Looking at MonaCoin’s history, it almost made its way to $17 during the 2017 crypto bubble. For them, there’s comfort in an investment that carries a relatively substantive price. However, there are plenty of people that fear such ridiculously low price tags. That way, the law of large numbers works in your favor. I get it - a lot of folks prefer buying meme coins priced at fractions of a fraction of a penny, just like SHIB. At time of writing, you can buy MONA for just a few pennies under $1.50. What makes MonaCoin “fundamentally” appealing - if I can even use such a term - is that unlike so many other meme coins, it’s priced at a normal rate. I’ve known about this extremely speculative coin for quite some time and yes, I’m kicking myself for not taking a shot at it earlier. Thus, if you’re looking for the next Shiba Inu, ELON surprisingly has strong support.Īpparently an open-source peer-to-peer payment network, MonaCoin has carried a cult following for years. Volume levels were also much higher than the early October rally, providing more confirmation.
During this time, acquisition volume increased with the price - exactly what you want to see.Įven more impressive, when ELON hit its most recent high on Oct. For instance, during the early October rally, as prices jumped forward, volume levels also increased, lending credibility to the rise.įollowing a sizable correction, Dogelon Mars bulls reloaded, setting up a mini-rally between Oct. Right off the bat, I noticed that with Dogelon Mars, the token’s price trends correlate with its volume dynamics. Therefore, I will judge Dogelon Mars strictly from the angle of the greater fool theory.įor those who are interested in the story backing ELON tokens - or any other cryptos - I encourage you to join their respective communities. While I’m sure all these meme coins are tied to a fundamental narrative or ideology, I’m going to look exclusively at the digital asset’s technical posture. I’m serious here - please don’t wager with money you can’t afford to lose. And since anyone can emulate blockchain functionality, you’re depending on the greater fool theory for returns. They’re not tied to anything except a blockchain technology that requires public consensus to operate.
Below are some highly speculative ideas to consider:īefore we dive in, let me reiterate that all cryptocurrencies are risky and speculative.
But again, the tradeoff is that you’re putting serious capital at risk.īy finding the next Shiba Inu, you could put in a relatively small figure and possibly generate huge returns. There is a caveat to that scenario: it’s more probable that Bitcoin will rise to $100,000 than it is some random junk coin will generate big returns. However, you could have made the same nominal profit putting $8,000 in SHIB between late September and early October.
However, the positive end is that mathematically speaking, the risk-reward narrative presently favors you.įor instance, if Bitcoin (CCC: BTC-USD) were to jump from $60,000 to $100,000, you’d need to put $60,000 at risk to make $40,000. By the time the panic has subsided, you could wake up to serious losses.Įven if you’re awake for the action, cryptos can be cruel. While you’re sleeping, your position could exponentially rise in value, only to come crashing down as early proponents take their profits. Imagine the next Shiba Inu is some obscure coin or token that few have ever heard of - except for a ravenous community on the other side of the globe. Previously, I considered this a positive aspect of the market due to its inclusive nature. Because virtual currencies are incredibly volatile, you could lose everything in a blink of an eye.įurthermore, cryptos never stop trading. To be completely and brutally honest, don’t bet money you can’t afford to lose on the next Shiba Inu - or any crypto, for that matter. While terrifyingly risky, it raises the obvious question: which meme coins could be the next Shiba Inu? Between early April and early May of this year, the price of SHIB tokens rose several hundred times higher. Perhaps no other alternative cryptocurrency has had more of an impact on the speculative digital asset markets than Shiba Inu (CCC: SHIB-USD).