Is Shiba Inu A Good Investment

Is Shiba Inu A Good Investment

Several meme coins have provided tremendous returns, and Shiba Inu is one of them. Marketing itself as a Dogecoin killer, Shiba Inu road the coattails of the meme coin era. While many investors asked, is Shiba Inu a good investment? the coin went on a massive bull run when most altcoins were stagnant.

Our team reviewed Shiba Inus performance, highlighting it and the impact it had on the crypto market. Our guide also features a Shiba Inu price prediction, where to buy the coin and whether its a long-term investment.

Shiba Inu Investing: Is It Safe

The safety of a crypto coin is strongly based on its foundation, structure, and utility. Shiba Inu is a community-driven altcoin. This means its growth is largely dependent on the growth of the community.

Crypto investors consider utility as a strong focus before investing in cryptocurrencies. But for Shiba Inu, the focus is more on the communitys strength than on SHIBs utility. More importantly, because its a meme coin, its community must be positive about the future potential for its long-term performance.

Shiba Inus white paper described SHIB as an experiment for building decentralized communities. Since its inception, Shiba Inu has performed well in the crypto market and is embraced by many investors because of its strong community.

If you invest in Shiba Inu, the safety of your investment is based on how SHIB performs. Like many other cryptocurrencies, SHIB is a volatile asset whose price fluctuates rapidly. And its hard to predict the markets moves, making your investment potential more speculative.

But Is It Too Late To Buy Shiba Inu Coins

IT is NOT too late to buy Shiba Inu crypto. It has been a great year for SHIB where several price milestones were crossed which brought huge percentage gains for traders and investors who had faith in the crypto trading asset from the beginning of the year.

With SHIB trading at a relatively lower trading price that does nothing to the personal finance of someone living below the poverty line, 2021 is the best year to buy Shiba Inu Coin. At $0.00001, buying 10,000,000 SHIB will cost you $100. You could decide to buy $100 worth of SHIB which most would consider an amount of money that you could afford to lose in the worse case scenario, the best case scenario you will gain from the potential huge upside SHIB could potentially offer.

You can forget about the investments for the foreseeable future and see what the price of Shiba Inu Coin will be in the not-too-distant future. To give you a better understanding of why it is not too late to buy SHIB, the experts at Gov. Capital estimate the Shiba Inu Coin will command a price of $0.000069 before 31st December 2023. So buying SHIB at the current price could earn you at least 590% by the end of 2023.

Virtual currencies are highly volatile. Your capital is at risk

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What Is Shiba Inu Coin Is It A Good Investment

With a token supply of nearly 400 trillion, buying SHIB is like buying one of the 11,000+ altcoin lottery tickets. You never know what you’re gonna get.

After the meteoric rise of Gamestop, Dogecoin and other speculative assets, new crypto projects have been trying to capitalize on the trend.

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One newer token called Shiba Inu, named after the dog representing Dogecoin, has dubbed itself the “Dogecoin killer.” But is Shib a legitimate project, or is it just another altcoin looking to take advantage of trends and unsuspecting investors?

Shiba Inus Past Performance

The table below shows the price of SHIB on September 7, 2020, and 2021. The percent change in SHIB covers from the beginning of each year.

Shiba Inu is a relatively recent cryptocurrency compared to Bitcoin. Bitcoin was created 13 years ago in 2009, while Shiba Inu was launched 3 years ago, in August 2020. Its just 3 years old and has quickly risen to overtake other decade-old cryptocurrencies.

If you bought $1000 worth of Shiba Inu on September 7, 2020, as of September 7, 2022, you would have a huge sum of $98,870,970. Thats a thousand-dollar investment turning into almost a hundred million dollars in two years. If you sold off when SHIB hit its all-time high of $0.00008616 on October 18, 2021, you would have made $694,838,700.

From September 7, 2021, to September 7, 2022, SHIB has gained more than a hundred percent. If you invested $1000 at the time, you would have about $2000 now.

Although SHIB is a fairly new cryptocurrency, its annual yields have never fallen into a negative region. But is SHIB a good investment right now?

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Is It Safe To Invest In Shiba Inu

Answering this question doesnt need an elaborate discussion and so we will answer you in a nutshell.

We are not your financial advisor, and where you will invest is up to you. But, our objective is you provide you with all educational information regarding any crypto project. We hope this will help you be cautious after knowing the scenario of a risky project before investing.

Origins: What Is Shiba Inu

Shiba Inu was launched in August 2020. The so-called meme coin is a play on the Dogecoin meme, which is itself a parody on cryptocurrency in general. Coins themed around the Shiba Inu breed of dog from Japan (inu is Japanese for dog, gained popularity in 2021 as investors looked for the next multi-bagger crypto to invest in. This year has proven extremely difficult but a recent move has seen large wallet investors on the Ethereum blockchain scoop up more than 855 billion Shiba Inu tokens, frequently seen as a sign that a bullish trend is around the corner.

Shiba Inu is built on the Ethereum network and its native token, SHIB, is an ERC-20 token.

