This post was originally drafted on November 1st and I made my sell orders on October 27th and 29th.
At a $40 billion market cap, SHIB was ranked at 9 amongst all cryptos when I sold it all at my average price of $0.000075. I first invested when it was ranked 47 in late August/early Sept at $0.00000725. Yup, I ate a zero my friends!
If it doubles from my sell price, it’ll slot in at 4th highest crypto by market cap at $80 billion between Binance Coin ($105 billion) & Tether ($73 billion). At double of current market cap, it’s price will be ~$0.00014 - $0.00015 per SHIB. That’s still 100x less than 1 cent. It’ll also be volatile as FOMO people buy and long time HODLers sell quickly as latecomers provide them exit liquidity.
Values are from CoinMarketCap.com if you’d like to verify.
My prediction is SHIB stays at top 10 to 15 for a while. SHIB will go up eventually but not as much as it has done in the last couple of months. 1000% rises aren’t sustainable folks!
Please plan your investments accordingly.
Based on my late Oct sell orders I’m averaging at $0.000075 sell price and my average buy price was at $0.0000165 so I got a nice 4.5x return. I’m more than happy with it considering this took under 2 months (Sept 3rd to now).
At $40-41 billion and ranking at #9 I don’t see SHIB going much higher in the short term, maybe 15-30% more. Not double (which is what I’m shooting for in terms of Altcoin return farming) as that would indicate a market cap of 82 billion. I don’t see it sitting at #4 after BTC, ETH & BNB even with a Robinhood listing. And if it does, it’ll be very volatile and prone to flash crashes.
But BTC will go to 90-100k in the next 2-3 months based on on chain data and Q4 post a halving year (2013 & 2017 patterns). This is assuming constant & increasing interest which I don’t think will diminish, especially in the top crypto. FTX is buying super bowl ads and Crypto.com is getting Matt Damon ads. Most of these ad targets will buy BTC or ETH as they’re the “safest” crypto investments.
Doge is down 61% from it’s ATH 6 months ago & I think SHIB will suffer a similar fate of stagnancy and end up on top 15-20 spot eventually or worse. Considering a lot of whales hold most of the coins, I’m no longer comfortable holding my profits in SHIB.
ETH is climbing new all time highs & it’s not done yet considering NFTs and Proof of Stake merge.
With my SHIB profits, I bought more BTC, ETH, SOL, ADA, DOT, some new-to-me tokens such as HBAR, LRC and other Metaverse coins such as MANA, ENJ and SAND.
We’ll see a BTC/ETH rally this November through January 2022 and next year is the Metaverse and NFT golden era as big names start producing NFTs!