Home Shiba Inu Power of Collective Action & Memes

Power of Collective Action & Memes

The proverb "as above, so below" may appear unimportant when read casually.

Shiba Inu Price Prediction & Market Expectations iBase Trading.
iBase Trading Crypto News

The proverb “as above, so below” may appear unimportant when read casually. However, given the current state of the world, it could not be more apt. SHIBA ($SHIB) plays a microcosmic (those as mentioned above, “below”) function in a more extensive network of internet groups seeking to restore their financial independence. We are confronted with a pandemic, shuttered economies, and an ongoing devaluation of our currencies caused by excessive money printing. SHIBA has stepped onto the stage in the face of all of these hurdles.

Financial successes by online organizations

Organizations such as WallStreetBets on Reddit financial successes over significant hedge funds with large wealth warehouses were no match for collective action’s force. Shiba can do the same against all of the large institutions that have invested billions of dollars in Bitcoin as a store of value.

Advertisement

We, too, can reverse that dynamic in our tiny sliver of the internet. I want to go over a Wall Street Journal story I read about Keith Gill or DeepFingValue. He is the so-called leader of WallStreetBet’s subreddit and provide some parallels and remarks. This I believe would be of interest to the Shiba community. It would be beneficial to understand how we are all interwoven in this struggle.

Keith Gill and his GameStop Investment

Keith had no intention of taking on the entire system and achieving global renown. “I was not expecting this.” He was merely an investor who desired that other investors recognize the “worth in undervalued stocks.” The analogy here is that unloved stocks are like meme coins in our area. Our origin stories are inextricably linked. Shiba, like GameStop, was dormant for six months before its current dramatic surge.

Keith successfully checkmated traditional financial markets and developed financial markets and hedge funds on his own. Through his live streams on YouTube, he encouraged numerous of his Reddit followers to persevere until success was theirs.

Keith began investing in GameStop in June 2019, when the stock was trading at $5. The article said he would broadcast his five- or six-digit earnings and losses via his live stream, but he never sold. If you do the arithmetic, it took him a year and a half to see GameStop’s latest spectacular gains at $347 per share. Then it plummeted once again. While the tale is unfolding here and the subreddit community has suffered some setbacks, the Shiba community’s stake in this struggle is exponentially more substantial due to the microcosm in which we fight.

In Conclusion

We are waging war in a decentralized environment. That subreddit is engaged in a struggle for control in a centralized environment. This is why we concur with the unknown developer of SHIBA, Ryoshi, that Shiba’s expansion should not focus on centralized exchanges. It provides these massive groups the same leverage over Robinhood’s GameStop traders. That is why SHIBASwap is critical to our future growth. Not being listed on centralized exchanges also allows users who are not whales to gradually increase the amount of Shiba in their bags. At the same time, we organically extend our zone of influence and volume.

Those in this field have historically lacked the cash, timing, and experience. These are necessary to accumulate the cryptocurrencies with the most significant gains to date. Today, tomorrow, or in years to come, the SHIBA community may find the triumph. It seeks in the same way those coins did. We will require individuals similar to Keith Gill’s Reddit followers to join the SHIBA pack and help us increase our reach. If it can be done via social media on Wall Street, it can certainly be done in the cryptocurrency arena. Given that SHIBA is a meme coin, it seems natural for it to conclude with a meme.

“The views and opinions on this Crypto News Website are solely those of the authors and contributors. These views and opinions do not necessarily represent those of iBaseTrading or its partners.”

Advertisement
Previous articleJanuary 2021 Community Update
Next articleDogecoin Soars 59% with Elon Musk’s Tweet
Tanya Smith is an editor at iBaseTrading. With M.A. in Journalism and Mass Communication, she is pursuing her dream of creating a positive difference in the media industry. She also enjoys Fashion and Travelling.