Dear Shibizens and Shibarians,
Let’s talk about $SHIB, $BONE and $LEASH today, in particular what makes them tick. 🕰️
It will be a bit lengthy (ok – very lengthy 📜but also informative and hopefully worth your time – and if you make it to the end there is a cute Shiba Inu Ice Age squirrel waiting for you🐿️) so brace for impact. 🧠🤛
(If you don’t have 20 minutes in peace and quiet to spare now – better bookmark this post and read before bed time – and if I save you a sleeping pill – thank No One in the morning) 💊😴🤭
A lot of us are feeling the pain with the rest of crypto market seemingly thawing from a long winter 🌱 while we are still in the “ice age”. 🥶
In times like this the wisdom of Ryoshi always helps me.
“So this is where we are, price goes up people HAIL THE SHIBA, price goes down people cry ‘ADMIN WHY DUMP’.”
As with any good or service – the price of a token is determined by supply and demand (not by the invisible Dev hand as some may think). 🤏📈
The supply of Bone and Leash are fixed with keys thrown out of the window. 🪟🗝️
So, there is nothing we can or should do here. I have already discussed in great detail the issue of supply of Shib and the Shib burns. 🔥
Do take your time to read it to get the complete picture (if you haven’t done so already) here:
Now let us focus on the second part of the price equation 🔢- what influences the demand of a token (I thank ChatGPT for the general outline of the principles while the application of them to Shib ecosystem was No One’s fault). 🤭
1. Market Perception and Sentiment 🤔
Public perception and sentiment can significantly impact demand. Positive news, endorsements from influential figures, and favorable regulatory developments can boost confidence and attract more investors.
What Devs did: Manny Pacquiao Foundation (@mpac_foundation ) utilizing #Shibarium. Influential enough? 👀 🫠
As crypto knows no borders – by providing support to amazing causes – Shib not only generates transactions on Shibarium – but more importantly – it creates a tangible positive impact on the world, reaching people who need it the most. Such causes benefit from @Shibtoken’s name and reputation as a force for good and #SHIBARMY power as much as Shib benefits from them. India Covid Relief Fund is another example of how $Shib made an amazing impact on the world (thank you @VitalikButerin for your big heart 💗).
2. Utility and Use Cases 🛠️
The utility and practical applications of a cryptocurrency play a crucial role. Cryptocurrencies that serve a specific purpose or offer unique features may have higher demand. For example, if a cryptocurrency facilitates faster and cheaper cross-border transactions, it may attract users seeking that functionality.
What Devs did: Built Shibarium with ±0.0002 $BONE transaction fees (at the time of writing) and the possibility for developers to subsidize gas fees for users of their dApps. Developing ShibaSwap 2.0, Shib the Metaverse (@mvshib ), Shiba Hub, Shiba Eternity 2.0 (@shibaeternity ) to name a few – with various uses of all ecosystem tokens to come.
3. Scarcity and Supply Limitations 💎
Many cryptocurrencies, such as Bitcoin, are designed with a capped supply. The perception of scarcity can drive demand, assuming that as demand increases and the supply remains limited, the value of the cryptocurrency may rise.
What Devs did: Shib, Bone and Leash supplies are capped by design at specific levels. Shibarium was built to convert part of Bone gas fees into Shib and burn it when the amount reaches $25k, making $SHIB a deflationary token.
4. Technological Development 👨💻
Advancements in the underlying blockchain technology or improvements in the cryptocurrency’s protocol can enhance its features, security, and scalability. Positive technological developments can attract more users and investors.
What Devs did: Developed Shibarium L2 blockchain on top of Ethereum (in collaboration with experts from Unification @UnificationUND) using advanced features of Polygon network (@0xpolygon ) as the foundation and molding it into a network purposed for Shiba Inu ecosystem needs on which our future Shiba State will be built.
Future-oriented features like Shib Name Service and Shibdentity are ingrained into the fabric of the ecosystem, ensuring unparalleled privacy, data protection, and control in the hands of Shibizens and Shibarians while advanced DAOs, Councils and Institutions will form integral parts of the Shiba State governance and operations.
Shib the Metaverse being built on the latest Unreal 5.1 engine, encompassing the latest developments in graphics and VR technologies, will become the virtual homeland of our Shiba State, housing a myriad of businesses, entertainment and gaming activities as well as locales to socialize and ShibYards to truly call your second home. 🏠🥽
Partnering with leaders in fields of blockchain, AI, finance, gourmet products – utilising pioneering innovations to guarantee Shib ecosystem always stays at the forefront of technological revolution. 🤖
5. Regulatory Environment 👨⚖️⚖️
Regulatory developments and government policies can significantly impact demand. Clear and favourable regulations can provide a sense of security to investors, while uncertainty or negative regulatory actions may lead to a decrease in demand.
