SHIB (Shiba Inu coin) rose hundreds of times in January, what are the core elements needed for a 100 times coin?

These days a named “Shiba Inu coin” (SHIB), also commonly known as “shit coin”, a day rose more than 5 times, nearly a month rose about 300 times, in just two or three months time rose more than 10,000 times, it can be said that it is since the rise of DeFi after the great aunt (YFI) and then a veritable million times the coin.

SHIB (Shiba Inu coin) rose hundreds of times in January, what are the core elements needed for a 100 times coin?

In the past few days, a coin called “Shiba Inu Coin” (SHIB), also known as “Shit Coin”, has increased by more than 5 times in one day and 300 times in the past month, and has increased by more than 10,000 times in just two to three months, so it can be said that it is a real 10,000 times coin since the rise of DeFi It can be said that it is a veritable 10,000 times coin since the rise of DeFi, after the Great Aunt (YFI).

However, after researching it, the opinions of people in the circle are almost polarized: some say it is a bubble, others say it is a miracle. Regardless of how Shitcoin ended up, I see in its growth experience so far some basic characteristics of the breed of coins that become 100x or even 10,000x coins in the digital currency space.

Ryoshi, the founder of Shitcoin, is a long-time player in the community and has been passionate about finding a way to ensure that a project is launched and grows from scratch in a pure and unadulterated decentralized way through technical means. And to do that, the first thing to do is to do away with how the project initiator can secure and claim his own interest in that project.

Of all the digital currency projects to date, I’m afraid Bitcoin is the only one that has this quality: Satoshi Nakamoto founded Bitcoin, but did not make it his property, and as it grew, he left forever, even as the hundreds of thousands of Bitcoins sealed in his account have remained untouched forever as a shining point in the Bitcoin saga.

Satoshi Nakamoto’s creation of Bitcoin spawned an ecology that allowed miners, miner producers, hoarders, exchanges, and countless other players in this ecology to become wealth harvesters, without allowing themselves to harvest wealth.

That’s extreme decentralization.

I think in a way, Dogcoin also has this quality: its founder left the project early on and sold the existing dogcoins as well.

Ryoshi, the founder of Shitcoin, then launched the project: he issued 10 trillion SHIBs, and then he did two things.

First, he gave half of the 500 trillion to V-God. He expects V-God to continue the blockchain spirit left by Satoshi Nakamoto by sealing the 500 trillion coins forever without cashing them out.

At the current price of shitcoins, the 500 trillion coins that were worth nothing are now worth $7.9 billion.

We don’t know what V God will do with these coins, but if V God does seal them forever, it will undoubtedly push Shitcoin one step closer to a miracle, and push himself one step closer to the altar of God.

Next, he formed a transaction pair with 10 ETH and the remaining 500 trillion shitcoins, placed the transaction pair on Uniswap, and destroyed the private key of the wallet address where the transaction pair was deployed.

This means that.

One, no one (including the team itself) will ever be able to get this transaction pair back. No matter how much ETH is in this pair in the future, it will always belong to the entire SHIB community and not to any individual.

Second, everyone, including the entire SHIB team, must go to Uniswap and buy the coins themselves if they want to get them, starting from zero, and all participants are equal.

Since then, the SHIB saga has been fermenting: between its launch last August and January 30th of this year, its price was almost close to zero, and on January 30th, it slowly climbed to $0.0000000014 per coin. Then from January 30 to today’s $0.00001504, a rise of nearly 11,000 times in just over 3 months.

This is another social practice, a social practice that can fail at any time if you are not careful. But at least so far, all the people involved in this practice, especially V-God and the project’s founders, are maintaining its growth. It is still too early to conclude whether it will eventually succeed, so we will leave it to time to judge.

But from this miraculous history, I vaguely see bitcoin in the three elements that the founders of SHIB uphold: starting from scratch, equality of all beings, and community-driven.

I looked back at notable projects since the DeFi explosion last year and found that these factors were present in many successful projects. Among these factors, I particularly value “equality of all”. It means that the project belongs to the whole community, not just to the project team.

One of the most concrete manifestations of “equality of all” is the airdrop and Fair Launch: giving every enthusiast a fair chance to participate. Only then can the community be inspired and motivated to move the project forward. In this regard, Bitcoin and SHIB have done the best job.

Of course, today and you analyze SHIB, not to recommend you to buy, the current short time price increase is huge, the risk is also very big, I just analyze from the essence, this is the digital currency field 100 times the coin, 10,000 times the coin should have the core elements.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/shib-shiba-inu-coin-rose-hundreds-of-times-in-january-what-are-the-core-elements-needed-for-a-100-times-coin/
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