Shiba Inu.

hey everyone meet kevin here in this

video we're going to talk about crypto

and

she did i invest in shiba inu if i did

why did i invest what's my strategy how

much should i invest what the heck is

going on kevin all right folks look

bitcoins up over eight percent of the

last 24 hours we're up over 30

in the last week alone in crypto this is

no surprise because about two weeks ago

i sold all of my cryptocurrency i sold

my cardano my ethereum and my bitcoin

actually was probably at this point

almost three weeks ago but i'm not

exactly sure anyway i sold it right as

the evergrand crisis was starting to

brew that's because even though china

has banned financial transactions in

cryptocurrencies in china i know there

are a lot of hodlers in china and when

there's financial pain in china i know

that cryptocurrency is going to go down

so i was able to lower my cost basis and

all of the cryptos i was investing in by

about 10

add more into the cryptocurrencies that

i was investing in bitcoin ethereum

cardano rebalance a little bit and now

i'm more exposed to crypto at a lower

cost basis than i was before this was

just me trading though obviously trades

could have gone the opposite direction

now i traded to lower my cost basis but

just because i had sold and then

re-bought doesn't mean i've lost any

faith in crypto even though i think

there are potential issues outstanding

stable coins being won i was the first

youtube channel to make a video about

the potential risk factors of stable

coins all the way back in january of

this year uh first time we really

started looking at stable coins is wait

a minute there could be a real potential

debt issue here of course we can always

compare that to the financial markets

and see lots of debt there as well or

china but anyway

i believe and strongly believe this that

2022 is going to be the year of crypto

just take a look at some of the things

that just happened this week on monday

bank of america published cryptocurrency

and digital asset focused research

stating quote the digital asset universe

is too large to ignore on tuesday us

bancorp stated they had launched a quote

cryptocurrency custody service for

institutional investment managers who

have private funds in the u.s and cayman

islands that's where the rich people are

or at least that's where their money is

on tuesday gary gensler said he has no

plans to ban cryptocurrency a ban would

be up to congress which that's not going

to happen because that's not what the

people want not necessarily suggesting

that congress literally does what the

people want congress is not so but

anyway

we'll save that for a different video

and uh at the same time as we're saying

stocks fall due to fears over higher

rates and longer lasting inflation more

persistent inflation i still think

inflation is going to go down i still

think inflation inflecting down at some

point in the future whether it's next

months two months from now or six months

from now or a year from now is going to

be a short-term negative catalyst for

crypto right now it's a positive

catalyst for crypto especially with a

debt ceiling debate although crypto went

up after the debt ceiling got raised

which was also kind of interesting uh i

guess it just potentially signifies more

uh open-ended borrowing but anyway

you also uh had uh people like jim

cramer who paper-handed crypto back at

29 000 when bitcoin was at 29 000 just a

few months ago now say that the way

janet yellen talks about the us dollar

is basically a reason to buy crypto

alone because maybe bitcoin is worth

more than the u.s dollar but anyway

uh you've also

this goes on okay it's great get just

some important things to note and i

don't want to get into sheep in july

business insider reported that jp morgan

became the first u.s bank to give its

financial advisors the green light to

give all wealth management clients

access to cryptocurrency funds in august

reuters reported that citigroup is

considering offering bitcoin futures

trading for some institutional clients

lots of other banks already offer

bitcoin futures and bank of america is

right on when they say that uh

ultimately uh this is something that we

can't ignore so so we're seeing a lot of

good positivity around a crypto

