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Is Shib a good investment ?

As the name suggests, Shiba Inu crypto is inspired from a dog breed named Shiba Inu from Japan. However, this dog breed became a trend attracting millions of investors around the world. 

Shib is developed as an ERC-20 token on Ethereum decentralized exchange network and it has few similarities with it's counterpart Dogecoin. The coin is basically created as a meme coin with the image of Shiba Inu on it. 

Origin of Shiba Inu

This meme coin originally created by an unknown person named Ryoshi, it slowly started picking speed and value as a group of investors was attracted by the charm of the coin alongside news and Tweets from big personalities like Vitalik Buterin and  Elon Musk .

Shiba Inu is designed on Ethereum based network as a rival to Dogecoin, built on Srypt based mining technique. Just like Shiba Inu token there are many other Cryptos based on the theme of dogs, Dogecoin , Alaska Inu, and Alaskan Malamute Token are some dog themed Cryptos. These penny tokens have lured many investors who missed their chance to gain profit because Dogecoin surged from $0.0002 to $0.54 in May 2021.

If you go to the Shiba Inu website, Shiba is referred as the Dogecoin Killer, and it is listed on many exchanges globally. In India you can buy shiba on Binance and WazirX.

Shiba Inu started a campaign on Amazon smile to collect funds for rescue and protection of Shiba Inu dogs with the help of some association.

Challenge ahead SHIBA INU

You have to agree to the fact that Shiba has made some buzz in the Crypto market, but it failed to compete with its counterpart Dogecoin. Shiba Inu is not getting much social media attention compared to Dogecoin which received tremendous popularity through its Reddit handle in recent couple of months.

Another major problem with SHIB is, it is not listed on many exchanges unlike Dogecoin which has been listed on major exchanges like  Coinbase Pro, Robinhood. There are a lot of activities going on to list SHIB on Robinhood.

Is shib a good investment ?

I strongly insist you to do your own research before investing  in any Cryptos, don't rely on my opinion completely. 

When it comes to investing in any type of Cryptocurrency risk factor is very high, but if you are choosing these meme coins risk factor gets multiplied by 3. Because most of these meme coins are created for fun or in other words they don't have strong foundation and not intended for any specific purpose. Shib has very less market capitalizations which is not a good sign for shib coin.

Yes, you might think if I buy a 500 or 1000 of these coins, one day it will reach 1 cent and I will make a lot of profits. But in reality it's not the case, if you take the example of Bitcoin and think why it is priced at $33,000 is because it's total supply is limited to 21,000,000, you cannot mine Bitcoin once it reaches it's total supply of 22 Million.

Anyways, if you have a lot of money lying there doing nothing then you can gamble a little part of it by buying shib coin or Dogecoin (Careful though).

Will Shib hit 1 cent ?

Shiba Inu has been growing by almost 2,00,000% every month, since the beginning of 2021 by touching its all time high. If it continues at this pace it hit $0.01 mark by the end of this year.

On other hand some feel that SHIB might hit $0.01 in 2025. Even Dogecoin trying it's best to reach the $1 target. So with all these it is difficult to predict the future of Shiba Inu with many meme coins getting added to the market frequently. At the end, it is a game of patience after all, do not panic with all the fud going right now(Just HODL).

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