHIB burn updates on the blog, as well as postings that are almost ecstatic about the Shiba Inu ecosystem.
A strong bet on the metaverse
The Shiba Inu community, if anything, could make SHIB a worthwhile retirement investment. Despite the token’s underperformance in 2022 to date (after a moonshot rise in 2021), the Shiba Inu community is incredibly strong and growing on social media; the ecosystem’s official Twitter account has 3.5 million followers. That’s serious engagement that other crypto projects would kill for.
Both the official Twitter account and the blog are very enthusiastic about Shiba Inu’s connection to games and the metaverse. Shiba Eternity, a game with a Twitter following of nearly 10,000, has received a strong push to get community members involved.
And if your idea of the metaverse is still comprised of blocky, pixelated figures (think Roblox and Meta), we encourage you to visit the lovely Shiba Inu Metaverse Canyon, where earthy artwork is on display and visitors are invited to engage in virtual horseback riding, water skiing, and even a bit of spelunking if they so desire.
Could You Retire with a $1 SHIB token?
On crypto-focused social media, you may occasionally hear fans of low-priced coins fantasizing about bidding the price up to $1. Don’t be surprised if you hear this kind of talk about SHIB on occasion. We don’t want to crush any dreams here but feel it necessary to drop some knowledge: SHIB will never get near $1-but it does have the ability to reach $0.01-which would still make many holders really rich.
But it could be more than a fantasy. After all, who could have predicted in 2009 that Bitcoin would one day reach $69,000? This is not to say that Shiba Inu will ever have the clout or growth that Bitcoin has.
Still, if you want to join a friendly and always enthusiastic community of SHIB fans while also pursuing your retirement dreams with a worthwhile wager on an artsy metaverse build-out, consider putting a dog in the race with a small stash of Shiba Inu.
Shiba Inu started as a friendly meme coin, morphed into a “Dogecoin killer” and now has a thriving community, a Metaverse and the Shiba Eternity game, with more projects to come. But before you consider Shiba Inu, you should do your own research and weigh the risk versus reward. As always, never invest more than you can afford to lose.
What do you think of Shiba Inu? Let us know in the comments!
Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.