First everyone wanted the next dogecoin and then we got shiba inu and now shibino has had its meteoric rise surging into the top 10 cryptocurrencies and everyone wants to know what's the next shiva so in this video we'll take a look at two projects that tout themselves as the next shiba inu we'll see if they have what it takes to.
Compete with the top dog but first everyone wants the next shiba inu but is the next shiba inu really just shiba inu part 2. we had this huge amazing rally over the past couple of days as you can see the chart right here guys but look is it really over i don't know let's take a look right here as you see we've moved up.
Considerably with the big move coming on october 27th and really this huge surge upward was in my opinion directly related to the coinbase outage right like you had a lot of people trying to get into shiva inu coinbase which is the biggest supplier for cryptocurrencies in the united states especially shibuya it is one of the only.
Ones listing it here in the united states if you wanted to obviously could go on unit swap but i looked at that time when coinbase was out uniswap gas fees on the ethereum network were close to 200 250 for a transaction so just absolutely insane and coinbase being down really.
Led to a sharp increase in price when coinbase got online you saw the price continue to go up because people were finally able to buy and sell but then we've seen a little bit of a decline recently but look hey as we move into october 28th look this this really important line in the sand in my opinion is this 716 right here and that is.
Considered the pivot point for shiba inu right now and pivot point is just basically the previous high plus the previous low plus the previous close divided by three so it's an average but it's a really strong momentum average so you can you know it's an indicator that shows it could continue going up or is this probably reached the top and might.
Shift downwards so this 716 is a number that i'm looking at for shiba inu and look if it does breach this level of the 716 close above this we could move up to this first resistance level in my opinion which is this 963 previous roaming got up to about eight eight is where i saw it but this level of 963 would be in my opinion the next level of.
Resistance failing however to breach this level of support this pivot point of 716. look you're looking now at retracement levels right you have the first major support level at the 544. you can see this on the chart a little bit of support we've seen at 544 but beyond that you're looking at you know if we cut all the way down here.
To the 62 fibonacci retracement we could move back down to this 37 level and i don't think that is out of the ordinary i made a video previously that said you know we could look you're not going to shoot up at a thousand percent forever obviously there's going to be some profit taking and things like that but look if you.
Look over here i don't think it's all bad there's some things that i like with sheba and there's some things that you know they need to work on and i think we can all come and agree on that as we look at it here but look this is one thing right here why is sheba up a hundred billion whatever percent over the year and if you look at this article.
Right here really lays it out and i think this is what she has tried to try to accomplish and they've been very successful so one the herd mentality right this is very popular crypto whether it's dogecoin cardano any of the ones where you know strong community strong community backing and almost this cult-like.
Following you get this heard mentality and this you know you can see with their discord channel their twitter constantly growing their telegram which is absolutely horrible don't go in the telegram unless you just want to have a headache a bunch of moon boys in there but you also have the ship prices cheap and.
This shouldn't be a factor but it is especially with crypto investing especially with retail crypto investing people for some reason they like buying a lot of something they like that mentality that if this goes to a penny i'm a millionaire and hey look it is a mentality that has worked before and seemingly is working again if you scroll.
Down even further related to doge right and they're really hitting it on related dose so doge enormous success right no one can doubt that if you're a holder you're not a holder you like elon you don't like healing no one can doubt doge enormous success so relating it in a more trendy fashionable youthful younger way has been very very successful for.
Shiba inu and then because of the success you've had exchanges kind of rush in with robin hood being really left behind and robin hood investors and users coming and coming at robin hood and putting this petition in place so look you have all these things in place plus coinbase goes.
Down which just leads to a absolute surge and now everybody is talking about shiba inu which is good i mean when my mom is asking me about shiba inu that means something's happening she wants to know where she can buy it that's means you know people are talking about this it could mean it's the time to tell but no people are talking about this so.
This one thing though does concern me a little bit as sheba soars we look here 20 holders hold 75 percent of the cryptocurrency and that's not good when you talk about cryptocurrency one of the things we like is distributed ledger technology and decentralization when you have the top 20 wallet addresses owning 75 percent it actually.
Gets a little bit worse when you look here 72 percent is held by 10 wallet addresses so the top 10 holds 72 percent of this cryptocurrency not great right so that should change hopefully but what that essentially means is when you have a you know a large number of the tokens being held by a few number of wallets that means.
One of these wallets could seemingly you know crash the market now you do have to point out here that in these top 20 you have binance and you have coinbase and you have these these big liquidity providers but hey that's still not a great number here so you would like to see that number you know conversely when you look at bitcoin.
Bitcoin whale concentration is far lower 14.65 and look block stats has it at 11 so when you consider 75 to either 14 or 11 very very different numbers when you take a look at shiba inu versus bitcoin and i only really compare it to bitcoin because a lot of people are it's a very common thing to say shibuya is going to a penny but look should that happen it.
