Once Musk made his appearance, the dog coin got the way and the shit coin rose to the sky.
On May 8, the digital currency called “SHIB” (also known as “shit coin”, “Shiba Inu coin” and “Erdogzi coin” by domestic users) entered the microblogging hot search. The digital currency called “SHIB” (also known as “Shitcoin”, “Shiba Inu Coin” and “Erdogzi Coin” by domestic users) entered the Weibo hot search and once overshadowed Dogcoin, and after Dogcoin, it landed on mainstream exchanges such as Firecoin and Coinan.
On both May 8 and 9, SHIB was the popular king who topped the number of transactions on the Firecoin platform.
The first time SHIB came out of the circle was on March 14 this year, the day Musk tweeted: “I’m getting a Shiba Inu”.
Shiba Inu is Shiba Inu, and perhaps by coincidence, there happens to be a digital currency named Shiba Inu coin.
The above-mentioned tweet immediately triggered a flurry of thoughts and caused the whole cryptocurrency circle to boil over.
In the past two or three months, SHIB (commonly known as SHIB) has increased by more than 10,000 times, becoming a “legend” after dogcoin. on May 11, under the market of most digital currencies going down, the price of SHIB remained firm, with the highest increase of more than 30%. As of 18:30 on May 11, SHIB was quoted at 0.00003454USDT (tail price of 3454) on the Firecoin Global Station.
Coin World – He’s worth over 100 million, I’m 500,000 in debt, we all buy “shitcoin”
In fact, both Dogcoin and SHIB are cottage coins derived from spoofing Bitcoin, and their initial value is infinitely close to about 0. They have been in the downstream of the cryptocurrency contempt chain, and even the founder of Dogcoin sold out long ago, not anticipating today’s surge.
How did SHIB change from a “joke” to a “legend”? Is its rise a flash in the pan or a long-term trend?
This article interviewed three cryptocurrency investors and practitioners: Tang Ying has many friends in the cryptocurrency circle, and also has friends who have accumulated hundreds of millions of dollars in assets by investing in BTC, and invested in SHIB because he saw that it could become the next dog coin; the post-70’s delivery man, Ping Tau, entered the cryptocurrency circle in 2017 and had a big loss of 500,000 yuan in debt by speculating in coins, and now expects to invest in “animal coins “The company’s top executive, Ciara Sun, analyzed the multiple factors behind the SHIB and dog coin fires, including Musk’s standing effect and the consensus of mass investor participation.
A large number of friends speculate in coins freely, I regret wiping out, and now hold billions of SHIB bo a hand
Tang Ying, a post-80s entrepreneur and investor
I now have billions of SHIBs in my hands.
At the beginning, I started to enter because a friend of mine said in the group that SHIB is the “new dog coin”, and I got excited when I heard it. Then the group of friends began to research, at that time the cost was still very low, at that time we did not buy much.
It wasn’t until the next day when it went up 4 times that we started buying one after another. I bought the tail price of 190, and later rose to about 1400, I opened another position, and now hold several billion coins, because SHIB is very cheap, in fact, only a total investment of several hundred thousand yuan.
A few hundred thousand for me is not much, the risk can afford, after all, I just experienced a wave of U.S. stocks surge and plunge.
I entered the U.S. stock market in January this year, buying all the blockchain concept stocks, the stock price rose to the highest point in February, Jia Nan $7 entry turned 5 times, Jiucheng stock price from the end of last year’s $2 approaching $90, my U.S. stock assets rose to nearly $ 1 million in a month. At that time, I felt particularly good and felt like a stock god.
Originally wanted to continue to do more, the results of the U.S. stocks soon collapsed, hundreds of thousands of dollars of profit is gone, I cashed out, deeply feel the U.S. stocks is a meat grinder, up and down is too exciting.
I don’t feel the pain of losing hundreds of thousands of dollars, but in the end, the three views are shaped by the RMB.
In fact, I came into contact with the cryptocurrency circle quite early, but I didn’t have much faith at the beginning. My friends around me were mining and speculating on coins, so I felt that if I didn’t buy some coins, I was a deviant and a fool, and I was embarrassed to chat with people.
Although I bought BTC early on, I didn’t hold it, and when the price was lowest I uninstalled the exchange and stopped playing, belonging to the coin leek.
Last year, when the price of BTC was 30,000 RMB, I was ready to start, just after downloading the exchange APP, I found that it had risen to 40,000 RMB, so I didn’t dare to start, and then it rose to 400,000 RMB, which I really didn’t expect.
There are also many friends around me who are free to speculate on coins. One previously started an advertising company, advocating libertarianism, and felt that decentralized bitcoin was very appetizing, so he had money to buy a mining machine to mine, and then added to his position at low prices, and later his BTC assets rose to several hundred million RMB, and now he has immigrated.
