What You Need To Know Before Investing In SHIBA Inu?

What You Need To Know Before Investing In SHIBA Inu?

Cryptocurrency
July 14, 2022 by Diana Ambolis
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Shiba Inu first appeared on the market in 2020, but it has since become one of the most valuable cryptocurrencies. Shiba Inu saw growth of 48,000,000 percent between 2020 and 2021. By 2021, everybody investing in SHIB Inu, their 100$ in 2020, had become a billionaire. However, as they say in finance, past performance does
Shiba Inu

Shiba Inu first appeared on the market in 2020, but it has since become one of the most valuable cryptocurrencies. Shiba Inu saw growth of 48,000,000 percent between 2020 and 2021. By 2021, everybody investing in SHIB Inu, their 100$ in 2020, had become a billionaire.

However, as they say in finance, past performance does not predict future performance. Therefore, the crucial query for any investor is: Are Shiba Inus a wise purchase? To better comprehend this, let’s look at the benefits and drawbacks of investing in Shiba Inu.

Here are seven reasons why investing in Shiba Inu is a great idea

  1. Elon Musk’s favorite token is the Shiba Inu.

Celebrities have recently been paying a lot of attention to cryptocurrency. One such famous person who influences mood in several markets is Elon Musk. Despite Musk’s denials that he has any Shibas, the prices of both Shiba Inus and Dogecoin have been influenced by his comments. Musk’s tweets about his dog Floki, which featured a Shiba Inu emblem, have had a favorable effect on the price, particularly for Shiba Inu.

Musk is likely to continue to benefit from SHIB’s price in the future because he insists that he is still in favor of cryptocurrencies despite the market crash and a lawsuit about Dogecoin. Shiba Inu is currently a wise bitcoin investment; it is safe to say.

  1. Tokenomics and market pricing for Shiba Inus

Tokenomics is one of the most important things to consider while looking for a high-potential cryptocurrency to buy. Tokenomics makes a lot of sense to an investor in the example of Shiba Inus.

The number of tokens in Shiba Inu has dropped since its debut in 2020. Shiba Inu gave Vitalik Buterin access to 50% of its token supply at launch. He did burn nearly all of them and gave the rest to India for COVID-19. As a result, the total supply of Shiba Inu was reduced by almost half.

SHIB appears to be a cryptocurrency that anyone may buy right now based only on the tokenomics of the asset. The Shiba Inu has kept burning tokens ever since. Therefore, the price has the potential to increase as demand increases and outpaces a decreasing supply.

  1. Shiba Inu has demonstrated that it can produce millionaires.

The highly regarded cryptocurrency industry is getting increasingly crowded as new tokens are introduced daily. Analysts utilize the strengths of each of these cryptocurrencies to forecast how their prices will fare in the future. As an illustration, Bitcoin stands out due to its first-mover advantage and potential to function as a store of wealth in the future. Similar to Bitcoin, Ethereum and other alternative coins are prized for their ability to provide decentralized services in addition to payments, significantly outpacing Bitcoin’s utility.

Shiba Inu has established a reputation for being a top meme coin that can surge by significant amounts in a short period. Investors anticipate SHIB to repeat its price behavior from 2020 to 21 once bulls return to the market. Shiba Inu might become one of the top cryptocurrencies with long-term potential once the market begins to settle and investors take advantage of the low prices.

  1. Shiba Inu might unseat Dogecoin as the ruler of meme currencies.

Shiba Inu, throughout the last two years, has established itself as one of Dogecoin’s main rivals. While competing, Shiba Inu has established itself as a worthy opponent. Shiba Inu momentarily overtook Dogecoin in market valuation during the last cryptocurrency bull run, which ended in November 2021 and rose to the top 10 meme coins by market capitalization.

The rivalry between Dogecoin and Shiba Inu could affect the future value of Shiba Inu. Shiba Inu overtaking Dogecoin might see it draw many more Shiba Inu investments before the next bull run because the best meme coins have the most growth potential. This is because investors are now aware of the market potential for meme currencies. Shiba Inu is among the finest meme coins to buy now for the highest returns because of this important characteristic.

