Anyone who has been paying attention to the crypto world has almost certainly noticed the explosion of meme coins following the lead of DOGE. I’ll admit that I never thought DOGE would go anywhere, but it did. I considered it a sell signal for all crypto when someone told me they were buying DOGE, which tells you how little I thought of it.
Today’s hottest meme coin is not DOGE, but another Shiba Inu related coin aptly called Shiba Inu. The symbol to trade it is simply SHIB. In addition, it has a buddy coin called LEASH that seems to be less popular but more valuable on an individual basis. The SHIB creators made 1 quintillion SHIB and 107,000 LEASH. The numbers are a little extreme, although 1 LEASH would have been truly extreme. Both coins were made in preparation for a token swap environment known as Shibaswap, where SHIB and LEASH can be staked to provide integrity; or be used for the liquidity pool on Shibaswap, ensuring that there will be plenty of coinage available to make the swap a success.
SHIB blew up. The developers seemed to have been broadsided by the coin’s popularity when they suddenly found themselves creating a swap to serve hundreds of thousands of investors right out of the gate. The token’s popularity caught them by surprise and made them realize that they were engaged in a serious enterprise rather than some meme coin game.
Someone claiming to be a SHIB spokesman has reported that Certik, a crypto software auditing outfit, has done the audit, and they are ready to release the swap. As I type this, the Certik website says that the audit is underway, so the news is not entirely clear at this point. Regardless, they went through the trouble of seeking an audit, which has helped to give a degree of much-needed respectability to a project developed by an anonymous team. Despite the confusion and poor communication, investors have remained with SHIB and held flat following the initial dip while other cryptocurrencies continued to sink. Everyone is now waiting for the Shiba Inu team to publish their new WoofPaper (Whitepaper, which describes how it works).
SHIB is turning into a worldwide phenomenon for a new generation of crypto investors. The SHIBArmy and SHIBAdults subreddits are filled with investors from all of our populated continents. It is as if WallStreetBets grew conjoined limbs that sprouted into a new tree with roots made for a new kind of soil.
Now, the SHIB world waits to see what will come of this much-hyped coin. If past swap launches are any indicator, the SHIB price should swell like the thunder of Bach from a pipe organ when Shibaswap launches. Tens of thousands of new investors have recently onboarded with their own SHIB holdings. The anticipation in the air is thick while speculators trouble themselves over the possibility of jumping in too late or jumping into something that will crash and burn. The SHIB Hodlers, as they are called on Reddit, call the worrywarts “paper hands,” while those who can withstand any crash and hold on to any investment while their life savings go caput are called “diamond hands.” They are the yin and yang of the investment world. Bulls and Bears meet for this one great showdown that has the potential to move the entire crypto market, albeit nowhere near as much as one of Elon Musk’s mostly useless, self-serving shitposts on Twitter.
The crypto world is waiting for the launch of the year. There is no telling what Shibaswap will become, but we know that it will either head to the moon in the hottest Lambo ever made; or crash worse than Boeings’ biggest mistake.