You might hear about Shiba Inu and Doge creating millionaires, but have you heard ShibDoge?
Yes I know, the name is a combination of Doge and Shiba Inu. Their mission?
According to its website, its mission is;
ShibDoge, To create a community-driven token, created by Shiba & Dogecoin whales coming together for the greater good of both communities.
ShibDoge is a new hot meme token in the Ethereum chain. According to u.today, ShibDoge Is currently the Most Held Coin Among ETH Whales. Not sure if this is true, but if is, then you don’t want to miss the train. One of the hot meme coins before, the Shiba Inu created millionaires when it was pumped in late 2021. And I think ShibDoge will do the same.
For the record, the Ethereum blockchain has a lot of whale holders. Due to this, it will easily pump tokens prices when these whale started purchasing certain project.
Shibdoge currently trading on uniswap at $0.0000000000000001412 per token. According to Dexscreener the price of the token has risen 12.83% for the pass 24hours and the market cap currently at $27 Million and fully diluted market cap is at $59 Million. There are a lot of room to grow on this token.
According to their website and a quick check on etherscan, the project has already burn 54% of the token supply since launch. There are currently 24K holder and looks like it keeps going up.
The 10 biggest wallet holding ShibDoge is as below. As can be seen, burn wallet has 54% of the supply. However with the token 420 sextillion supply created during launch, a 54% burn means they still have at least 200 sextillion. That is a massive supply.
However, with their deflationary token which will have burn mechanism with every buy and sell, the supply will be reduced in no time.
There is also an anti whale mechanism which prevent any wallet to hold not more than 1% of the total supply. This can prevent a massive dump of the token from certain wallet.
Should You Buy This Token?
Absolutely!
But as a reminder, please do your due diligence before involving yourself to any cryptocurrency project.
Please buy with an amount you are comfortable loosing too. As we all know, Shiba Inu has created a lot of millionaire like the guy who retired when An $8k Investment In Meme Coin Shiba Inu Helped This Man Become a Millionaire At The Age Of 35. ShibDoge has the potential to do that too.
If you wanted to buy this token, you may use uniswap.org on Ethereum chain. Check out their website at https://www.realshibadoge.com/ to learn further on this project too.
With their NFT and fiat payment project, this token has a potential to grow big. And with $27 Million Market cap, there is a lot of room to grow.
With the whole crypto market down, now is the time to accumulate token with good project and prepare for the next bull market.
But of course, with any other investment, there will always be risk. As always, this is not a financial advice and please stay SAFU out there!
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