According to its website, Shiba Inu initially had a supply of one quadrillion tokens. Half of the total supply was locked in the Ethereum-based DEX Uniswap while the other half was sent to Ethereums co-founder, Vitalik Buterin,for safekeeping.

In July 2021, Buterin donated 50 trillion SHIB coins, which represented 5% of its total supply, to Indias Covid-19 relief fund. Buterin also sent 40% of Shiba Inus total supply to a dead wallet, which is also referred to as burning, according to Shiba Inus website.

The project has evolved from the SHIB decentralised meme token into an ecosystem that incorporates the LEASH and BONE tokens. Shiba Inus network also has a decentralised exchange called ShibaSwap and a non-fungible token incubator called the Shiba Incubator.

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What Is Shiba Inu A Simple Explanation

ShibaInu is one of the most popular meme-inspired protocols that run on the most popular smart contracts blockchain technology in the world, Ethereum.

Shiba Inu uses its token, Shiba Inu Coin to power transactions on its protocol. SHIB is the ticker symbol it trades by on the various cryptocurrency exchanges it is listed on.

Shiba Inu was created by a group of people who go by the pseudonym RYOSHI and released to the public in August 2020. This was the same time that its novel token SHIB became a crypto trading asset opening with an insignificant amount on the various exchanges.

Dubbed the Dogecoin Killer, this is a community-driven project based on the Shiba Inu dog meme. Unlike other crypto projects that go through an initial coin offering and see millions of funds through angel investors, Shiba Inu had no funding.

Whats more, there is no centralized team and no direct leadership. The future of the project lies in the hands of the masses who have dedicated their hard-earned money to follow Shiba Inu to the end. The development team behind the project pointed out that Shiba Inu Is an experiment in decentralized spontaneous community building.

The distribution of the SHIB tokens was done unconventionally. 50% of the tokens were sent to the founder of Ethereum, Vitalik Buterin and the remaining 50% was locked up on decentralized exchange Uniswap.

Virtual currencies are highly volatile. Your capital is at risk

Is It A Good Idea To Invest In Shiba Inu

Investing in a meme coin can be tricky. Many factors affect the potential profitability of SHIB. Some factors are positive, while others are not so much. The next section will give insights into the pros and cons of investing in Shiba Inu. At the end of this article, you can make an informed investment decision. So, is Shiba Inu a good investment in 2022? Lets find out.

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Shiba Inu Coin As Long

Now, lets come to the discussion of- how Shiba Inu is as a long-term investment. Frankly, to say, Shiba Inu is a bit risky for investors as a long-term investment. The reasons for saying Shiba Inu is a risky project as a long-term investment are as follows:

The Crypto industry is a place full of innovations, so one should invest in a project of intellectuals, which solves any real-world problem indeed. Because these projects survive in the market at the end of the day. In the crypto market, patience is of high importance because investors need to retain their patience when the market remains in a bearish trend. But, your patience brings no benefit to you if you invest in the wrong project. Its because that useless projects price will never go up as it has no utility for not solving any real-world problem.

Shiba Inu Coin Analysis

To analyze the price of Shiba Inu, we should start from February 2021. Because-Shiba Inu coins price was nothing significant to mention before that time. Basically, Dogecoin gained at price in February, March, and April 2021. Similarly, the Shiba Inu coin also saw an increment in its price during that time, and as a result, Shiba Inu coin reached its ATH, which is $0.0000388, on 10th May 2021. Factually, getting listed on Binance helped Shiba Inus price to get into its ATH. And then, BTC saw a huge dump in its price that took its price down to 30k. Alongside, Vitalik Buterins coin donation in India was hard-pushed news for the Shiba Inu coin. Consequently, the Shiba Inu coin bore the brunt of a crash, which is still in existence.

But, with a $3B + marketcap, the Shiba Inu coin is still among the top-50 coins in CMC. Indeed, considering the marketcap, $3B is not a small amount. Its foolish to think that Shiba Inu will reach its 1 cent milestone at the soonest. The reason is that ETH has a $400B + marketcap right now so how come is it possible the if Shiba reaches its $0.0001, then its market cap will outnumber $100B? Therefore, rectify your thinking.

Now, lets come to an interesting point, which is- there is another way to understand whether a project is legit or not. The way is.

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Is Shiba Inu A Good Investment For Making A Lot Of Money

Given the price of Shiba Inu soared over 700 percent in October, a 99.0 percent increase seemed possible. Getting in on current levels of $0.000035 per coin and holding until a price of $0.0037 might be one method to hit $1 million on your Shiba Inu investment if you had $10,000.00 cash on hand.

Is It Worthwhile to Invest in a Shiba Inu?

In the year 2021, Shiba Inu was one of the most popular digital currencies. In terms of market value, it is still among the top 15 most valuable cryptocurrencies. When compared to a Bitgert, however, it has underperformed as the best crypto investment in a number of areas.

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What Is Suba Inu

Shiba Inu is an ERC-20 token created on Ethereum by an anonymous individual known as Ryoshi. Shiba Inu’s website says that the coin is a decentralized meme token that is growing into a vibrant ecosystem.

