We’ve all read the stories. First it was GameStop (NYSE: GME) then AMC Entertainment (NYSE: AMC) then other short squeezes that made many an inexperienced retail trader into a millionaire. Then, when DogeCoin blew up and made even less experienced traders even more money (yes, there are losers including me), the investment world nearly pulled its hair out. So-called “dumb” money had beaten “smart” money, yet again. But when the crypto coin Shiba Ibu, another meme coin using dog imagery, rocketed to the moon, I couldn’t help but scold my own little terrier as if she were somehow to blame. To wit, if you invested $100 in SHIB when it was buyable on August 1, 2020, your investment would be worth over $14 million.
What’s dumb about that? Everything!
Don’t Hate the Players—Or the Game
Now, it’s easy to be envious of the retail players who made millions overnight for buying a worthless “coin” featuring a dog because, well, people like dogs. It’s also easy to be happy for them. And it is even easier to hate the game itself and make the argument that this kind of casino investing will have such a corrosive effect it will erode the very foundation of public markets, resulting in a world in which it becomes impossible to make sound, long-term, low-risk investments.
But that’s not true and it doesn’t seem to be happening. Companies that are performing are seeing their stocks rise—along with many companies who are not performing, for that matter. So if you are like me and you missed the boat on Doge and Shibu and other forms of investment insanity, don’t beat yourself up and don’t change your investment strategy wholesale—simply alter it. In other words, keep the Microsoft (NASDAQ: MSFT) shares, but slice off 10% of your portfolio to buy as much and as many dumb coins and short squeezes you can. One is bound to hit.
So, what’s next for Shiba? Well, I bought $10,000 worth and I’m down 20%. A mistake, most likely. But all it takes is one tweet from Elon Musk and the thing will shoot back up—though not nearly as high as it had before.
Playing Dumb: Where to Find the Next Shiba?
There are a few crypto coins that may take the spotlight from Shiba. Some are meme coins with little to no purpose and offer little to no applicable advantages (like Shiba), and others may actually possess competitive advantages as compared to other coins. Solana is one such coin, as is Avalanche. Then there is Fetch.ai, a machine-learning platform for applications such as asset trading that many crypto “experts” (the smart kids in the dumb money class), think is the next big thing. These three coins offer something “tangible” by comparison to the meme coins to varying degrees.
Then there is Samoyedcoin which you need to add to the list. Why? Because it also bears the cuddly face of a cute dog. And—not that it really matters—it offers transaction times of less than one second on the Solana (CRYPTO: SOL) blockchain network, making it far faster than either Shiba (CRYPTO: SHIB) or Doge (CRYPTO: DOGE) (the former of which runs on the Ethereum (CRYPTO: ETH) network, the latter runs on its own network).
But do you really need to know this or understand what the other coins do or offer in the way of any competitive advantages?
Don’t be daft. Of course, not. Just buy them. All of them.
Because it’s a dumb dog eats dumb dog investment world, after all.
