Shiba Inu - because I love dogs
I heard Eric mention something about Shiba Inu during lunch later in the week, and being the dog-loving girl that I am, I started looking up more about this crypto. It was so dang cheap, and yep, cheap is totally within my budget. I opened a Coinbase Pro account since I can't buy SHIB on Gemini, deposited $700 into my account, bought $200 worth of SHIB coins over the course of a couple of days as I could see it was climbing (this amounted to over 4.5 millions coins), and bought $500 worth of ADA (Cardano).
A day later, SHIB activity looked a bit crazy, it was making the news on it's meteoric rise. I became obsessed with watching the Coinbase Pro graphs scroll green and red. What's going on? I ask Eric. He tells me he sold some of his coins because it seems like the Doge coin incident all over again. Joey and Eric both told me to dump my initial investment and just keep what's left over because it's probably not going to last. I learned a new phrase, "Whales". No, not those big sea mammals you get on a boat to go see, but a term for people who own massive amounts of crypto and can manipulate the market because of it. Some whales were probably buying large amounts of SHIB, spiking the interest and the value. Two hours I sat, mesmerized by the graphs going up but then I saw it start to go down. I was told to sell and now I'm in panic mode because I can see the value dropping and dropping and more selling than buying. In my panic, I sold enough coins to get back my $200 investment, so no loss.
As of today, I'm still at a gain on SHIB of over $100. Am hearing news about a new coin called Floki Inu, which is also going up. It's named after Elon Musk's dog. Let me tell you, not only do I like dogs, but I like Elon's dog because I own Tesla shares, which I bought before it split in 2020, and it's about the only wise investment I ever made that I actually put a bit of money into. Tesla is going through the roof right now, with the Hertz news of Hertz placing a large order for Teslas for 2022.
The problem is, Floki is not available to buy on Gemini or Coinbase Pro. *Sigh*. I really hate the idea of putting my bank information in more and more websites and apps. I think I'm going to mull over this one. In the meantime, buying more Tesla stock seems really tempting.
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