In two months, it increased more than 2000 times, SHIB makes me question my life

This article is from Odaily Planet Daily, author: Qin Xiaofeng.

If we review the most popular cryptocurrencies in the past month, besides Doge, the "copycat project" SHIBA INU (SHIB) must be on the list.

At 3 PM today, Binance officially announced that the Binance Innovation Zone will launch SHIBA INU (SHIB) at 7 PM tonight. As soon as the news broke, it once again drove the price of SHIB up.

According to OKEx, SHIB surged from 0.0000147 USDT to a high of 0.0000228 USDT, with an hourly increase of over 50%; CMC data shows that SHIB's market capitalization has entered the top thirty, ranking 23rd, surpassing established projects like XMR, NEO, and BSV; over the past two months, SHIB has accumulated an increase of over 2000 times; as of the time of writing, SHIB's price remains above 0.00002 USDT, and "SHIB Surge" has once again topped Weibo's trending searches.

Previously, SHIB's anonymous developers sent 50% of the token supply (500 trillion SHIB) to the wallet of Ethereum founder Vitalik Buterin. With the recent price surge, the value of SHIB in V's wallet has exceeded 20 billion dollars. Although V himself has never taken any action, the possibility of exchanging SHIB for ETH in the future cannot be ruled out.

（V's address）

In addition, many new copycat projects have recently begun to imitate SHIB, transferring a certain amount of cryptocurrency to V's address and publicly claiming that V holds the project tokens to promote and create hype. Currently, V's address contains dozens of various animal coins, including Dogecoin, Pigcoin, and Pikachu, leading many to jokingly refer to V as the zookeeper.

The rise in SHIB's price has also brought substantial profits to early investors, and SHIB community holders have made bold statements:

• "SHIB target price is 1 dollar."
• "SHIB is the real Bitcoin, the currency of the future."
• "I won't have to go to work tomorrow; SHIB has freed me from suffering."

While some celebrate, others lament; SHIB's outstanding performance has left many who missed out regretting:

• "With the money I used to buy Bitcoin, I could have traded for Doge, Dog Leash, or Dog Shit, and I'd be free."
• "Speculating on coins has no future; speculating on shit is the way to get rich."
• ……

More importantly, SHIB's rise has led many cryptocurrency investors to "question" their investment philosophy and logic. In their view, projects like SHIB, which are purely speculative and have no development, are destined to be a bubble that will inevitably burst after the frenzy; yet SHIB continues to set new highs, undoubtedly slapping their judgments in the face and mocking them as the real fools.

"I understand why Munger hates Bitcoin because I also hate SHIB," one investor lamented, stating that he can no longer provide investment advice to new investors.

"A friend asked me if I wanted to participate. I said I only dare to play with mainstream coins—who knows, it might be in the top ten by market cap in a few days. At that time, should I play or not?"

It seems that veteran investors focus more on technology, product applications, and practical implementations, while many new investors pay more attention to celebrity effects. "Most projects in the cryptocurrency space are just air; since they are all air, isn't it better to buy the air that celebrities are blowing? After all, Musk is promoting Doge and SHIB."

This is indeed the case; the outliers Doge and SHIB rely heavily on the celebrity effect of Tesla founder Elon Musk. Coupled with the current boom in the cryptocurrency market, new investors both domestically and internationally are starting to enter the market, and the relatively low-priced and popular Doge and SHIB naturally become their first stop. With one round of buying after another, it is not surprising that the prices of both continue to hit new highs.

But how long this trend can last is anyone's guess. Especially with various copycat projects starting to emerge, whether this is a wealth myth or a game of hot potato, we will soon find out.