What edward snowden revealed about shiba inu & bitcoin and why shib will survive - The Comprehensive Minds

What Edward Snowden Revealed About Shiba Inu And Why We Must Pay Attention 

shiba inu coin
Pic Credit: Crypto Science

Everyone is talking about Shiba Inu nowadays. Are you holding Shiba Inu or planning to buy dips? then this article is for you. Just like defy and NFTs tokens, The combined market cap of meme coins has surpassed 28.91 billion dollars with a 24 hours trading volume spiking up to a whopping 1.4 billion dollars. With such huge market domination, meme coins can not simply be ignored anymore. 

After Dogecoin, Shiba Inu is the second coin ruling the meme coin market cap. Even after huge community support, the price of Shiba is not showing impressive moves. Experts believe that due to the huge coin supply of Shiba Inu, Shiba is unable to cut zeroes out of its price. 

But the main question arises, Is Shiba Inu dead?. This question will be answered today, and we will also discuss what Edward Snowden has to say about the recent crypto market crash and Shiba Inu. So stick around for that because today's article will be full of major updates...  

The live SHIBA INU price today is rolling around 0.000006 dollars with a 24-hour trading volume of 221,000,000 dollars. SHIBA INU is down 0.31% in the last 24 hours. The current CoinMarketCap ranking is #47, with a live market cap of 2,500,000,000 USD. 

If you are new to Shiba Inu, Let me quickly introduce you to the Shiba Inu ecosystem. Shiba Inu coin was created by an anonymous person with the pseudo name "Riyoshi" in August 2020. The meme coin quickly increased speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and Tweet supports from big personalities like Elon Musk and Vitalik Buterin. 

Currently, the community is rising daily and surpassed 600,000 Shiba Inu holders. Shib is a decentralized community-building venture developed within the Shiba Inu ecosystem. It is a decentralized cryptocurrency modeled after Dogecoin, also known as the Shiba token. 

Just like Dogecoin, Shiba Inu was not designed with a specific goal, but as a joke coin created for fun, money, and making investors aware of blockchain technology. Labeling itself as the DOGE killer, the meme coin has seen a price surge of nearly 900% over the past two weeks. 

Shiba Swap, its decentralized exchange, has listed and incentivized SHIB as its first cryptocurrency token. It is powered by the Ethereum blockchain, making it an ERC-20 token. 

Edward Snowden, in full Edward Joseph Snowden, of age 38 is an American intelligence contractor who came to news in 2013 for revealing the existence of secret wide-ranging information-gathering programs, conducted by the National Security Agency or NSA. Snowden has been very critical of the new stimulus plan that has been made by the Biden Administration. 

When President Joe Biden proposed the 6 trillion dollar budget in May, there were multiple speculations of the manner in which things could go thereon. Everyone was waiting for how this proposal will affect the crypto market. 

There have been mixed sentiments about the latest budget as concerns were raised on how it may influence the market in a general sense. If we talk about the budget in nutshell, the amount of tax that will be derived from the wealthy people in America will be used to fund the educational and transport infrastructure. 

The proposal will also increase public expenditure to a level that we may see the highest level of expenditure since the world war. Now, that sums up why the bill was being criticized by such a huge number of people. This is where a tweet came from Edward Snowden, who has always had a very different approach to things. 

What edward snowden revealed about shiba inu

Have a look at one of the tweets that he posted as soon as the budget was proposed by Biden. The only thing that it said was, “6 trillion dollars? This is good for Bitcoin''. This comment has a lot of meanings hidden behind it, and a lot of experts deciphered it in their own way to come up with an outcome and, therefore, make their crypto decision. 

However, this particular tweet, posted by Edward Snowden, is nothing too complex to understand rather has a pretty simple interpretation. As the amount of money in the US economy increases, the value of Cryptocurrency will go up. However, this will increase inflation and the dollar will start losing its value. This may not be a good sign for the US economy. Therefore, will certainly ruin the entire US economy at a very fast rate. 

Not only Edward, Robert Kiyosaki, the rich dad author, also share the same thoughts about the printable economy. It is a strong statement to say that, as the US economy starts sinking, there are high chances that the cryptocurrency rates may go higher. This means that a fall in the economy will benefit the crypto market!. But not only the crypto, but it will also benefit the gold and silver prices. What are your thoughts about this?, Do let us know in the comment section below. 

We all know that Being an ERC-20 token, Shiba Inu reflects the price pattern of Ethereum, So if the price of Ethereum goes up, Shiba Inu will also get its value. Even though we still aren’t at the top of the market prices that Shiba Inu was at, we may still be able to gain back to the initial levels of the price mark that we have seen in the past. 

So if we say Shiba is going to die?. No, it is not. Shiba will surely bounce back as It is just a reflection of the whole crypto market crash. As soon as the crypto market recover, Shib will also gain its heights. But does Shiba has the potential to hit $0.01 or 1 cent?. In the Short term, it is quite impossible to reach one cent due to its large token supply. 


Also Read: What Binance Just Did With Shiba Inu And Why SHIB Will Hit $0.01

Because if we take the case in which 1 token is worth 1 cent, the Shiba Inu market cap will cross the entire world economy, which is impossible to achieve for now. But, if Shiba Inu developer comes with a plan to burns a huge amount of supply. It will create scarcity and prices will rise with the increase in demand. 

Also, Shiba Inu's own swap interface Shiba Swap is live, and developers and the Shiba Inu community are so active, it is not going to die. So the conclusion is, it is not going to hit 1 cent soon but has potential to hit in next coming years. Also, if economic inflation increases, Shiba Inu will definitely show a price hike along with other cryptocurrencies. 

Moreover, if few catalysts like listing in major Decentralised exchanges, or celebrities come and join shibarmy with social support, the price will also show a green surge. So, in short, Shiba Inu is still a Millionaire maker coin. With this, we have come to the end. 

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