Cryptocurrencies have been one hot tamale lately, bitcoin is back over 50 000. ethereum is pushing 3500 and even solana is above 160. Now, with all that being said, it is a completely different crypto that is stealing all the headlines and i'm talking about sheba enu and really it's for good reason. Thus far in early october, shebe is up over 150 and it's currently trading at 0.00019 and according to coin market cap in the past 24 hours, it's traded more than 11.5 billion dollars and in fact, as i'm filming, this hashtag sheba army is currently trending on twitter.

This is absolutely insane, and it's more than fair for you to be asking what in the world is going on now in this video i'll, be answering what is she giving you a little bit of a history of it and then i'll be sharing my own personal Opinions on this cryptocurrency now before we get into all the exciting stuff. I do want to give you a quick word of warning. I am by no means a crypto expert and i'm definitely not a sheep expert. In fact everything i know about it.

I just learned to create this video for quite a while. I was pushing it off just because i thought it was another meme coin. I didn't really think it was worth my time, but recently i'm seeing so many more people talk about it that i thought it was at least worthwhile to dive into, but just so you know, i also do have a small position. Now i never bought it.

It was gifted to me by voyager when i filled out one of their questionnaires and i have no plans on buying any extra or selling what i currently have i'm just going to stay flat on my own personal money. So i'm attempting to give you the most unbiased opinion of sheep that i possibly can. So what is shiba inu? What is she it's an erc20 compatible crypto that definitely started out as a meme. In fact, they even admitted it that it started out as a meme, but more recently it's taking on more of a, i guess, a serious application that really revolves around community governance and community building, and it's that latter part that i found to be specifically interesting.

If this is your first time watching one of my videos, i mainly create content related to amc and gme, and i honestly think that's one of the most interesting parts about both of these stocks is the fact that they have such a strong community. There's that special aspect of psychological wildfire, so when i saw that she was really centering about this community building it definitely it at least caught my interest. She was created in august of 2020 by an unknown person who goes by the name of ryoshi and at first there was a bit of excitement, but that quickly died off and there wasn't really a resurgence until early 2021 and it kind of aligned with when dogecoin Started to go haywire so to my understanding, you can best think of it as some sort of sympathy play and a little bit after that in march of 2021, there was another resurgence, because our boy elon musk, a person who is well known to have a strong Influence on the entire cryptocurrency sector announced that he himself would be buying a shiba inu dog as a pet. Then, if we fast forward to april that's when the sheep team released, the official white paper also referred to as the wolf paper for obvious reasons and then a little bit later in may, don't forget, that's when elon was on snl and that had a lot of Relations to do with dogecoin and at that point all dog-based cryptocurrencies were going kind of a bit nutty, but also within may that's when the ethereum creator buterin ended up burning almost half of the supply of sheep.

Now, if you haven't heard of crypto burning before i'm going to explain that in a little bit, but basically he destroyed kind of half of the circulating supply, then halfway through the year, the sheep team released the second version of the wolf paper, and this was probably Followed in july by the drop of sheba swap, which is a d5 exchange, this allows its users to provide liquidity, they can stake, and now they could even buy nfts and it kind of involves an entire ecosystem around ship that has some other coins referred to as Bone and leash - and that's something that i do think, is pretty interesting and worthwhile for everyone watching this to take a little look into not really much happened in august, which is kind of the common sentiment for almost all markets in august of 2021, but in september She did make its official debut on coinbase pro about halfway through the month, but just you know its first big official listing happened back in may when it was put on by nance and now that kind of brings us to what's going on with sheep in real Time it's making headlines, it's trending on twitter and it's up a pretty hefty percentage, and a lot of you are probably watching this video for the most reasonable question of. Is it going to keep going or is the rug going to get pulled now before i get into this part of the video the price prediction part? I need to remind you, you have to do your own dd. I am not a financial advisor, i'm not a fortune teller to the best of my understanding, i'm not clairvoyant and really when it comes to the markets, they very much live in the gray area. Nothing is ever going to be guaranteed whatsoever.

I think it's great that you're watching this to learn a little bit about sheep, but don't let your curiosity end here. You got ta dive into it because at the end of the day it is your own money and you got to take responsibility for your own financial health. I am more than happy to share my opinions and i do want to share my opinions, but i guess split into two different parts. I want to talk about the psychology of what's going on and then also more of the fundamentals of sheep, as i've previously stated.

I am my no means a crypto expert, definitely not a sheep expert. In fact, i've mainly been following the narrative, the storyline of both amc and gme, and one of the main takeaways i have from that over the past 10 months is how incredibly powerful a large devoted community is so with that being said, that is definitely a check In the pros column for sheep, because i mean it's trending on twitter, so many headlines - this is a very ravenous group that is excited about. What's going on, they see the potential they see the hope and i've learned from amc and jimmy. You cannot discount the power of a massive massive community on more of a fundamental note.

Sheep has currently a circulating supply of about 400 trillion with a t coins and it's trading at, like i said 0.000019 and the big question is: can this hit one cent ten cents i mean? I even saw people calling out a dollar and with those kind of numbers i mean, if you just look at the market cap this would this wouldn't be bigger than bitcoin. This would be bigger than all crypto put together so at what's currently going on. I think some of those high predictions are not the most reasonable, but when you really start diving into what's going on with sheep you're going to start reading about, things referred to as auto burn and burning, and this is kind of relating to what buterin did back In may, when he burned about half the supply now, for those of you who don't know burning a token means kicking tokens out of this circulating supply by locking them or sending them to an unused wallet address. This is also referred to as a dead wallet.

Now this makes sense, because, when you're talking about supply and demand and the equilibrium being the price, if you cut down supply but demand stays the same or even goes up, that means that the price can also go up so for people who have lofty goals for What she is looking for, please be paying attention to any news related to burning of sheep. Now for me personally, i'm neither bullish or bearish i'm just trying to share what's going on with this situation, so you feel more informed as a viewer. Now, if you happen to absolutely hate sheep - and you just think it's a pump and dump that's perfectly fine - i just suggest avoiding it and don't even think about it. Now, if you happen to be very bullish on sheep, i hope you absolutely destroy it.

I hope you make a boatload of money because it makes me happy when any of my viewers have a nice success like that, but i am here to remind you: please respect your risk to reward. Don't forget you got to take care of your own financial health, which means you should never be betting more money than you're willing to lose. Now, if you haven't already, i would truly appreciate it if you could hit that like button, and if you want to be a member of the moon gang, all you have to do is hit that subscribe button. That type of engagement truly does help me with the youtube algorithm and until i catch it next time, i hope you have an absolutely phenomenal day.

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