Terra Officially At 0 As Analysts Predict Shiba Inu Could Be Next
Back in March of 2008, the global stock markets didn’t really stop in their tracks when Bear Stearns collapsed. The fact that then Daily Show host Jon Stewart made a segment laughing at Jim Cramer was enough for a wry smile but then it was back to business.
More comfortable at $2
As Stewart notes in this legendary video (skip to 1.47),
Of course, while Cramer wasn’t giving up on Bear at $69, the stock market was more comfortable with it at ….. $2.
However, when a few months later Lehman Brothers (a much bigger financial institution) suffered a similar fate, the world did take notice and the global financial crisis was unleashed on an unsuspecting public.
The role of laughing at Jim Cramer’s stock picks in this market has been taken over by WallStreetBets by the way who have made a sport out of doing the exact opposite of what Cramer advises in 2022.
Jim Cramer gave his "Magnificent" 7 stock picks in Jan 2022. Here's how they have performed so far YTD:— Keith Waterman (@KeithH2Oman) May 12, 2022
- Netflix: -66.88%
- ROKU: -59.85%
- PayPal: -51.17%
- Peloton: -48.35%
- Square: -35.21%
- Zoom: -44.23%
- Tesla: -16.96%
Over 1mil views. Get a process or get off TV please
Crypto commentators now claim that the collapse of Terra this week (which is now officially trading at zero (0) and has halted it’s blockchain), could be a Bear Stearns moment, and that more possible Lehman Brothers crypto coins could be next.
The Terra blockchain has officially halted at block 7607789.— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) May 13, 2022
Terra Validators have halted the network to come up with a plan to reconstitute it.
More updates to come.
For proof, take a look at Fintwit News, who have some 130,000 followers on Twitter. Paraphrasing Stewart’s famous line, they said this week:
If you invested $10,000 in Luna last week, you now have …..$2.”
Gamestop --impressed with the short bust... Wall Street Bets— Jim Cramer (@jimcramer) January 21, 2021
Mainstream media points to Tether as a possible next victim (Tether momentarily lost it’s peg to the dollar earlier this week) while others think Shiba Inu, the biggest memecoin of the second half of 2021, could be next.
The first half of 2021 was of course the time of Dogecoin. With Elon Musk presenting SNL and talking about the memecoin on a global television program, eager buyers pushed the coin’s value to 75 cents in the weeks before his appearance.
The second half of 2021 belonged, in terms of memecoins at least, to the copies of Dogecoin, of which the most prominent one was Shiba Inu
It went so far as to create a millionaire out of a man who invested several thousands of dollars as from the start.
This year however, the tables have turned and Whales who were once holding Shiba Inu are now selling the coin. SHIB has dropped more than 30% over the past 7 days. But Shiba Inu has not just started plummeting in the current bear market. The coin has been plunging over the past 6 months already. Is SHIB next?