“SHIB is an experiment in decentralized spontaneous community building. SHIB token is our first token and allows users to hold Billions or even Trillions of them. Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin in a small amount of time .”

The token’s whitepaper says that the intention is to build an ecosystem consisting of three tokens with different supplies.

SHIB is the ecosystem’s foundational currency with a max supply of one quadrillion. LEASH is the second token created and has a supply of 107,646 tokens and the third token is BONE with a supply of 250,000,000 tokens.

The team behind the tokens has also created a decentralized exchange known as ShibaSwap, that allows users to “dig” , “bury” , “fetch” and swap coins. This exchange is similar to others on the Ethereum network, like SushiSwap and Uniswap.

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Shiba Inu Market Position

At the time of writing, Shiba Inu has a market cap of roughly $5 billion, which places it in the top 15 cryptocurrencies by total market capitalization. In terms of meme coins, Shiba Inu is the second largest, trailing Dogecoin which has a market capitalization of roughly $10 billion.

Compared to other top 15 altcoins such as Ethereum, both Shiba Inu and Dogecoin have inferior infrastructure, use case and levels of adoption. However, they make up for it in terms of their social popularity often dominating social media feeds during euphoric times in the market.

In this sense, Shiba Inus growth is largely predicated on market sentiment. During fearful times, Shiba Inu underperforms, as money flows out of riskier projects into projects with strong fundamentals however, during euphoric times, Shiba Inu has the potential to explode in popularity.

Shiba Inu Is An Underdog But It’s Been Making Improvements In Recent Months

Shiba Inu made history as one of the fastest-growing cryptocurrencies in the world, experiencing explosive growth throughout 2021.

However, it’s currently down a whopping 86% from its peak in October. While many investors believe Shiba Inu is past its prime, some are still hopeful that it could make a dramatic comeback.

If the cryptocurrency is preparing for a rebound, now could be the time to buy the dip. But is that really the right move? There are a few factors to consider before you invest.

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Why Was Shiba Inu Called The Dogecoin Killer

Dogecoin, the meme cryptocurrency that started as a joke, recently gained popularity. The price of dogecoin has soared, and it is now the sixth-largest cryptocurrency by market capitalization. The reason for dogecoin’s popularity is significant is because it is much cheaper than other cryptocurrencies, making it more accessible to a broader range of people. However, some experts warn that the dogecoin craze could be a bubble about to burst.

According to one report, Shiba Inu has been called the Dogecoin killer. The report came out on May 5th, 2021, claiming that SHIB was a much better investment than DOGE. The report cited several reasons, including SHIB’s faster block time, higher supply, and lower market cap.

Experts Advice About Investing In Shiba Inu

Several experts have opinions about Shiba Inus platform and the tokens utility, which affect the assets price. Investors should consider the mixed opinions and decide for themselves the ones that make the most sense.

• WalletInvestor The token is a bad long-term investment. This investor expects Shiba Inu to trade at $0.000000495 in the next five years.
• DigitalCoinPrice Bullish about SHIBs performance and expects the coin to trade at $0.000158 by 2030.
• GoBanking Rates, Nasdaq Shib Inu is valuable only as a short-term investment.

The opinions expressed above shouldnt be substituted for investors conducting research and making their own decisions. The crypto market is highly volatile and affected by fundamental factors, which can arise unexpectedly.

Its important to conduct a technical and fundamental analysis to get deep insight into the tokens potential trajectory. Although many investors believe that SHIB isnt a utility token, it has proven to have several use cases. SHIBs adoption as a payment currency is growing as many retailers will offer it in the near future.

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So Is Shiba Inu A Good Investment

Shiba Inu could be a good investment if a few conditions are met, namely if the meme can regain its popularity. It is by no means a sure or safe investment, especially in fearful and bearish markets. Investing in Shiba is extremely risky, but with enough luck and liquidity, it could skyrocket again. However, for the time being, cash is king. For more risk-averse investors, PennyWorks is an excellent way to earn sustainable returns on US dollars. You can earn up yo 8% APY with PennyWorks without any prior crypto experience.

The India COVID-Crypto Relief Fund has already moved 20 trillion Shiba out of its main wallet, though it is difficult to know exactly how much of the total donation has been sold. We dont even know which charity the other 50 trillion Shiba donation went to. Most of the other half of Shibas supply that was locked into Uniswap hasnt been minted yet, which will make selling the Shiba affect the price of the token even more.

Price History & Current Price Of Shiba Inu

Since the Shiba Inu coins debut on the cryptocurrency platform, the price has seen an upward trend. Like other cryptocurrencies, Shiba Inu is extremely vulnerable to market changes, and its the most volatile.

Nevertheless, since its launch in August 2020, it has steadily increased from its initial $0.00000001. Unlike other crypto rivals, Shiba Inu had taken a gradual ride of moving upward, thereby showing promising and satisfying trends, with the current value of $0.00003812.

The market cap of SHIB is over $20 billion, thereby making the currency one of the most valuable crypto tokens around the world.

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