He is very low-key, few friends around him know that he speculates in coins. But he got rich I really convinced, because he is from the bottom of his heart have faith.
There are also friends who have lost their freedom of wealth. This friend bought several hundred million dog coins, when the price was less than a penny, has been held until the beginning of this year to realize, the earnings also have tens of millions, but missed the next wave of crazy rise, he later scolded Musk did not stand earlier.
I bought the dog coin in April, at that time more than 1 yuan, and then more than 3 yuan I added positions, and successively invested hundreds of thousands of yuan.
I bought the dog coin purely because Musk, he is doing the game, so let’s play together. I think Musk is very smart, BTC company to buy, dog coin to buy, he is very clear, those financial circle of the old aristocrats look down on the new Money, Musk has money, reputation and appeal, and his wealth accumulation is bright, he said everything is right, he in the cryptocurrency circle is considered a god.
My reason for buying SHIB is that I think SHIB has the potential to be another dogcoin.
Now that the price of dogcoin is too high, new leeks will wait and see, and the emergence of SHIB fills the gap. Moreover, SHIB, like dogcoin, is first on small exchanges, such as Matcha, and then on big exchanges, whetting the appetite. In addition, I think SHIB so cheap, the coin price after the decimal point a lot of 0, this eat 0 game people play very happy, 0 eat less and less, the price went up.
I’m afraid the small exchange is not very stable, I mentioned SHIB and dog coins to fire coin the day before yesterday, more stable.
Of course, although I’m ready to lose the worst plan, but I’m not a gambler, certainly not All-in shuttle. I have a friend, 5 years ago is the company small employees, monthly fixed investment BTC, the most rolled to 20 BTC, the results played a leverage collapsed, and now only 10 BTC left.
Now the billions of SHIB in hand, I am ready to put a three to five years, maybe it will rise a few thousand times?
The group of friends fried coins to earn 200 million, I owe hundreds of thousands of delivery, want to rely on “animal coins” to turn over
Flat head, post-70, delivery man
The dog coin and SHIB are so hot that even my delivery colleagues are asking me how to enter, and they used to laugh at me for trying to get rich by speculating on coins.
Unfortunately, although I have been in the circle for a short time and also bought SHIB on April 18, I didn’t make a lot of money overall, and I still owe more than 500,000 in debt after five years of speculation.
I entered the cryptocurrency circle in 2017. Before I do sales, this job is quite undignified, in front of the customer low do small, the other party may not buy, the base salary is also very little, only 2000 yuan, all rely on performance, so hungry January full January, the pressure is very anxious.
At that time, I heard that a customer was speculating in coins and made a lot of money, so I was also itching to get started.
Initially, I once earned more than 100,000 yuan, people drifted, always want a shuttle on the peak of life. I began to borrow money to smash, P2P, Alipay, microfinance, bank credit card, all borrowed a circle, then encountered a bear market, to 2019, I have owed more than 500,000.
In order to make ends meet, I started to deliver takeaways, only five or six thousand dollars a month, in addition to leaving some living expenses, all to pay off the debt.
The company’s main business is to provide a wide range of products and services to the market.
I’m not sure if I’m going to be able to get a good deal on this.
The company’s main business is to provide a wide range of products and services to the market.
So, even if people make 200 million, I’m convinced, I don’t have the vision, I don’t have the drive, I can’t keep up with the knowledge base, I don’t understand a lot of cryptocurrency terms, and I buy and sell coins by being bold.
I envy the new leek who recently made 100,000 yuan a day investing in dog coins, topping me two years of takeaway.
But regret is useless, to turn over must enter.
On April 18 this year, I saw someone in the group share an article saying that SHIB might be the next dog coin and might go up big, so I invested 2,000 yuan and bought SHIB.
A few days later, the value of the coin rose to 4500 yuan, then the dealer smashed the disk, and the value of the coin plummeted to more than 1000 yuan, I was a bit restless, and hurriedly cut my meat and changed my position to EOS and ETC, and rebounded to about 2300 yuan after changing my position.
On the evening of May 7, I saw that SHIB had risen again, so I immediately changed my position back. The next morning I went to the delivery, late delivery users said to give me a bad review, I feel that this single may be in vain, very depressed. A look at the SHIB, has earned more than 300 yuan, a single takeaway to earn four or five dollars, a little bit of joy, but also afraid to fall down again, rushed to sell.
As a result of the evening look, SHIB and up two or three times, really want to smoke themselves, if not sold in the morning, can earn more than 6,000 yuan, from April 18 to take a steady, can earn more than 10,000 money, the results were I tossed away.
I’m not afraid to borrow money to play with fire, in fact, my credit is bankrupt and I can’t borrow money.