  1. Shiba Inu still generates RobinHood Buzz

This beautiful dog has been creating a stir in the cryptocurrency community by requesting to be added as a trading option on Robinhood. In addition to social media posts and online discussion boards like Reddit, numerous more exchanges have formed and are prepared to incorporate SHIB trading.

Although Shiba Inu hasn’t yet been listed on Robinhood, it’s likely that if they give in to demand and do so, it will impact the breed’s pricing. That’s because one of America’s most well-liked exchanges for novice traders is Robinhood. As a result, Robinhood is a wild aspect that can make SHIB one of the meme coins to buy in 2022 with the most potential.

  1. Changes to the environment of the Shiba Inu

Most meme currencies are developed for the hype and have little to no practical use. One of them differentiating themselves by going above the hype is Shiba Inu. Shiba Inu has developed several innovations since its launch that may enhance the value of SHIB.

Shibarium is among the most intriguing Shiba Inu innovations. Shibarium is a brand-new blockchain technology that will forever alter how cryptocurrencies are used. It’s an ecosystem that SHIB developed on top of and improved, introducing new coins to the market with incredible features. As a result, Shiba Inu gains value as a leading cryptocurrency.

The Shiba Inu Metaverse is another incredible feature that adds value to Shiba Inu tokens. Although it does not use SHIB tokens, the Shiba Inu, which was released in Q1 2022, may increase the value of SHIB. That’s because it will aid in bringing awareness of Shiba Inu to gamers and other people who might not be familiar with SHIB.

As a result, once the bull market resumes, Shiba Inu could rise more quickly than most meme coins. As a result, SHIB is among the top cryptocurrencies to purchase right now to benefit from the upcoming cryptocurrency bull run.

  1. The founder anonymity component

The element of surprise has contributed to Bitcoin’s advantage. This is so that the bitcoin can now be separated from the owner. Shiba Inu has a comparable benefit to Bitcoin in that no one knows who the founder is. The recent failure of multiple initiatives due to founder problems will probably strengthen the case for Shiba Inu. This implies that the founders’ problems might never affect Shiba Inu’s pricing direction. Investors have been drawn to Shiba Inu because of this aspect.

Shiba is one of the top cryptocurrencies to watch in 2022 and beyond because of this important aspect.

Cons of owning Shiba Inus as a pet

Shiba Inus investment are risky, just like any other. Because cryptocurrencies are ultimately volatile and high-risk Shiba Inu investments, you should pay close attention to the drawbacks. If the Terra collapse is any indication, every cryptocurrency, especially one with large market size, has a possibility of collapsing at any time.

Also, read – The Chronicles of Shibaria The NFT Collection Extends SHIB’s Influence Beyond Memes

Now let’s consider a few things to consider while purchasing a Shiba Inu.

Shiba Inus are not very useful.

Compared to the tens of thousands of other cryptocurrencies on the market, the lack of distinguishing characteristics is one of Shiba Inu’s biggest problems. Low acceptance has resulted from this, particularly from businesses that could have made SHIB well-known outside of the cryptocurrency field. For instance, less than 100 firms are using SHIB as a payment mechanism as of 2022. Shiba Inu’s value growth might be hampered by this, especially in the face of competition from cryptocurrencies with high usefulness, like Bitcoin and Ethereum.

Exponential improvements may be no longer possible.

Shiba Inu was among the best-performing breeds. Cryptocurrencies during the bull run of 2020–21. This occurred after a 48,000,000% increase. This is due to the large number of purchases made in 2020 and 21. This complicated Shiba Inu investment for someone purchasing now, even if it was a positive thing because it brought Shiba Inu to the forefront. Despite the collapse, many investors are still making enormous gains and have a strong desire to sell.

This implies that Shiba Inu could continue to dump even at the present price if whales sell their shares and invest in younger cryptocurrencies or other assets. It is one of the reasons why it would be wise to diversify into other high-potential cryptocurrencies in addition to investing in Shiba Inu.

An ERC-20 token is called Shiba Inu.

