2700 times the Shiba Inu coin, 50 times the pig coin, more and more can not understand the coin circle

The practitioners of the currency circle have completely lost sight of what is happening in the currency circle every day.

One by one with Chinese pinyin to piece together the new coin quickly occupied the big coin group, DER coin (MinGB), MingB (god coin), NiUushi (cow shit coin), LowB (loser coin) and other nonsense projects, has become the mainstream of the current coin circle.

"A poor young man from a fourth-tier city in China invited another poor programmer to initiate the project together. He lost a lot of money by speculating coins successively. This time, he set up this project with the mentality of returning to zero." This is the LOWB project description, and the other projects are pretty much the same. In other words, these projects appear to be completely meaningless, just entertaining, but have a powerful wealth effect.

According to CoinMarketCap data, since March this year, Bamboo (Bamboo Coin) has increased more than 9 times, LOWB 11 times, Akita (Akita Inu Coin) a week up 18 times, Pig (Pig Coin) increased 50 times.

The source of the troubled times "Shiba Inu Coin"

Shiba Inu coin, code SHIB, from Dogecoin. After the dog soared, funds began to look for the next potential dog, and just as Tesla founder Elon Musk mentioned "Shiba Inu" on Twitter, Shiba Inu coin became the target of funds.

According to CoinMarketCap, as of the time of publication of this article, Shib's price is $0.00003,421, and Shib's market value is about $13.5 billion, ranking 16th among cryptocurrencies. It has surpassed ETC, SOL, FIL, TRX, EOS and other old projects.

The market has a high enthusiasm for SHIB. After SHIB launched Huobi and OKEx, the second-line trading platforms experienced a brief outage, and the price of SHIB continued to rise all the way. The climax since Binance announced the on-line SHIB arrived, Binance opened the SHIB transaction, due to the traffic is too large, Binance directly shut down the withdrawal function.

CoinMarketCap data shows that the transaction volume in 24 hours is about 21.8 billion dollars, more than BTC, ETH and other mainstream currencies. In February this year, Shib prices were at a low of $1.4*10^-8. Based on yesterday's high of $3.9*10^-5, Shib prices have surged more than 2,700 times in just three months. The rising rate is getting faster and faster, which can double in a day. Shib prices have risen more than 600% in the past week.

Since DOGE and SHIB have soared out of the circle, the animal "myth" is quietly reshaping the coin circle. In recent days, the coin circle has become a zoo, animal plate heat, animal coins have on, and the price increase is amazing.

At present, including Dogecoin, there are a variety of coins named after animals on the market, such as Goat Coin, Pig Coin, MC Coin, Duck Coin, Pika Coin and Fox Coin. Compared to other species, dogs are favored, including the DOG, SOGE, AKITA, HOGE, POODL and many others.

It is worth noting that, including the DOGE, SHIB, most of the similar currencies are copycat coins without technological innovation. The rise of such shanzhai coins, and the consensus of the currency circle native investors has been in conflict.

"In the coin circle for a long time, Shib this coin has been immune." Liu Ying said to Rhythm.

Liu Ying is a cryptocurrency investor and a practitioner in the blockchain industry. In her opinion, currencies such as SHIB, which tell stories by creating new concepts, are everywhere in the currency circle. Small currency because of specific reasons, a short period of time quickly jump up red, in the currency circle is not rare.

"But I didn't expect it to be as high as it is now." It is known that only small currencies have occasional bursts of inflation, but few currencies can rise as fast and consistently as the Shib and Doge. More to the point, "they have no value to support them."

"Every era has its SHIB." Native investors believe that such concept currency is not rare in the currency circle.

In January 2018, the star project NEO became famous when its token, Xiao Yi Coin, topped the list with a price of $187. Small ant coins become a new generation of thousands of coins. Less than a year later, in November of the same year, the price fell to less than $10 and remained dormant for a long time. In early January of this year, it began to rise gradually.

Recently, #SHIB has been trending on Twitter in many places. "Shib rise" has also been among the top 10 searches on Weibo before.

It is different from "blockchain" and "bitcoin", which are active or silent, but always appear in the public discussion for a long time. According to the micro index, the keyword "SHIB" was included for the first time on May 9, when its index was 0 for a long time.

Yesterday, the "SHIB" micro index even surpassed "blockchain" and "bitcoin".

In the view of some native investors in the cryptocurrency field, many animal coins represented by Shib have no investment value. They are not buying Shibs either, and the investors who are aggressively buying and pushing up the animal sector are mostly "outsiders".

As the online screenshots that have been circulating in the community in recent days, the new generation of cryptocurrency investors who invest in Shib may not even have heard of Dao Litecoin and call LTC a "minority currency".

The new generation is flipping the table

Industry analysis, the Shib skyrocketing, or for retail FOMO psychology. And this phenomenon in the United States at the beginning of the year has already had a preview. At the beginning of this year, AMC cinema line and game stations are dozens of times or even a hundredfold increase.

At Berkshire Hathaway's May 1 meeting, many shareholders also raised the issue of Meme shares in questions. Buffett believes that buying Meme requires dealing with it psychologically, so it shouldn't be touched. He compared Meme shares to a "casino," and Munger once said of Robinhood, Meme's main trading platform: "If you sell them gambling services and take a profit from it, I think it's a dirty way to make money." "I think we're crazy to allow this, and it's regrettable," Munger said of Meme's stock boom.

But there is no question that, whether or not this is a rational move, the animal sector is still going strong for a number of reasons. The new breed of crypto investors is similar to the U.S. retail stock market, and they are adept at using memes, memes and social media to spread the word.

For retail investors, fear of missing out on the next boom is driven by FOMO psychology, while the high price of Bitcoin triggers fear and leads them to search for the next currency with a lower price. Or because of this kind of psychology, animal plate ushered in the volume price rise.

"I can see why Munger hates bitcoin, because I hate shibs, too," he says. The words were made into memes and circulated in various communities.

"Retail investors only look at the unit price, but they don't care about the market value of the currencies. For example, Dogecoin is already the fourth largest cryptocurrency by market capitalization. It doesn't create new value for blockchain technology," said an industry insider.

What's more ironic is that this cryptocurrency, which took two hours to create, was created to satirize bitcoin.

"The mainstream currency has risen too much to keep up, flip the table and start again." This is a graphic description of the animal currency skyrocketing.

After a hundredfold of one species, retail investors keep flipping tables in search of the next. Is the trend of Meme currency a temporary brilliance or a change in investment logic? The answer to that question is not yet known, but we might learn a thing or two from the Meme craze.

A short-term speculative boom may affect the market. But in the long term, it will inject new life into the market and bring in more active investors.

Logica Research, an investment advisory firm, conducted a survey in early February. A growing number of new retail investors are considering long-term investment plans, according to a survey of 1,000 new retail investors who will enter the stock market from 2020. In 2020, 44 percent of new retail investors are more concerned with short-term gains, while 56 percent are focused on long-term investment plans. In 2021, the focus of retail investors has shifted by a wide margin, at 28% and 72%, respectively. More people are turning to long-term gains than short-term gains and losses.

How long the animal money craze will last is anyone's guess, but there are already some animals that have fallen off the peerboard. The PIKA rose 66-fold in a matter of days in April, but has since fallen by two orders of magnitude. The prospect of other animal coins remains to be observed.

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