Okay folks, so we've got lots to talk about. Number One: we need to give an update on plays and the market, as well as what the hell Bitcoin's doing. I mean, this thing's going crazy. Number Two: I want to talk about something that quite frankly is disgusting and very frustrating when it comes down to Amc stock, and really something that affects us all.

As retail traders, I know something disgusting about Amc stock who would have thunk, But I think you're going to want to hear this. And then the main topic today is Sheba Coin. What is it? Why is it running and how much of your life savings should you yolo into it? The only thing that I ask in return for all of this is that you hit that ravishing like button and also don't forget to subscribe either. Okay, Sdc squeezer back again with a round two of its squeeze rally that we saw yesterday.

Stc short sellers do tend to paper hand a little bit when it comes to these uptrends, so that's interesting. Yesterday we were talking about how their smile bust which wasn't as good as the Magic School Bus patent brought in renewed momentum which was causing buyers to chase the available shares hoping to squeeze out shorts. But in terms of what this actually needs to really take off in many cases, we've seen the need to at least break previous failed resistance levels to really encourage that big Momentum trader base to start buying. that would be around 8 24 in this situation.

What we saw today was a push to that prior resistance at 670. and yes, the previous time it broke that it was huge. It rallied almost dramatically afterwards. But I'd argue a break of that isn't enough.

We need to see a sustaining of that level and then a break above that most recent resistance level. People buy things as they're breaking out, expecting them to break out more, and then when they start showing that they're going into new lows, they start losing hope until you get new breakouts, signifying a change of trend. That's usually not the best way to play it, but it is how a lot of people do play it. and also a lot of high frequency traders tend to build on momentum at resistance levels because they know other people are going to be buying at those places.

Bitcoin has been performing quite well, breaking 55k again. We did a big piece yesterday on why Bank of America is super bullish on it. I think we did a piece on Sunday as well. Um, but the point is, there's a lot that we go super in depth on Bitcoin and the latest fear flood, dysphoria as well as optimism on it, and why optimism is winning out so you can watch the last couple of videos if you want a really deep dive on it.

But basically Bitcoin has finally been killing it, and a lot of the people from earlier in the year that thought that this would be another four or five years until Bitcoin finds another momentum cycle were very, very wrong. It turns out that institutional adoption breeds, resilience and resilience breeds people buying in at huge bases. This has continued the bowl cycle on Mara. Lovely, Mara.

She's quite lovely, ain't she bt Bt has also continued its upward direction trend over our red directional Sma line that it broke yesterday. Riot has been slow. I think you can largely blame the previous dilution and fears of dilution for that. The one thing that I will say is that when it comes down to Bitcoin miners, the smaller, sketchier ones are going to run much much faster than the more stable big ones that are proven because they've already hit a large market cap and largely factored in a lot.

When you have some sketcher ones, it's kind of like you know you have the big dogs running up and then everyone's trying to buy the sketchy little ones hoping to find the next big dog. so they tend to run up a lot faster. But they also get beat down a lot faster as well. which is why I tend to think that the best plays when it comes to miners and holding with them is just buying something like Amora or Riot.

And if you're really bullish on Bitcoin itself, buy Bitcoin, And you know we've said that pretty much all year I was a latecomer to Bitcoin. I only started liking it last year, but better late than never. And really, the reason that I liked it was because of all the institutional adoption, and I've made the prediction that hey, 2021 was going to be the year where you saw a ton more institutional adoption, and that has definitely become the case. That being said, in the long, long scheme of things, I mean, this is definitely not a mature asset class, so I shouldn't even say late.

The crypto market is barely crawling wait to see what it's doing in a couple decades. But anyways, if we do get a big Bitcoin breakout, I'd expect bigger breakouts in Mara and Riot. and Ryan should damn well pick up the pace. I mean, this dilution shite needs to go and take a hike.

That rhymed. I'm a terrible rhymer. I'm a poet, but no one wants to know it. Okay, Ugabuka Amc Short interest on Amc is now near, or rather, at all time public highs.

Amc is largely stagnating, suggesting that selling pressure is met with about an equal amount of buying pressure. The big story, though, over the last 24 hours, is Representative David Scott questioning Sec Chairman Gary Gensler about how he's going to regulate retail traders on social media forms. Let me play the clip. Much has been made about Game Stock and Redick and Robin Hood and all of that.

What are you doing to protect investors? Protect our security system. It is our investment, our stock markets that must be held away from this mess. I have asked my staff to begin putting together a bill that we can have strong enforcement powers, put fines in, put jail sentences in, make it tough so we can will not allow these social media platforms to abuse the basic foundation of our great nation rest in our stock exchange. So essentially what he's saying is, hey, in terms of Gamestop, Robinhood, and Reddit Gary, what are you trying to do to protect our financial markets from who retail traders we need to introduce a bill for a stronger enforcement including jail time.

God forbid somebody shares due diligence on a stock on social Media. Life in Prison. We need jail sentences to stop free speech from interfering with our markets Because you can't have free speech. Free Speech is disgusting.

That means that people could come together and buy stocks and make Wall Street lose money. Why is it that people love free speech? until the minute that somebody uses free speech to say something that they don't agree with, and then it's like wait, wait, that's not. You're not supposed to say that and then you could say yeah, but people are using it to say stupid things on social media and elsewhere. But let me tell you, you want to have a society where people are free to say something stupid just as they are free to say something smart because you don't want to have somebody else dictating what's smart or stupid.

Quite frankly, I admire his outrage. It's on match. It's just that he's pointing that outrage at the wrong parties. When you talk about the Gamestop, Robin Hood, and Reddit situation, and then you name social media platforms as the problem, you're definitely targeting the wrong parties.