On top of the Ethereum blockchain, Shiba Inu operates. Due to Ethereum’s supremacy, this offers its benefits, but it also carries some hazards. One is that ERC-20 tokens often fall in value along with Ethereum. As a result, it would benefit you as an investor to monitor the Ethereum ecosystem as a whole. It’s a compelling argument to consider Shiba Inu alternatives with high potential as a component of a well-rounded cryptocurrency portfolio.

Are Shiba Inus investment wise right now?

You have a fair notion of whether Shiba Inu investment is wise if you have followed this advice up until this point. Several factors should be taken into account before deciding to get a Shiba Inu.

 The first and most crucial is purchasing Shiba Inus from a reputable exchange.

  1. Because bitcoin theft is so common, be cautious in choosing a safe password.
  2. Transfer your cryptocurrency to a safe wallet after taking it out of the exchange.
  3. Ensure that you buy in a bear market, sell high, and do so at the proper time (at the height of a bull market).
  4. Diversify your portfolio to mitigate the risks associated with the cryptocurrency market.

Are you sure enough about Shiba Inus? Even though Shiba Inu is a meme coin distinct from Bitcoin, it is a digital asset worth investing in now. Let’s begin the purchasing process.

Which is a better investment: a Shiba Inu or a Dogecoin?

It shouldn’t be either-or when investing in these two top-performing meme currencies. The ideal would be Shiba Inu investment and Dogecoin. Both are meme currencies, and the likelihood is that their value will increase if the market does well.

That being said, Shiba Inu seems like a lot better option if you don’t feel willing to put all on one of them. For anyone interested in investing in meme coins, it offers significantly higher prospects.

Tokenomics is one advantage Shiba Inu has over Dogecoin. Dogecoin has an annual supply of 5 billion and is an inflationary token. This indicates that Dogecoin has little potential for long-term exponential value increase from an economic perspective. That’s because the token’s value gradually decreases as fresh coins are introduced into circulation.

Such problems do not exist in Shiba Inus. Nearly half of the entire amount of Shiba Inu tokens was removed from circulation by Vitalik Buterin in 2021 alone. Shiba Inu keeps extinguishing tokens from circulation. Because demand will eventually be chasing fewer tokens as the token supply declines, Shiba Inu is one of the finest cryptocurrencies to buy and hold. It follows from basic economics that the price will probably increase over time. Because of SHIB’s stringent deflationary tokenomics, this is the case.

Shiba Inu outperforms Dogecoin in terms of possible applications. Dogecoin is intended to be used as a form of payment and is more like a cheap alternative to Bitcoin. The application cases for DOGE haven’t changed significantly since it first reached the market in 2013, nor have they been greatly expanded.

On the other hand, Shiba Inu possesses a variety of other uses than just a payment cryptocurrency. Shiba Inus were first recognized in 2020. But since then, it has seen the development of its ecosystem, which now includes a decentralized exchange and a highly publicized Metaverse. These use cases suggest that SHIB is a cryptocurrency with increasing intrinsic value, which signifies its value will increase over time.

In short to medium term, Shiba Inu is superior to Dogecoin. So, which should you buy: Shiba Inu or Dogecoin? SHIB would sound like a better option if you had to decide. But given the nature of cryptocurrencies, holding both as part of a diversified portfolio would make sense.

Final Verdict: Is Shiba Inu a top-notch cryptocurrency to purchase right now?

One of the best in crypto has been the Shiba Inu squad. Consider Shiba Inu, a meme coin that debuted in late 2020 and quickly rose to become one of the largest by market capitalization, to get an idea of how good they are. With gains of around 50%,000,000%, it became one of the best-performing cryptocurrencies ever. Shiba Inu cryptocurrency is a smart investment to make right now.

After their initial success, the Shiba Inu squad also hasn’t taken a break. Shiba Inu has improved over the past year and now stands out from other meme currencies thanks to several new features. Shiba Inu, for example, has evolved since its introduction from being merely a speculative token to having a Metaverse and a DEX, among other features.

Thanks to all these attributes, Shiba Inu is among the best cryptocurrencies to acquire and retain for the long term. In addition to these use cases, many businesses accept Shiba Inu as money. Shiba Inu is essentially one of the digital currencies that will prosper in 2022 and the years to come. Shiba Inu is, therefore, a cryptocurrency that will be profitable to invest in 2022.