Cryptos gone mad
Another coin in the dog family race, dogecoin move over. Worth more than Deutsche bank now. WTF And I laugh at the young kids, joke is on me.
Shiba Inu is now the 11th most valuable cryptocurrency, with a total market value of more than $28 billion, according to CoinMarketCap. Supporters of the so-called meme coin believe it’s a worthy rival to Dogecoin
https://www.fool.com/investing/2021/10/27/why-shiba-inu-skyrocketed-new-all-time-high-today/
In hindsight, Dogecoin‘s (CRYPTO: DOGE) uncontrollable rally to the moon was probably one of the greatest trades of all time. If you invested just $100 into DOGE at the beginning of last year, it would be worth well over $11,890 today. And that’s after a 64% decline from its all-time highs.
But for those who missed out, the rise of a Dogecoin competitor, Shiba Inu (CRYPTO:SHIB), is rapidly filling that gap. In August last year, an anonymous person or entity known as Ryoshi created SHIB as a token on Ethereum‘s ERC-20 blockchain. A $100 investment made back then would have an incredible value of $1,618,066 today. Its user base has also exploded to over 585,000.
Insanity
I recently read that out of the 10,000 cryptos in circulation,
1,000 have already gone bankrupt.
This reminds me of the feverish pitch in the 1999 internet run up.
‘It’s deja vu all over again’ Yogi Berra 😀