specifically bitcoin and ethereum and in

my opinion that sort of gives way to not

just things like a future etf of various

different cryptocurrencies maybe

ethereum etfs ethereum's doing well in

the last 24 hours cardano not doing so

great in the last about week mostly

because i believe there was a lot of

trade or momentum that went in uh right

before the alonso hard fork which would

have enabled heart which did enable uh

smart contracts on the cardano ada

network

and uh i think a lot of traders have

sort of pulled out of that and moved on

to other things that's normal i think

three dollars was a little high i wasn't

buying it three dollars anyway but

anyway

uh this all gives rise especially the

ethereum talk and cardano talk to shiba

inu

obviously a couple days ago actually it

was uh the evening of october 3rd so at

this point that would be three days ago

elon musk tweeted a picture of his

dog named floki which is a shiba inu dog

or or

that's that's literally the name of the

dog and the inspiration for ushiba inu

was obviously dogecoin because dogecoin

was made as a joke coin which became

incredibly popular the logo or the icon

of

the doge coin the actual coin the logo

is a shiba inu dog

and elon musk tweeting that picture

literally led to this insane trending

movement of sheba in you it is at this

point pure momentum but it is getting a

lot of people extremely interested in

the functionality of sheba in you

compared to dogecoin just for reference

shiba inu right now at the time of this

recording has about one third of the

market cap of dogecoin dogecoin sits on

the bitcoin network its current uh

market cap for a dogecoin is about 32.3

billion dollars and shiba inu oh it's

moved up since i started recording this

is now at 12.8 so slightly less than

three uh 3x at this point

but shiba inu is not built on the

bitcoin network it is or an offshoot of

the bitcoin network uh it is built on

the ethereum network which enables smart

contracts uh which dogecoin does not

currently do and transaction fees have

been notoriously complained about being

a little bit too high on dogecoin now

since elon musk's dog

who which is a shiba inu dog is named

floki there's also a cryptocurrency

floki that's going nuts but most of the

trends right now seem to be heavily

focused on shiba inu we've been trending

on twitter ashib sheba army sheba wallet

so we've been training multiple times

for two days in a row now we're i don't

personally believe we're at peak media

yet either we got mentions in bloomberg

today and the wall street journal but we

have not been mentioned yet in the more

mainstream style like fox news and cnn

which usually once you start trending on

the front page of those websites you're

kind of like okay now we're going to

like dogecoin style peak media right

and i want to give you a little bit of

background about shiba inu and then i'm

going to tell you whether or not i

invested so

chiba inu is up substantially just over

the last week i think the easiest thing

here to really do is simplify the way we

talk about its price so even though what

i'm going to say is incorrect just roll

with me for the sake of making the video

here and it's going to make sense in

terms of why i'm doing this i'm going to

call this

34.3

cents

even though it's .000

whatever now it's 30.8 whatever right

we're going to call it 30 cents just for

the sake of being able to sort of see

what the heck is happening here

in fact wow we literally just saw that

update happen right in front of us so

anyway you've seen this incredible run

up here this is just the day chart folks

we went from 21 cents to a high now of

34 cents just dropped to about 31. we go

back to the past seven days uh we have

gone from uh we're presently around

31 cents we're gonna call it's not 31

cents but you're with me on this uh we

were sitting at a shelf at 27 cents sat

at a shelf at 23 cents sat around 18

cents i want to make sure i'm not

missing a decimal place here i'm not

so decimal place move is very important

we sat around and ran up to 18 cents on

the 5th 13th cents on the 4th and elon

musk's tweet came out right around 6 50

p.m right around here

while it was around 8.2 cents so we've

gone from 8.2 cents

to 14 to 18 to 22 to 24 to 29 to now

sitting around 31.

