If you’re on a mission to get to the moon, the latest meme coin Chibi Inu (CCC:CHIBI-USD) is not the way to do it, even if the team behind it means well.
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Chibi Inu is the latest and “greatest” dog-themed, charitable meme coin that subsists solely on hype and repetition of a few key phrases in all its social media posts.
Now, let me get one thing clear.
It is perfectly plausible that CHIBI ends up not being a scam or “rug pull.”
We aren’t talking you out of buying Chibi Inu tokens because we think it’s a scam.
It certainly could be a money grab. But, there are other reasons why we don’t see Chibi Inu or similar cryptos as promising opportunities.
Basically, if CHIBI isn’t a scam, the developers and community managers aren’t doing a good job at creating a sense of value or novelty outside of the hype.
Crypto Projects Must Innovate to Survive
At some point in the future, cryptos will need to prove themselves in some way before real investors start piling in.
Imagine if Ford or Apple did nothing to prove themselves other than post “TO THE MOON” on their social media outlets once — or more — per day.
In the current crypto ecosystem, all a crypto creator needs to do to find success is mention “the moon” alongside some rocket emojis and set their coin’s starting price laughably low.
A low price leads bystanders to believe there’s plenty of room for the price to skyrocket. And soon, individuals looking to make an easy 100x or 1000x will flock to the cryptocurrency in droves.
Will people make money from Chibi Inu? Yes.
Will other people get burned by selloffs? Also yes.
Chibi Inu Isn’t Special
The more important question to ask yourself is whether you imagine a crypto like this providing tangible value in a manner that is not already being addressed by a different crypto project.
There could very well be room for more than one dog currency in the long term. That would be fantastic. Dogs are wonderful.
But, if we’re being honest, we believe every new uninventive dog-centric meme coin only further dilutes a diminishing pool of starry-eyed investors. And there are plenty of far more dedicated, experienced and well-funded teams actively developing superior crypto projects that will dominate in the future.
Chibi Inu has plans for an NFT marketplace, a price of around 0.000001 cents and a few other statistics that don’t impress us when compared to other crypto projects.
I’m not explicitly saying Chibi Inu doesn’t have substance, but if one takes a look at their Telegram or Twitter, there’s very little there in terms of thoughtful insight, community engagement or discussion. This makes it hard for us to believe there’s serious, well-thought-out motivations behind the project.
Chibi Inu Coin Is Putting the Cart Before the Horse
It might seem like CHIBI’s competitor Dogecoin (CCC:DOGE-USD) appeared out of thin air, doing the same things Chibi Inu is doing now. But, in reality, this couldn’t be further from the truth.
Doge was birthed as a joke and gained traction in 2013 in a meme-filled Reddit community whose members tipped generously — “Only about a week after launching, Dogecoin became the second-most-tipped currency, the engineers told Insider.”
Chibi Inu, and a vast majority of other small market capitalization cryptos, fake it until they make it — they pretend to have a community until they actually end up forming a community. But this manner of community building leads to the inception of communities obsessed with profit and holding onto tokens forever — or selling, but not telling a soul.
Communities can bring coins out of their initial obscurity, but many alt coins pretend to have any semblance of a genuine community behind them from the get-go.
On their official website, Chibi Inu states the following:
“$CHIBI has a team of both professionals and community volunteers constantly working behind the scenes on updates, partnerships, social media, and more. As you can see, this has worked very well and we will continue increase our efforts.”
Who is their team exactly? Where are the community volunteers mentioned?
They certainly aren’t in the Chibi Inu Telegram channel, where not a single message seems capable of straying from the subject matter of lunar-motivated space travel.
And whether charities and shelters will benefit from Chibi Inu is also to be seen. Telegram messages hint at a donation having been completed, but the team makes zero mention of any charitable donation on their Twitter.
You would think publicizing this notable milestone would be a priority to the coin’s team, given that their website states upfront that “Chibi is primarily made to help dog shelters.”
Bottom Line on Chibi Inu
So, just to recap:
People will find a way to make money off of Chibi Inu. And people will lose money because of it as well.
Whether someone wins or loses depends on when they buy in and when — or if — they sell.
There’s nothing innovative, at least for now, behind this cryptocurrency.
So, with no technologically-interesting backing, and an army of money-hungry investors, it’s all a big gamble.
Only give Chibi Inu your attention if you’re aware of the risks involved.
It can’t hold a candle to Dogecoin, but it’s claiming to be better.
And while Doge can be seen as being a similar crypto, it has a lot more going for it. It’s been around for far longer, initially thrived because of its actually-existent community and was the first-mover in this bizarre, dog-themed crypto territory ecosystem.
To us, there’s just nothing of substance to this generic meme coin.
There are dogs involved, and the price of each coin is exceptionally low. So, naturally, everyone is looking to get in on the action.
Everybody wants to get in on the ground-floor of projects like this one that seem poised for a vertical takeoff.
But that isn’t how the future pans out most of the time for these kinds of projects.
It takes hours, if not days and weeks of research to find hidden gems that someday will surface. Spending a few minutes looking at trending meme coins and deciding which to invest in based on their mascot is not solid investing. It’s FOMO-ing into a project that could be nothing more than a mirage.
The key to striking it rich in the crypto market right now is to buy the right cryptocurrencies – the most technologically-advanced cryptocurrencies with the most value-additive applications.
And we are finding a few cryptos that we think – thanks to their technological superiority, clear value-props, and widespread use-cases – will be enormous winners over the next 3, 5, 10-plus years.
My team and I are currently doing the hard work of sorting through these potential cryptocurrencies and highlighting the best ones … the cryptos that will weather the coming cryptocurrency crash and emerge from it ready to soar 10X, 100X, or 1,000X over the next two decades.
Over the coming weeks and months, we’ll introduce these cryptocurrencies to Innovation Investor. But you don’t have to wait to sign up, as we’re currently covering the most hyper-scalable companies within the world’s strongest emerging megatrends right now. Blockchain is just one part of the picture.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this video.
By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s the theme of his premiere technology-focused service, Innovation Investor. To see Luke’s entire lineup of innovative next-generation technology stocks, become a subscriber of Innovation Investor today.