What Devs did: While Devs have no control over the regulatory developments – having amazing foresight – Ryoshi ensured that the Shib token was created in a way that until now allowed us to avoid being classified as security by the SEC and other authorities. Devs and their legal team are following latest developments to steer us through the legal minefield while developing all things Shib.
To learn more about SEC and securities, read this post:
6. Adoption and Integration 📲
The level of adoption and integration of a cryptocurrency into real-world applications and businesses can affect demand. Partnerships with established companies, acceptance by merchants, and increased use in various industries can drive demand.
What Devs did: Showcasing the Shib ecosystem and its benefits on the global stage (like Eth Toronto). Engaging developer community by running Shib hackathons with sizeable prizes.
Onboarding thousands of people on Shibarium seamlessly and effortlessly by using “The Shib” Magazine 📰 and the power of Shibarium to create Shibwallets 👛 for them with a sign-up process simpler than Facebook or LinkedIn and allowing them to mint their very first NFTs on Shibarium (even sponsoring the gas fees for doing so) while spreading the Shib word to masses and shining the light on various Shib community projects and personalities which are doing their bit to advance Shib development, adoption and education.
7. Market Liquidity ⛲️
Liquidity in the cryptocurrency market, which refers to the ease of buying or selling without causing significant price fluctuations, can impact demand. Higher liquidity often attracts more traders and investors.
What Devs did: By creating Shib token with high supply, low price point and a cute image, Shib founders ensured that the token has great affordability and appeal to millions of people owning the token on exchanges and in self-custody wallets. Shib is regularly among the most traded assets on CEXs and DEXs – ensuring a willing seller is always matched with an eager buyer. 🤝
8. Macro-Economic Factors 🎢📊
Economic conditions and macroeconomic factors, such as inflation rates, interest rates, and overall economic stability, can influence cryptocurrency demand. Some individuals may turn to cryptocurrencies as an alternative investment during times of economic uncertainty.
What Devs did: While Devs have no control over global economy (Yet… One day, Shiba State GDP will surpass many real-world countries… When G20? 😉), they are taking great care to follow all developments in this area and time the releases of the Shib ecosystem products to maximize the impact of such releases on Shib asset prices and demand.
9. Media Coverage and Hype 🎙️🗣️
Media coverage, both positive and negative, can significantly influence public perception and, consequently, demand. Hype and speculation can drive short-term demand but may not be sustainable in the long run.
What Devs did: Being the lead sponsor and hosting the closing party of Eth Toronto (or should I say Shib Toronto? 🤭), showcasing all areas of Shib ecosystem and its partners to crypto community and the world. Shiboshis on Times Square ad. Engaging with social media influencers, news outlets and the community. Launching “The Shib” Magazine which covers all ecosystem news, projects and initiatives. 📰
Now I want to remind us that Shib has been created with no external funding (apart from 10 Eth donated to Ryoshi by a wealthy friend), no hundreds or thousands of devs and supporting staff like in other corporate projects funded by venture capitalists – only a small team of volunteers who spend an incredible amount of their time and efforts to bring all that I just described above to life.
Then, suddenly, a deep appreciation for everything that they do appears and the “wen’s” and the “why’s” start to seem inconsequential, inappropriate, or even rude.
We are playing the long game here and daily price fluctuations will be a mere blip in the grand scheme of Shiba State.
Because Shib is by the people, for the people, and of the people.
No one has the keys to Shib, Bone or Leash.
They belong to all of us.
And they are our responsibility to protect, cherish and develop.
The Shib Devs are building the infrastructure of the future Shiba State. It is up to every single one of us to breathe life into it by building, utilizing and promoting it.
And Ryoshi said:
“The result of this is that you are responsible. When people ask me questions with expectations, I always send the question back to them. Ok when are you going to do this thing that you just asked me? This method makes some uncomfortable, because of inherent pre-womb entitlement issues in which man does not take responsibility for themselves, rather they look to an outside source to give them boom and if no boom, then to cast blame.
Also the greatest lover is later the greatest hater. Try not to love nor hate, just experience and do.
Thankfully, there are some that had the ears to listen and heard the call and effect became Shiba with us. Some are named and you know some are unnamed and equally important. What matters is that we are united in the core of the vision, being Shiba as the pure actualization of a decentralized and perpetual community.”
We are no longer just #SHIBARMY – we are Shibizens of the great Shiba State! 🫡
So, let us come together and build up our nation, passing the helping paw to those that are in need and spreading the kind Shib word to the world. 🌍
Be Shiba! 🐕
Ice age will end and all the seeds that we are planting now will sprout like Jack’s magic beans taking us to the sky.