highly volatile extremely risky it's

moving folks because elon musk tweeted a

picture of a dog okay elon musk twitter

here i'm not i'm not signed in on this

private broad there it is floki frank

puppy it is that's literally it that

that was the splashy 6 41 p.m california

time on october 3rd okay there there's

your catalyst

for

this

which uh is really a a uh you know 3x

thing here or more potentially a

forexing uh from eight cents to uh yeah

about a 4x right now we're at about a 4x

so anyway uh there's there's not much

technical analysis in my opinion we

could do we could do fibonacci

retracement retracement we're not going

to do that at this point it is worth

noting that previously uh this has hit a

high of 34 cents that was on may 10th we

hit 34 cents it's actually quite

interesting that we literally just

bounced off of 34 cents so clearly there

were probably some larger sell orders

set for the previous high

but i also believe that with the amount

of trend that we have pushing on sheba

in you right now relative to other alt

coins

i personally think we're going to exceed

the uh the previous high substantially

we'll see could be totally wrong the

only thing pumping this right now is

trend analysis that's it i don't think

ta works now i don't think fundamental

analysis works out this is momentum

momentum momentum that's where we sit

right now and over here we'll talk about

this more but uh this was really when

about half of the available shiba inu

currency or coins were burned and we'll

talk more about that in just a moment

and so that led to a dramatic amount of

news we could see we stayed at an rsi

after that news of about 27 to 29 for

actually up to about a month and a half

after that news

and right now we're sitting at an rsi of

about 41 which uh which is really less

than

it's about half peak it's less than half

of the peak media that we've been at

before

if we go to trends in the last 30 days

obviously we're going to get rid of that

bump that we previously saw but we saw

search trends for sheba enu in the last

30 days at an rsi of 73 and we didn't

even really have a massive price

movement let's verify that here just to

make sure so september 13th was right

here this sort of pit right here there

wasn't really a massive price catalyst

that would have led to a larger

particular trend movement in shiba inu

or trend-based

price movement so in my opinion and this

is just completely my uneducated opinion

it is very possible that we can

substantially exceed uh the trend that

we have seen or the search trends that

we've seen in may

and this will obviously update right now

this chart only pulls us through uh the

the week of october third to the ninth

which is obviously where we sit right

now but it's a dotted line this could

obviously update tomorrow substantially

if we go back to the past day and seven

days

we'll see that right now at the time of

this recording in the six o'clock hour

here we've got another substantial boost

here in uh the trend for this probably

because we did just hit an all-time high

go out to 30 days again you could see

yeah we're exceeding but still 73 that's

pretty high i think we should this this

should be like a 10 relative to the

search volume we're getting right now if

we go out to seven days we uh we could

see that had a massive spike uh which is

really interesting that you had a

massive volume spike here all of a

sudden that seven o'clock hour on

october 5th

which uh october 5th wasn't exactly a

catalyst point beyond pricing so if we

go to 7 p.m on october 5th we're right

in this particular hour here which again

nothing happened with pricing but some

some article may have been posted or

something but search has clearly moved

on that news so anyway uh going back to

the day chart here obviously this is

going to be extremely volatile let's

talk a little bit more about uh how this

coin works and what this is folks i had

this written on my notes here i mistook

when this occurred and i'm not even

gonna bother to edit uh the fact that i

could just restate what i just said

because honestly i'm just full

transparent i didn't remember but the

september trend search was actually

because shiba inu was added to coinbase

uh that was probably the reason for that

so let's get started with a little bit

of more of the background here so we

started with a supply of one quadrillion

which is one thousand trillion fifty

percent was given to vitilik buterin the

ethereum co-founder the other co-founder

of course being uh the founder of the

cardano network charles hoskinson

on may 13th of this year uh this this

was the big spike that we saw vidalia

donated more than 50 trillion dollars a

worth of

or sorry 50 trillion sheep worth one

billion dollars at the time to india to

help uh with the coveted relief efforts

there this was roughly five percent of

all available sheep at the time

and then the rest

was burned so that leaves about 500

trillion as an outstanding supply of

coins for shiba inu

so this means that about 40 percent of

all

sheba was burned now what is burning so

burning means sending your coins to

what's known as an eater address this is

basically a black hole wallet so imagine

you're just taking some coins and you're

throwing them into a black hole

they get burned and they disappear

forever it's not something that somebody

has access to and this is a wallet that

has a public key so the transaction is

verifiable but there is no private key

so if there's a public key that means

anybody can see transactions going

theoretically in or out but nobody has

the power to send things out of the

address because nobody has the private

key so nobody can actually

you know utilize the tokens that are

there this is how burning works like

when people say they burn tokens it's

not actually like they just vanish

because they still have an address they

need to be essentially dumped into a

null or a black hole or a burner wallet

anyway uh so why would why would he burn

cryptocurrency or why would anybody burn

a cryptocurrency well typically you

wouldn't because that's literally just

like taking cash out of the bank