Would flip bitcoin so you you would have to make the comparison there guys so i you would like to see it get more decentralized you would like to see some of these larger wallets kind of you know distribute but again again some of them are exchanges as well all right so that's some of the news good and bad regardless technical analysis regarding.
Sheba on october 28th let's get in and talk about two projects that are entitled themselves as the next sheba eno so the first one we'll take a look at over here maybe you've heard of it it's called floki inu and floki inu named after the shibuynu of ilonma so getting a little bit ridiculous in my opinion but hey they do put in here that.
They are also connected with his brother kimball musk and they're also trying to do some charity work as well but there are some good things here and there's some things that i just don't understand here one of the things that i do like is this token is available on binance smart chain and ethereum and the reason that's.
Good is because obviously ethereum is not usable right now i went in and i was looking at ethereum fees to try to swap some eth just for research purposes toshiba like i said over 250 at some points in ethereum gas fees so look it's absolutely insane to pay that much but if you can buy it these tokens on pancake swap whether they're wrapped or.
Otherwise you can save a lot of money on gas fees so that's one thing that i do like and they have this floki bridge where you can transfer your tokens between the networks so that is kind of cool similar to the binance smart chain bridge so that i do like but as i look into this and you can look through here earn rewards all these type of things.
They say that is a deflationary currency there are some good things here they have their audit report but as you get into like their road map there's not a whole lot of substance here like i don't really get what they're doing they tax transactions and that's how they kind of pay for their things but look finance smart chain launch they basically have.
In here how many holders they want to get and really the coolest thing in here is they're going to give away a tesla i don't they're not really doing anything they have a nft marketplace flo floki places that's gonna launch okay a lot of people are doing that right now so i i don't know they don't have the shiba swap like they don't have.
Any type of decentralized exchange the cool thing about shiva in my opinion it's not just this meme token right they have a very well it's not super developed but it's a growing ecosystem they have the shiva swap even though it's only not even a top 15 swap or decks at this point it's out there and it's available and it's looking to get.
Better when they introduce the shebarium but look they this floki doesn't have anything they just have a bunch of giveaways and how many holders they want to have by specific amounts of time so dfs and games they want to get listed on centralized exchanges okay great aggressive marketing role there's nothing here there's no substance here.
So i don't really know what they're doing in my opinion so if you look at the token a lot of the e-news were up yesterday with the success of shiba inu so it's up 84 currently trading 17 530 three zeros in front so look be careful.
With some of these that are just touting themselves because there's gonna be a lot right they're gonna be a lot of coming out enos there's already a lot they're gonna have aggressive marketing campaigns in my opinion floki inu in my opinion they're not doing much right it's just it almost looks like kind of like a meme token safe moon like a like.
A enu safe moon type of token and then the other one i want to show you guys we'll take a look at this one right here kitty inu so like i said it's just getting absolutely ridiculous kitty inu you know this one even looks more like a moon token safe moon to me because they have this whole deflationary tokenomics when you look at their token.
Almost okay 100 fair launch like it no dev wallet they basically tax all the transactions that's how they pay the devs which is cool i do think that is there's something to that 100 safe launch lp tokens were burnt afterwards they have the kitty tax which i mentioned here so one percent of lp contribution burned goes to team kitty.
All these things and but again when you look here and you get down to the road map like what are you actually doing i don't know you want to get listed on coin gecko still not listed on coin market cap you got the kitty surprise launch i don't know what the hell that is uh 25 you know it's like it's basically.
About how many people are going to be involved with this project at any given time i don't see anything here so you want to have a times square bulb that's very that's very safe moon to me so be careful with this one this one you know this one looks very very skittish to me the other thing i want to mention about.
Kitty inu which if you look for kitty ini like you just do a google search for kitty and it's not going to come up the closest thing that's going to come up is this kitty inu which is not the kitty enu if you're looking on coin gecko that's up 85 or 150 today this is just another one that's on binance smart chain this one.
Has no listing on coin gecko this one has probably less utility than the other one this has nothing here you could get this this is just shady as hell over here so be careful this kitty inu the i guess the the real one or the one that's listed on coin gecko that was up a lot a huge percentage on october 28th this one is kitty enu erc20 dot io you can get.
The address right here like i said up 147 but again crazy ass supply right here i'm like just be careful guys like sh be careful with all of these right all of these mean poachkins i'm not your financial advisor i'm not telling you to buy to sell to get in to get out any of.
These things i just want to show it to you so you can make the decisions for yourself but definitely be careful some of these are a little bit sketch in my opinion so those are two if i left off your favorite enu or meme token or coin let me know in the comment section below and if you want to know what i think could be the top cryptocurrencies.
At the end of this year leading into 2022 check out this video right here guys and until the next time be safe