Practice English Speaking&Listening with: SECRET DOCUMENTS LEAKED! SHIBA INU COIN WILL HIT $0.10 SOON, SOURCES CONFIRMED IT | SHIBA INU COIN

Normal
(0)
Difficulty: 0

SECRET DOCUMENTS LEAKED! SHIBA INU COIN WILL HIT $0.10 SOON,

SOURCES CONFIRMED IT | SHIBA INU COIN PREDICTION After such a great hike in the price of Shiba

Inu Coin. Recently, we got some interesting news related to Shiba Inu - India Covid Relief Fund.

What happened to those 50 trillion tokens sent by Vitalik Butering to India Covid Relief Fund?.

Why more than 10 trillion tokens sent back ?. Today we are going to talk about this and Further,

We will also analyze how this massive transfer will impact Shiba Inu price?.

So watch this video till the end because todays video is going to be a bomb.

Welcome to Shiba Land, your daily dose of Shiba! If you are interested in everything around Shiba,

this is the place for you! Subscribe if you want to stay update with all

the SHIB news, predictions and stay one step ahead in the crypto world. Make sure to hit the like

button for us to provide you with more SHIB news. Dont forget to enable ALL NOTIFICATIONS TO JOIN

OUR WEEKLY CASH GIVE-AWAY PINNED IN THE COMMENTS! Before we get to our topic, lets take a look at

the chart and see what the price of SHIBA is doing on 1st of October, shall we?

Shiba Inu (SHIB) price action has been forming a pennant since September 24, and it looks ready

for a break to the upside with bulls defending the black ascending trend line in the pennant.

On the upside, bulls face some resistance around $0.00000760.

In case the bull run can gain momentum, expect a further breakout toward $0.00000800.

Shiba Inu price favors bulls with 10% gain likely Shiba Inu price action is in a pennant that looks

ripe for the breakout. The breakout seems to bear some low-hanging fruit for the bulls

as they will quickly face quite some resistance around $0.00000760. In that area, the monthly

Pivot is hovering together with quite a few longer-term and short-term ascending trend lines.

Add the 55-day Simple Moving Average (SMA), and you have an extensive belt of resistances piled

up near one another that will be difficult for bulls to make a breakthrough on the first attempt.

SHIB price does not look to form a bull trap as the black ascending trend line

shows bulls are building up proper momentum, with three stopped attacks from bears to the downside.

Add the shift in risk sentiment today as the dust settles after the market correction on Tuesday.

Now lets get back to the topic. The Major news is that the India

Crypto Relief fund returned more than 10 Trillion tokens back to a wallet

address. This is about 20% of tokens sent by Vitalik butering as a donation to India.

Is this good or bad news for Shiba Holders?. Well, let's find out.

If you didn't know what this is all about, Then we need to understand what happened in May 2021?,

what was this donation about, and why Vitalik Buterin did this.

This was all started with the creation of the Shiba Inu coin with the purpose to outperform

Dogecoin. Shiba Inu Coin, launched in August 2020 is an experiment in decentralized spontaneous

community building developed by Riyoshi and his developer team. After creating almost

4 quadrillion tokens, Ryoshi did something unexpected,

which helped shib to gain popularity. A huge portion or almost 50% of the total supply

was gifted to their benefactor Vitalik Buterin. The coin's official website has also stated

that the 50% of the total supply "was burned to Vitalik Buterin" implying that the tokens have

been permanently removed from the circulation or at least it was what developers presumably

envisioned. They expected that Vitalik will not use them and half of the supply will be burnt.

No one knows if this was done to gain social media fame or to get recognition in the crypto world.

But, Vitalik did something opposite, he gave 50 trillion shib tokens (worth around $1.2 billion

at the time) to an India COVID-19 relief fund set up by Polygon founder Sandeep Nailwal. This

was done to help India to fight covid as India was suffering at peak against Covid.

This action of Vitalik acted as a strong positive catalyst and Shiba actually gained a lot of fame

at that time. Further, Buterin even urged coin creators not to send large amounts of tokens to

individuals or charities without their consent. He said that he doesn't want to be a "locus of

power of that kind". The ETH co-founder added that it is better to just print the coins into

the hands of a worthy charity directly. But, How this donation was used?. What happened to

the remaining amount?, and most importantly, How this will affect Shiba Inu's price?.

A few days back, the Official Twitter handle of "India's Crypto Covid Relief", gave information

that they have used 80% of the donation in covid relief for India and returned the balance

of 10 Trillion tokens back to an address. As per their post on Twitter, they said.

We've transferred the remaining 10.1 Trillion Shib tokens. Details of the proceedings shall

be shared over the next 5 days. They Also gave etherscan transaction details of this transfer.

After a While, They gave summary of the fund utilized and dates tokens were converted into

USD. They added that, We've converted 80% of VitalikButerin's donation for a total proceeds

of 387,683,398. The remaining 20% is also transferred to @wintermute_t (Twitter handle).

But the question arises, to whom this wallet belongs?.

Why They did not send it back to Vitalik Buterin?. As per the details in the tweet,

This wallet belongs to Wintermute. Wintermute is a leading global algorithmic

market maker in digital assets. They create liquid and efficient markets on centralized and

decentralized trading platforms and off-exchange. But, How these 10 trillion tokens will be used?.

Will Wintermute burn them to cut these token out of the circulating supply?.

Well, this is still unsure how these 10 trillion tokens will be used by Wintermute.

But, if they have a plan to burn these, then it will definitely act as a strong catalyst

for Shiba Inu and can help Shiba Inu to cut few zeroes out of the price. Not only this,

this burn action will also create social hype and more people will show interest in this coin.

Expect Shiba Inu bulls to look for the fourth test on that black ascending trend line,

so that bulls can let the squeeze do the work for them. Momentum will start to build up,

and a second attempt on $0.00000760 will do the trick. To the upside, expect the next

port of call to be $ $0.00000800. Further up, the monthly R1 resistance level at $0.00000886

would be the ultimate profit level for the bull run and a definite break of the current downtrend.

Should markets roll over again today and if more headwinds pop up toward October 18,

if the US defaults on its debt, expect a massive correction by then in cryptocurrencies.

That event could bring back $0.00000550 quite quickly.

Shiba Inu (SHIB) price action has been forming a pennant since September 24,

and it looks ready for a break to the upside with bulls defending the black ascending trend

line in the pennant. On the upside, bulls face some resistance around $0.00000760.

In case the bull run can gain momentum, expect a further breakout toward $0.00000800.

This social hype can further help to raise Shiba Inu price exponentially.

But if we consider another perspective, Many Shiba fam is saying that

Wintermute will cash out these tokens and supply will increase by 10 trillion tokens.

If this is going to happen, then we can expect a little price drop.

What do you guys think about this?. Do let us know in the comment section below.

Thats all for today. Also, we would like to mention that this is not a

channel intended specifically to provide financial advice, and we do not ask you to invest in any

company. This is merely a channel directed towards bringing educational content to your doorsteps.

With that in mind, before you invest in anything, we recommend you do thorough

wide-spectrum research on the topic. We hope you liked this video. Let us know in

the comments below if you are a Shiba holder, and make sure to subscribe and give us a thumbs up!

See you next time at Shiba Land! Bye...

The Description of SECRET DOCUMENTS LEAKED! SHIBA INU COIN WILL HIT $0.10 SOON, SOURCES CONFIRMED IT | SHIBA INU COIN