Shiba Inu's 45,278,000% Return in 2021 Now Down 90%
- Historic Returns vs Current Status: Shiba Inu delivered an astonishing 45,278,000% return in 2021, but has since plummeted 90%, highlighting its extreme speculative risk and lack of real-world use cases.
- Market Value Analysis: With a total supply of 589.2 trillion tokens and a current price of $0.0000083, Shiba Inu's market capitalization stands at $4.9 billion, making a $1 price per token unrealistic as it would require burning 99.99998% of the tokens.
- Token Burn Plan: The community burned only 110 million tokens last month, translating to an annualized burn rate of 1.3 billion, indicating it would take 453,230 years to burn over 589 trillion tokens, illustrating the long road to achieving the $1 target.
- Lack of Real Use Cases: Shiba Inu has failed to establish effective use cases, as developers' attempts to generate demand through initiatives like the metaverse and digital card games have not gained traction, leading to its continued decline.
Trade with 70% Backtested Accuracy
Analyst Views on BTC
About the author
Cryptocurrency Gains Boost Mining Stocks: Bitcoin Up 1.5%, Ethereum Up 0.6%, Solana Up 1%; Cipher Soars 16%, Bgin Rises 11%, APLD Increases 7%, IREN and RIOT Also See Gains.
Cryptocurrency Market Performance: Major cryptocurrencies like Bitcoin, Ethereum, and Solana have seen slight increases, with Bitcoin up by 1.5%, Ethereum by 0.6%, and Solana by 1%.
Mining Stocks Surge: Mining stocks are experiencing significant gains, with notable increases in companies such as Cipher (+16%), Bgins (+11%), and APLD (+7%).
Overall Market Sentiment: The positive movement in both cryptocurrencies and mining stocks indicates a bullish sentiment in the market.
Additional Companies Rising: Other companies in the sector, including IREN and RIOT, are also showing upward trends in their stock prices.
Whale "Set 10 Major Goals Initially" Closes BTC Long Position at $81,300
Bitcoin Position Closure: Whalese announced the closure of a Bitcoin long position at a price of $81,300.
Profit Announcement: They previously shared a trading screenshot on social media, indicating a floating profit exceeding $5.21 million from their Bitcoin long position.
Trader Closes $56.68 Million Bitcoin Short Position, Incurring a $1.94 Million Loss.
Trader's Loss: A trader liquidated a $56.68 million Bitcoin short position, incurring a loss of $1.94 million just one hour ago.
Previous Trades: The same trader had previously shorted Bitcoin 11 times, accumulating a total profit of $1.71 million from those trades.
Impact of Loss: The recent loss wiped out all profits gained from the previous 11 trades.
Market Monitoring: The information was reported by Look Into China's monitoring service, highlighting significant trading activity in the cryptocurrency market.
US Bitcoin Spot ETF Attracted $532 Million in Net Inflows Yesterday, While Ethereum ETF Gained $61.3 Million.
Bitcoin Net Inflows: Yesterday's net inflows into U.S. Bitcoin spot ETFs totaled $532 million, with significant contributions from BlackRock, Fidelity, and Morgan Stanley.
Ethereum Net Inflows: The net inflows into U.S. Ethereum spot ETFs reached $61.3 million, primarily driven by BlackRock and Fidelity.
BlackRock Contributions: BlackRock's Bitcoin ETF saw an inflow of $335 million, while its Ethereum ETF attracted $54.8 million.
Fidelity's Role: Fidelity's Bitcoin and Ethereum ETFs contributed $184 million and $6.5 million, respectively, to the overall net inflows.
Strive Purchases 444 Bitcoins Worth Around $33.9 Million
CEO's Investment in Bitcoin: Strive CEO Matt Coler revealed on social media that he increased his holdings by approximately $33.9 million to acquire 444 bitcoins at an average price of around $76,307 per BTC.
Total Bitcoin Holdings: Coler's total bitcoin holdings have reached 15,000 BTC, reflecting a significant investment in the cryptocurrency market.
Quarterly Returns: The company reported a quarterly return of 4.3% on its bitcoin investments.
Year-to-Date Performance: Year-to-date, the returns on the bitcoin investments have been reported at 18.7%.