thousands of dollars at a time and just

throwing them to a fire pit this this is

not something that's done but there are

some cases there are burns that are done

one would be during an uh an initial

coin offering an ico which is like an

ipo but for a cryptocurrency and the

developers of the coin typically

determine how many coins will be minted

and in order to make sure all the tokens

are in circulation they may choose to

burn all the other minted coins that

were uh issued but aren't outstanding to

anyone and this was really the case with

sheep sheep had always intended for uh

vitilig to burn these coins he was

essentially just entrusted by the

developers to do this

uh also a second reason you might burn

coins is burning coins is used to

stabilize the price of some coins uh

some cryptocurrencies have uh every

transaction essentially force a certain

percentage of coin get burned in the

form of a gas fee

and it's basically a way to make the

network slightly more deflationary than

it would be without those fees

now there's a difference between being

slightly more deflationary and being

deflationary for example the issue rate

for ethereum is higher than the

burn rate so even though that is a

deflationary aspect you're still issuing

more coins than you have than you're

burning

which means it's technically still

inflationary right

uh and and so i bring this up because

some people are asking me like hey is

sheba inu a deflationary coin and really

it was only at that one point but i

don't think those coins were ever meant

to to disappear so so from what i can

tell i don't see shiba inu as being

deflationary but anyway

there is a model very similar to proof

of work also called proof of burn which

is also kind of interesting this is a

third reason you might burn coins and

this is where you have to literally

first burn a token in order to be able

to mine a token it's kind of like paying

an upfront cost to be eligible to mining

kind of also some people think of this

as like a real mining rig which degrades

over time or needs fixes or or needs to

burn energy except now you're just

burning coins instead of energy to uh to

to mine now some of this gets really

complicated we can make in-depth videos

on almost all of the things i just

mentioned i'm just trying to give a

generic overview over here but anyway

she

uh makes up along with the tokens leash

and bone

i know all dog related makeup something

known as the sheba swap ecosystem shiva

swap considers themselves the next

iteration of d5 platforms

it uh allows users to dig uh provide

liquidity pairs to bury to stake coins

which is kind of like you stake ethereum

or cardano or whatever and to swap

tokens in order to get wolf returns

through a passive income reward system

not super familiar with this at all just

some of the terminology for you many in

the community have been calling this uh

a deflationary currency kind of

mentioned this already but remember

there's there's really not much

deflationary about it outside of that

one vitiligo berm but the idea is that

there is a fixed amount of this coin so

if most of sheba swap is being staked

that is people who who hold their coins

if they're staking then technically the

more you're staking or the more you're

tying up in smart contracts then there

is less circulating supply it's kind of

like why does bitcoin go up as there are

more hodlers well the more hodlers you

have the less liquidity you have in the

market technically right you're taking

liquidity out and since we're not really

creating more if more sheep gets tied up

into smart contracts or in staking pools

then in theory you're you're deflating

at least the available circulating

supply

okay so

let's now just get to the elephant in

the room did i invest in this if i

invested in this why did i invest in

this uh is this uh is this stupid is

this a mistake uh you know what what's

what's the story here so uh the answer

is yes i invested 69 000

into

shiva inu at like 27 cents or something

like that i can't remember exactly what

it was

actually i posted a picture of it on

twitter relatively close to whenever i

took that screenshot

and uh then i and of course i always

send alerts anytime i buy or sell

cryptocurrencies i send alerts in my

stocks in psychology and money group

and i did put a disclaimer that with my

69 000

investment issue being you i believe

that this is a speculative investment i

actually didn't even say it's an

investment i said it's gambling

i said i am basically expecting to trade

this and i am hoping that somebody is

willing to pay more money than me at

some point in the future now i have no

idea when that future date is uh it

could be in two hours uh it could be in

uh

24

days or 24 i have no idea what it's

going to come down

to for me is the uh technique well it's

not really technical analysis it's also

not fundamental analysis that we're

going to play here maybe some ta because

we saw that we literally watched that

bounce off the all-time high

it's probably going to come down to

trend analysis which is really different

it's more of a it's more of a social

arbitrage style

of investment i

think that there are some

very incredible things that are getting

light within the sheba platform the

sheep swap platform i love how anytime

we get these sort of momentum movements

and particular coins we become very very

familiar with different coins it's

really like a

an opportunity to get really educated in

a coin and i think it's i think it's

incredible so i have 69 000 invested

into sheba i did then

invest another 50 000 into it

i wanted to invest another 69 but i was

out of money uh in my coinbase and the

instant deposit was not instant

gosh i bag on coinbase too much i'm

sorry i'm sorry hey but you can get a

credit card that pays you in bitcoin

rewards by going to medkevin.combf

mckevin.combf gets you to block five

where you can get a credit card that

pays you

in cryptocurrency rewards so check that

out if i go to mykevin.combf check out

the programs linked down below on

building your wealth and um

sheep to the moon thank you so much

sheep army and folks we'll see in the

next one