The cryptocurrency world is amazing, it seems to be easy to make money, but in fact, that is all hindsight or God’s perspective, even Warren Buffett, Munger, these investment bigwigs are looking away, the real money is still very few, 100 investors, maybe only a sickle, the rest are leeks.
I now realize that it is very difficult for me to earn big money, no money, no pattern, no character and no knowledge.
But I will not leave the cryptocurrency circle, because by dry takeout, 500,000 foreign debt can not pay off.
The first few months I have been contradictory, sometimes I feel that the hard-earned money from running the takeaway, keeping the principal in the bag is the most important, a little wind can not hold the coin, earn a little and want to go, sometimes I feel that the big money for stability, I should have a chance to turn around with so little money.
Now, I’m ready to bet on a small one, the big dog (dog coin) and the second dog (SHIB) have risen to the sky, should other “animal coins” also fly? I bought some piggy coins, which have tripled; in addition, I am going to develop the habit of long-term fixed investment, even if I insist on investing five hundred and one thousand dollars a month, and wait for a few years, maybe it will turn around.
SHIB has become the number one popular coin, and it can’t be separated from Musk’s lead and retail investors’ consensus
Ciara Sun, Vice President of Global Business and Head of Asset Center at Firecoin
SHIB has become the most popular coin on the Firecoin platform recently.
On May 8, the day SHIB went live on Firecoin, the trading volume that day accounted for 5% of the site-wide trading volume and ranked fourth in the site-wide trading volume. By May 9, the site’s trading volume ranked second, accounting for 13% of the site’s trading volume. On both days, SHIBI was ranked the first in terms of transaction volume in the whole station.
There are three reasons why SHIB and dogcoin are so hot, I think.
First, both DOGE and SHIB are very grounded. Dogcoin was mainly based on entertainment and social attributes at the beginning of its creation. This gene has brought DOGE a huge spreading effect and formed a unique community culture, making it the crypto asset with the largest number of community members after Bitcoin. The community base is one of the important foundations that Dogcoin will create a miracle this year, and a digital asset like SHIB, which has a simple structure but is more decentralized, can spread quickly and can This is also reflected in the fact that SHIB, a digital asset with a simple but more decentralized structure, can spread quickly.
Secondly, the core reason for the rise of dogcoin this year is Musk’s shouting orders. Musk raised the flag and caused such a surge of followers, mainly because Musk had been the richest man in the world last year, has a stronger appeal and authority, and at the same time his way of carrying goods is very grounded, the effectiveness of the consensus is stronger, many people are not willing to just be onlookers outsiders. In addition, Musk’s move to endorse dog coins also fits the spirit of rebellion of some people against the elite’s mastery of the discourse in today’s era, which is more likely to cause a sense of resonance.
Thirdly, the rise of DOGE and SHIB is also related to the valuation base. Since digital assets can be measured to 8 decimal places behind the decimal point, DOGE and SHIB present a very cheap price when converted to fiat currency, which will be more attractive to the masses, especially retail investors.
In the early days, when SHIB and dogcoin were not out of the circle, they could not be traded on big exchanges and could only be traded on small trading platforms. Now that a large number of users have demand for trading, we will not turn a blind eye to it. Firecoin Global Station opened the trading of DOGE as early as April 2019, and opened the trading of SHIB on May 8 this year.
As far as I know, the process of spreading SHIB attracted a lot of new traders, both overseas and domestic, and it was the newbies in the cryptocurrency world who dominated the trading home stretch. Many cryptocurrency veterans instead did not participate in SHIB investments, and even if they did participate in trading, they rarely took the wave from the top to the bottom. The few investors who have been holding coins for a long time, initially participated with an entertainment mindset, and the amount invested was generally not very high.
I myself am a digital currency investor, having fixed BTC, ETH and HT, and bought dogcoin very early on. After entering the market, my faith in blockchain and bitcoin became stronger and stronger, and I joined Firecoin directly in 2017, which is considered truly All in blockchain.
However, I am not adventurous when it comes to investment. When selecting assets, I am cautious and conservative. Specifically, I will consider the basic situation of the project’s team members, contract audit, legal compliance, etc. Then I will also study the project’s economic model and business model design, and also understand the composition of the investment institution, etc. to select high-quality assets by integrating multiple aspects.
Overall, SHIBs have a large upside and downside with a high risk factor, and are not very suitable for traditional fundamental or technical analysis, so the primary principle is to grasp the risk and leave it in the bag.
For traders who intend to invest in SHIB, my only advice is to be sure to be clear about where your risk-taking threshold is, and never hold the illusion of getting rich overnight All in it. (Tang Ying and Pingtou are pseudonyms)
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/he-is-worth-over-100-million-i-am-500000-in-debt-to-deliver-we-both-buy-shit-coins/
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