You got things Way backwards. Zapping said. I gotta be fair here, because I know a lot of people are demonizing him on social media. I really don't think that he knew what he was talking about.

He introduces the situation by calling it game stock mispronounces Reddit. He then ends by saying it's the social media platforms that are the problem, Kind of insinuating in my view, that the social media platform should be in charge of controlling the information spread. Quite simply, a lot of these older generation politicians don't understand the social media thing, and they're like, well, you know, before social media, this wasn't a problem and now it's a problem. So it must be social media's fault.

Rather, the reality is that the social media platform allowed retail traders to come together like never before to actually uncover problems that have been silenced for decades. Okay, Sheba E. New Coin, also commonly known as Shiba Coin has been barking up quite the storm and we had, of course, traditional hype inducer Elon Musk helping the situation by tweeting a picture of his Sheba puppy named Floki in the franc of a Tesla. Clearly, if you're looking at this picture and you're not immediately yoloing all of your money into Dogecoin, Shiba Inu Coin, and Floki Enu Coin, you are a monster.

You think I'm being sarcastic. But in a way, this is really all the proof of concept we need. I mean, Sheba's are good-looking puppies. Elon Musk tweeted about one in the frank of a Tesla.

Tesla's very, very successful as a company. Elon Musk grew hair back after being bold in his earlier years. All of these things come together to suggest that Shiba Inu Coin is the next big currency. But very seriously, Serious, fundamental analysis aside, Shiba Inu coin has been on fire with a 220 gain on the week it's trading at a price of zero Six nine, 0.00002069 coin.

And for comprehension, every one Us dollar equals forty four thousand sixty eight sheep of coins. At the time of shooting this video, it's probably less now because Shiva kept going up. But let's be real. when you're trading at these levels, it's a market cap of almost Nine billion dollars.

That's big, big money. But how does Sheba Coin compare it to say Dogecoin? Well, Dogecoin was trading at 8.64 billion on April 11th this year, before its incredible run to heights at 90 billion. And with Sheba sitting at that same market cap, a lot of people are making the connection that hey, maybe this is going to happen here too. But what's really the technology difference behind the surface? Well, the bigger picture is essentially Dogecoin runs on a similar technology platform to Bitcoin.

Only major difference is that it's with a much higher supply that is ever increasing aka more dose. Coins can continue to be created indefinitely. Shiva, on the other hand, actually runs on Ethereum's network. The benefit of that is it can actually use smart contracts to make D5 applications, which adds to the actual use of the currency.

It also has limited supply, and according to the Wolf papers, if you have Sheba Coin, the idea is eventually you'll be able to put it to work by staking it to help support the blockchain network. The different roles in the network will be known as burying or digging, and in return you'll exchange sheep, leash or bone tokens. My thoughts in terms of advantages here: Well, Shibacoin has a big benefit that it can actually host applications on its network, which we just mentioned a little bit ago. But that's a big benefit because if you have a lot of hype and enthusiasm for this, you can make better use of that hype and enthusiasm to make this a longer lasting, valuable crypto.

It also has limited supply. Another thing is that while this may be a psychological factor, hey, it's trading at a very, very very small price per token. so you could buy a hundred thousand tokens for like a couple bucks the end of the day. The pie may be eight or nine billion, but when people go and psychologically look at the price per token, they're like wow, I'm getting a lot of tokens for this.

Whereas if somebody looks at a Bitcoin or an Ethereum or something that's trading a lot higher, they're like, wow, I can't even buy a full token at the end of the day. Just to put the pie in perspective, If she Bitcoin was to get to just one cent, it would be trading at a 3.9 trillion dollar market cap. So the price per token can be very, very deceiving here. In reality, the price per token doesn't matter at all.

it's the overall valuation. But when it comes to a lot of these new alt coins coming out of nowhere and running, the price per token matters a lot because people just want to put some money in and feel like they could get a lottery ticket on it. And when it comes to Shebacoin, it definitely has that appearance of being very, very cheap and very, very momentumous. Right now, people are like oh well, it's starting to run.

It doesn't hurt me that much to put in like a thousand bucks. I'm just gonna do that and see what happens and then a lot of people are doing that and then it just keeps running and running until eventually that stops. But I think that in totality, those are a few different advantages that Shepa Coin has, and I would not be surprised if it sticks around for a lot longer than people expect cycles. As always, nobody knows where this is going to go.

It's going to go up dramatically, and then it's going to drop dramatically. and then it's going to go up again because that's how these strike. And I'll be the first to tell you that there's better crypto assets out there that have much, much, much better technology behind them. But at the end of the day, prices are based on what people pay, not how good the technology is right.

Especially in the space. In a world where people buy digital toilet paper for millions of dollars and call it art, you definitely can't ignore something like a sheep a coin that has some relatively strong technology behind it. Take bigger picture. I mean, if you're looking at the game outside of all the different hype plays, what is the strongest network that is hosting a lot of these projects? Well, Ethereum.

So we can bark up a storm about Chiba Inu. But the one thing that's showing consistent proof of concept is Ethereum. Anyways, folks that caps off the video. If you have any questions, feel free to reach out to us below or join us on zip Trader Circle if you'd like to learn how to trade.

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Fud Stopper 50 will get you 50 bucks off before checkout if you're wondering what broker to trade these stocks on. All we like to send new traders over to Public.com Ziptrader You're a fantastic broker and you will get one free stock when you sign up and deposit just one dollar using our link below. Anyways, folks that caps off the video and I'll see you in the next one.