Let me preface my question. I been dabbling in crypto since 2017. In 2019 I got really into XRP because I thought the problem they were trying to solve for banks was really cool and valuable. I also used it to transfer money and thought it was really fast and dirt cheap. Fast forward to 2020, my stock and crypto went up and at that time I was looking into purchasing a place for myself. My BTC and XRP gave me 10x plus returns so I decided to sell for my downpayment. Needless to say I was really happy with my investments. At this point I didn’t feel like buying either BTC or XRP, I thought with their price at the time and today other financial vehicles could give me better returns. Been investing in stocks related to lithium and batteries for a bit. I heard about SHIB when it first came out but dismissed it completely. Then it rallied. I felt the FOMO and bought some SHIB when it came back down from its ATH. Looking at this sub it’s like entering a time machine, all of the comments and posts really echo the posts that were being shared in the XRP sub back when I was buying. To be 100% honest, I have no idea what the utility for SHIB is supposed to be. My main drivers for buying it today are 1. Burning – Even when the amount of SHIB in circulation is astounding I think there could be a chance that someone creates a creative exponential method to burn SHIB. 2. This is going to sound dumb, but I think the logo is cool.
Looking at the market cap today I do feel that holding and popularity could push the price up for good returns on the 4x range.
I generally invest in things I believe have intrinsic value and I hope I don’t get massively downvoted for this comment but other than hype what’s SHIBs intrinsic value?
Been doing some light research but can’t really find anything substantial.
submitted by /u/cilantro88
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