Bitcoin Drops 1.5% in 10 Minutes, Falls Below $79,000
Bitcoin Price Drop: Bitcoin experienced a sudden 1.5% drop within 10 minutes, falling below $79,000 to a current price of $78,724.
US Warship Incident: A US warship ignored Iranian warnings and attempted to approach the Strait of Hormuz, leading to tensions in the region.
Iran's Military Response: In response to the US warship's actions, Iran fired two missiles at it.
Warship's Reaction: Following the missile launch, the US warship turned back, indicating a de-escalation of the situation.
Cryptocurrency Gains Boost Mining Stocks: Bitcoin Up 1.5%, Ethereum Up 0.6%, Solana Up 1%; Cipher Soars 16%, Bgin Rises 11%, APLD Increases 7%, IREN and RIOT Also See Gains.
Cryptocurrency Market Performance: Major cryptocurrencies like Bitcoin, Ethereum, and Solana have seen slight increases, with Bitcoin up by 1.5%, Ethereum by 0.6%, and Solana by 1%.
Mining Stocks Surge: Mining stocks are experiencing significant gains, with notable increases in companies such as Cipher (+16%), Bgins (+11%), and APLD (+7%).
Overall Market Sentiment: The positive movement in both cryptocurrencies and mining stocks indicates a bullish sentiment in the market.
Additional Companies Rising: Other companies in the sector, including IREN and RIOT, are also showing upward trends in their stock prices.
Whale "Set 10 Major Goals Initially" Closes BTC Long Position at $81,300
Bitcoin Position Closure: Whalese announced the closure of a Bitcoin long position at a price of $81,300.
Profit Announcement: They previously shared a trading screenshot on social media, indicating a floating profit exceeding $5.21 million from their Bitcoin long position.
Trader Closes $56.68 Million Bitcoin Short Position, Incurring a $1.94 Million Loss.
Trader's Loss: A trader liquidated a $56.68 million Bitcoin short position, incurring a loss of $1.94 million just one hour ago.
Previous Trades: The same trader had previously shorted Bitcoin 11 times, accumulating a total profit of $1.71 million from those trades.
Impact of Loss: The recent loss wiped out all profits gained from the previous 11 trades.
Market Monitoring: The information was reported by Look Into China's monitoring service, highlighting significant trading activity in the cryptocurrency market.
US Bitcoin Spot ETF Attracted $532 Million in Net Inflows Yesterday, While Ethereum ETF Gained $61.3 Million.
Bitcoin Net Inflows: Yesterday's net inflows into U.S. Bitcoin spot ETFs totaled $532 million, with significant contributions from BlackRock, Fidelity, and Morgan Stanley.
Ethereum Net Inflows: The net inflows into U.S. Ethereum spot ETFs reached $61.3 million, primarily driven by BlackRock and Fidelity.
BlackRock Contributions: BlackRock's Bitcoin ETF saw an inflow of $335 million, while its Ethereum ETF attracted $54.8 million.
Fidelity's Role: Fidelity's Bitcoin and Ethereum ETFs contributed $184 million and $6.5 million, respectively, to the overall net inflows.
Strive Purchases 444 Bitcoins Worth Around $33.9 Million
CEO's Investment in Bitcoin: Strive CEO Matt Coler revealed on social media that he increased his holdings by approximately $33.9 million to acquire 444 bitcoins at an average price of around $76,307 per BTC.
Total Bitcoin Holdings: Coler's total bitcoin holdings have reached 15,000 BTC, reflecting a significant investment in the cryptocurrency market.
Quarterly Returns: The company reported a quarterly return of 4.3% on its bitcoin investments.
Year-to-Date Performance: Year-to-date, the returns on the bitcoin investments have been reported at 18.7%.
Bitcoin Drops 1.5% in 10 Minutes, Falls Below $79,000
Bitcoin Price Drop: Bitcoin experienced a sudden 1.5% drop within 10 minutes, falling below $79,000 to a current price of $78,724.
US Warship Incident: A US warship ignored Iranian warnings and attempted to approach the Strait of Hormuz, leading to tensions in the region.
Iran's Military Response: In response to the US warship's actions, Iran fired two missiles at it.
Warship's Reaction: Following the missile launch, the US warship turned back, indicating a de-escalation of the situation.
