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 soar, the mainstream monetary media nonetheless has not talked about Kendu Inu. The neighborhood is pretty small however seems to be rising rapidly. So, is that this a very good alternative to “get in on the following meme inventory” earlier than it truly turns into the following 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 undertaking isn’t engaged on a bigger mission. There isn’t a white paper outlining the undertaking’s roadmap or new know-how being constructed. The entire level of the undertaking 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
“Evokes his military of loyalists every day to sculpt a haven the place laborious work births prosperity, whereas hanging concern within the hearts of jeets. Witness the epic rise of Kendu Inu, the following billion-dollar meme ecosystem.”
Huh. The web site additionally states, “We don’t gamble. We work.” I’m wondering what they’re working so laborious on since there doesn’t appear to be any sort of roadmap in any respect.
Regardless of this lack of a roadmap, Kendu Inu’s value has soared not too long ago. In line with CoinGecko’s value knowledge, 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 attempt to discover a catalyst.
Via Kendu Inu’s Twitter, I discovered that a couple of main occasions occurred round June 4th:
There’s a very good probability that plenty of folks noticed the billboard and acquired Kendu Inu which is what prompted the worth run-up. Or, folks noticed the information in regards to the Binance itemizing utility and rushed to purchase the coin.
Worth run-ups may proceed if Kendu Inu retains gaining recognition. However, to be clear, Kendu Inu doesn’t appear to have any long-term roadmap outdoors of “develop the neighborhood” and “hopefully all of us get wealthy.” For those who purchase Kendu Inu coin then you definately’re basically having a bet that this coin may develop into the following 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 foul popularity. For those who convey up this matter in dialog, most individuals will possible provide you with a small eye roll and alter the subject rapidly. Nevertheless, with BTC and ETH each getting accredited for ETFs, extra validity is coming to the area. It could solely be a couple of extra years till investing in lesser-known cash begins to be thought of a professional investing technique. It may even develop into just like angel investing.
At its core, shopping for new cryptocurrencies is a moonshot funding. For those who purchase a meme coin, you’re doing so with the hopes that it could possibly 10X and even 100X your cash pretty rapidly. This technique is little completely different than angel investing, which entails investing in startups. With angel investing, enterprise capitalists place bets on dozens of early-stage firms. They know that 90% of the businesses they spend money on will fail. However, they’re hoping that only one startup out of ten will develop into the following Fb (Nasdaq: META). Discovering this one winner makes up for all the opposite startups that fail.
In fact, the most important distinction is that startups virtually all the time have a mission assertion, a services or products, and income (often). Kendu Inu coin doesn’t have any of this and possibly by no means will. However, you’ll be able to nonetheless borrow the identical investing technique that angel buyers use.
Relating to shopping for meme cash, it’s a good suggestion to allocate a small proportion of your portfolio to early-stage cash in hopes of incomes an outsized return. Getting in early on the following meme coin can instantly make up for cash that you just lose on different dangerous bets. However, this brings me to my most vital level.
Solely Make investments Cash That You Can Afford to Lose
The Kendu Inu neighborhood is small and rising extremely rapidly. It’s spectacular that the coin is already this well-known regardless of its younger age. For those who’re trying to discover the following huge meme coin then it’s definitely a very good guess. However, if you wish to purchase Kendu Inu coin it’s a good suggestion to solely achieve this with cash that you may afford to lose. Keep in mind, any asset that may rise 300% in a single month can fall 300% in a single month simply as rapidly.
Moreover, beware that the Kendu Inu neighborhood intentionally tugs at folks’s FOMO (Concern 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 is designed to attempt to manipulate buyers into shopping for Kendu Inu in hopes of incomes a large return. Hold this behind your thoughts when doing your personal due diligence.
So, How Do you Purchase Kendu Inu?
Kendu Inu is traded on decentralized exchanges proper now. The easiest way 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 all the arrange.
I hope that you just’ve discovered this text useful in the case of studying about Kendu Inu. For those who’re inquisitive about studying extra then please subscribe beneath to get alerted of recent investing alternatives from InvestmentU.
Disclaimer: This text is for normal informational and academic functions solely. It shouldn’t be construed as monetary recommendation because the writer, 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 an alternative of saving it. He has 5 years of expertise as a enterprise author and has written for firms like SoFi, StockGPT, Benzinga, and extra.
