The price of something is what one is willing to pay for it, so the market cap argument falls apart in the longer run. The fact that there are so many zeros before 1 penny (while being top 10) makes Shib very attractive and will lead to spikes and pullbacks based on adoption and news. Since it is so cheap, this makes it an internationally attractive investment too. Bitcoin and others are too expensive when Joe the Plumber looks at price charts. A coin that is less than a penny is more likely to *continually* bring in the people. More buyers and sellers at different levels, on the road to one cent. Why wouldn’t people be willing to pay 0.01 or less for a top 10 coin while crypto is seeing greater integration into the global financial systems. Every spike while it is sub-penny leads to increased media attention and hype on Shib, which is a process of growing legitimization and acceptance of this coin. This causes a feedback loop (price moons on a cheap investment > all over the news and more awareness > new fomo buyers > price pulls back a little (normal) > dip buyers, value and speculative investors come in > more news or catalysts > price moons and so on). It happens with bitcoin. It is happening with “cryptocurrency” as an asset class. Stories about millionaires being made overnight lead to more hype. The number of people who want to quit their job and never work again is not to be underestimated. To support this idea, think about how many people buy lotto which has an even smaller chance of success. Think further about how many people buy lotto when they keep hearing about how much it’s growing. This is like a perfect meme storm… combining the memory of what Dogecoin did, with the AMC and Gamestop apes, along with the penny stock people, and mainstream folks
Slow and steady wins the race to the moon. I cannot predict the future and these are just my reflections on Shib and not advice. But this is my favorite coin so far and I am holding. Hopefully I can quit my job and live off my investments one day too.
submitted by /u/Zer_oKelvin