Kendu Inu coin has spiked 300% since June 2024, a surprisingly quick transfer contemplating the coin simply launched in April 2024. However, regardless of this leap, the mainstream monetary media nonetheless has not talked about Kendu Inu. The group is pretty small however seems to be rising shortly. So, is that this a superb alternative to “get in on the subsequent meme inventory” earlier than it truly turns into the subsequent meme inventory? Listed below are my ideas.
What’s Kendu Inu Coin?
After diving into Kendu Inu’s web site and social media pages, there actually isn’t a lot to say in regards to the coin itself. That’s as a result of this crypto challenge isn’t engaged on a bigger mission. There is no such thing as a white paper outlining the challenge’s roadmap or new know-how being constructed. The entire level of the challenge is simply to draw customers in order that the coin’s value surges.
On its web site, Kendu Inu’s mission assertion says that Kendu
“Conjures up his military of loyalists day by day to sculpt a haven the place exhausting work births prosperity, whereas placing concern within the hearts of jeets. Witness the epic rise of Kendu Inu, the subsequent billion-dollar meme ecosystem.”
Huh. The web site additionally states, “We don’t gamble. We work.” I’m wondering what they’re working so exhausting on since there doesn’t appear to be any kind of roadmap in any respect.
Regardless of this lack of a roadmap, Kendu Inu’s value has soared lately. In keeping with CoinGecko’s value information, Kendu Inu coin surged from $0.00005 in early June 2024 to $0.0002 as of mid-June – a motion of roughly 300%. The worth motion began round June 4th, so I did some analysis to try to discover a catalyst.
Via Kendu Inu’s Twitter, I discovered that a number of main occasions occurred round June 4th:
There’s a superb likelihood that numerous folks noticed the billboard and purchased Kendu Inu which is what precipitated the value run-up. Or, folks noticed the information in regards to the Binance itemizing utility and rushed to purchase the coin.
Value run-ups may proceed if Kendu Inu retains gaining reputation. However, to be clear, Kendu Inu doesn’t appear to have any long-term roadmap outdoors of “develop the group” and “hopefully all of us get wealthy.” In the event you purchase Kendu Inu coin then you definately’re primarily having a bet that this coin may grow to be the subsequent Doge, Shiba Inu, or Bonk coin. However, that doesn’t imply that you just shouldn’t purchase it.
Leveraging Moonshot Investments
Investing in cryptocurrency nonetheless tends to get a nasty repute. In the event you convey up this matter in dialog, most individuals will probably provide you with a small eye roll and alter the subject shortly. Nonetheless, with BTC and ETH each getting authorized for ETFs, extra validity is coming to the house. It might solely be a number of extra years till investing in lesser-known cash begins to be thought-about a reputable investing technique. It may even grow to be much like angel investing.
At its core, shopping for new cryptocurrencies is a moonshot funding. In the event you purchase a meme coin, you’re doing so with the hopes that it will possibly 10X and even 100X your cash pretty shortly. This technique is little totally different than angel investing, which includes investing in startups. With angel investing, enterprise capitalists place bets on dozens of early-stage corporations. They know that 90% of the businesses they put money into will fail. However, they’re hoping that only one startup out of ten will grow to be the subsequent Fb (Nasdaq: META). Discovering this one winner makes up for all the opposite startups that fail.
After all, the most important distinction is that startups nearly all the time have a mission assertion, a services or products, and income (normally). Kendu Inu coin doesn’t have any of this and doubtless by no means will. However, you may nonetheless borrow the identical investing technique that angel buyers use.
With regards to shopping for meme cash, it’s a good suggestion to allocate a small share of your portfolio to early-stage cash in hopes of incomes an outsized return. Getting in early on the subsequent meme coin can instantly make up for cash that you just lose on different dangerous bets. However, this brings me to my most essential level.
Solely Make investments Cash That You Can Afford to Lose
The Kendu Inu group is small and rising extremely shortly. It’s spectacular that the coin is already this well-known regardless of its younger age. In the event you’re trying to discover the subsequent huge meme coin then it’s definitely a superb wager. However, if you wish to purchase Kendu Inu coin it’s a good suggestion to solely accomplish that with cash which you could afford to lose. Bear in mind, any asset that may rise 300% in a single month can fall 300% in a single month simply as shortly.
Moreover, beware that the Kendu Inu group intentionally tugs at folks’s FOMO (Worry of Lacking Out). Its Twitter web page is loaded with feedback about the way you “don’t wish to miss out”, “shopping for Kendu Inu will make you wealthy”, and different quotes that sound like they’re straight out of the Stratton Oakmont Gross sales Handbook. Even the Time’s Sq. billboard begins off with “Missed Shiba Inu?” All of this advertising and marketing is designed to try to manipulate buyers into shopping for Kendu Inu in hopes of incomes a large return. Hold this at the back of your thoughts when doing your individual due diligence.
So, How Do you Purchase Kendu Inu?
Kendu Inu is traded on decentralized exchanges proper now. One of the best ways to buy is to make use of uniswap and commerce Shiba/ETH pairing.
Merely, join Uniswap with both your MetaMask, WalletConnect, or Coinbase pockets, choose the promote quantity for ETH and recieve your Kendu in your related pockets.
Right here’s an important video posted on reddit strolling by the whole arrange.
I hope that you just’ve discovered this text beneficial in the case of studying about Kendu Inu. In the event you’re thinking about studying extra then please subscribe under to get alerted of latest investing alternatives from InvestmentU.
Disclaimer: This text is for common informational and academic functions solely. It shouldn’t be construed as monetary recommendation because the creator, Ted Stavetski, just isn’t a monetary advisor. Ted additionally didn’t personal Kendu Inu coin on the time of writing.
Ted Stavetski is the proprietor of Do Not Save Cash, a monetary weblog that encourages readers to speculate cash as a substitute of saving it. He has 5 years of expertise as a enterprise author and has written for corporations like SoFi, StockGPT, Benzinga, and extra.