~ The Saloon ~ Crypto & Stocks ~

[xZx]

the great SHIBate!

there's a fierce battle on the SHIB board about the very remote possibility of it hitting a dime.

whooooo-doggy! lol

i'm a devil's advocate type.

my position is: "not likely at all, BUT anything can happen."

here's an example.

the SHIB circulation is 394,796,000,000,000

https://coin360.com/coin/shiba-inu-shib

this means when it traded at .0000065 the market cap was...

$2,566,174,000

let's say several billionaires, ten of them, were hoovering up SHIB at that level, how much could they buy?

wanna count up the weekly volume? that's tedious.

and it's beside the point.

let's assume they could buy ALL the supply at that level. it would cost each billionaire only...

$256,617,400

to grab up all the SHIB.

then they 1) let the run start, 2) robinhood lists it, it 3) climbs to .0001, then 4) onward to .001 -- a ridiculous market cap.

right?

but THEN the BIG announcement happens:

those 10 generous billionaires reveal they've (quietly) purchased a gigantic % of the SHIB! and are sending it to a dead wallet!!

their logic?

just like a "share buyback" in a stock, they can boost the value of the remaining SHIB they STILL hold by retiring MOST of the supply to the "treasury".

AND/OR maybe they get an equal amount of another token for the SHIB they destroy? think of it like preferred shares.

add to this the auto-burning done in the SHIB NFT exchange, etc, and it's all... possible.

to hit a dime? yeah. maybe even a buck.