Shiba Token: A Meme Or The Best Investment?
Shiba Inu is a cryptocurrency that has shown a ridiculous amount of growth in the past 1 year, of almost 6,00,00,000%. Is this growth sheer luck? What will the prices be like for the next year? Will this upward streak continue? Here’s our analysis to answer these questions.
Shiba Inu Coin: A Royal Confusion.
Shiba inu came into existence as the Dogecoin competitor, rather a satire, which itself was created as a parody to the famous cryptocurrency; the bitcoin. Some, to this day, confuse one for the other owing to the similarities between the two.
In the past year, Shiba has shown incredible growth, with its market cap, exceeding that of big companies such as HP and Nokia, valued at over a staggering $38.5 billion.
During the last week of October, the token hit its all-time high price of $0.000077.
It is also noted that every time SpaceX founder Elon Musk posts anything remotely related to his dog or cryptocurrencies, the value of the Shiba token fluctuates.
The coin seems to be an attractive investment because it seems to give quick gains in a short period of time and also because it seems to be a very affordable option.
Despite all this, the coin is said to be a tricky investment, as some call it volatile and others call it not a trustworthy source of investment.
Should I Invest In the Shiba Inu Token?
Cryptocurrencies are in general very high-risk investments, more so when the crypto currency appears to show rapid growth due to individual retailers investing into the coin, to artificially drive up its price to earn quick money.
Although there still is a good chance of the cryptocurrency thriving owing to its virality, it’s not assured how long this trend might last.
It might be extremely tempting to jump into investing in this coin due to its incredible growth, almost overnight, but the long-term forecast of the value and returns of the coin remain uncertain. If you are not a risky investor, Shiba Inu might not be the best investment to make.
Therefore if investing in Shiba Inu, it is advisable to go in prepared to lose everything you invest in and have zero expectations.
Will The Shiba Inu Price Increase?
Due to the pandemic slowly coming to its end and the markets opening up again, the Shiba Inu coin seems to be doing extremely well and this trend might continue, going into the year 2022.
This is due to the privacy provided by the coin to its users for all transactions.
In the next 4 years, that is towards the end of the year 2025, analysts claim the price of the Shiba Inu token may range anywhere between $0.0000232 to $0.00008967
By the year 2030, although some investors are skeptical, others claim that the value may reach up to $0.00016359 which is a tremendous increase.
Having said this, the value of a cryptocurrency like Shiba Inu, due to its uncertainty, may also drop to have no value.
