Is Shiba Inu a good investment?

Is Shiba Inu a good investment? Should I invest in Shiba Inu today? If you are struggling with these questions after Shiba Inu’s massive rally last year, you are not alone. These are questions that many investors are dealing with, especially with the increased volatility in the cryptocurrency market. To help reduce your confusion and fears, the answer is yes – Shiba Inu is a good cryptocurrency investment, and it could make you rich. 

One of the factors likely to play in Shiba Inu’s favor is its recent entry into the Metaverse. The Metaverse is considered one of the next big things in crypto. Some analysts even expect the Metaverse to hit a market value of $8 trillion by the end of this decade. However, the Metaverse is just one of the reasons why investing in Shiba Inu could be a profitable move. 

Shiba Inu was one of the best performing cryptocurrencies in 2021. It went up by 48,000,000%, easily beating the likes of Bitcoin and Ethereum by a considerable margin. While Shiba Inu has been on a downtrend, it has been in sync with the broader market. Essentially, it means that once the broader market turns bullish again, Shiba Inu has the chance to do well. 

In this article, we look at the good and the bad of Shiba Inu. By the end of this article, you should be in a position to make an informed decision on whether you should invest in Shiba Inu or not. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

So, What is Shiba Inu? A Simple Explanation

Shiba Inu is one of the most popular meme coins in the market today, with a fast-growing community online. 

Shiba Inu is the second-largest meme coin and ranks closely with Dogecoin in the meme coins category. SHIB tokens power the Shiba Inu network, but the Shiba Inu ecosystem also uses other tokens such as BONE and LEASH. 

While it is primarily a meme token, Shiba Inu has multiple other applications in the digital payments space. 

For instance, Shiba Inu is used for payments, and several major organizations such as AMC Theaters are already accepting Shiba Inu for payments. 

With such growing adoption, it is not surprising that analysts believe Shiba Inu can outperform Bitcoin, Ethereum, and other top cryptocurrencies. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Shiba Inu Investing: Getting Started

To invest in Shiba Inu, you should first register online with a broker that has listed Shiba Inu. 

A cryptocurrency exchange is a platform for buying and selling Shiba Inu or any other cryptocurrencies. 

There are a few reasons why investors should seriously consider buying Shiba Inu now. 

Shiba Inu is one of the most famous meme coins in crypto today. While the price may have tanked in Q1 of 2022, the hype is still strong in Shiba Inu and meme coins in general. For this reason, a lot of investors believe that Shiba Inu is a good investment relative to many other cryptocurrencies. That’s why many analysts are bullish that Shiba Inu has an excellent chance to go up in value long term. 

One of the key reasons to consider Shiba Inu is that it is one of the cheap cryptocurrencies in the market today. When writing this article, Shiba Inu was trading at $0.00002097. This makes it an attractive investment for new investors who want to get into crypto but don’t have much to invest. Since Shiba Inu also has the hype factor, investors expect it to do well long term, further adding to its attractiveness as a cheap cryptocurrency to buy today. 

Another reason why to buy Shiba Inu today is its tokenomics. Shiba Inu had one quadrillion tokens in circulation when it first entered the market. By Mid-2021, close to 50% of this supply had been taken off the market. This followed a decision by Vitalik Buterin to burn the 50% of tokens that had been allocated to him by the Shiba Inu team when they launched. Since then, Shiba Inu has continued to burn tokens. In fact, the Shiba Inu team launched a token burn platform in April 2022. This means SHIB tokens will get scarce over time, and going by the economics of demand and supply, Shiba Inu has the potential to become one of the best-performing meme coins going into the future. 

If, up to this point, you are still unsure of whether Shiba Inu is a good investment, consider the fact that it has a lot of positive developments going on in its ecosystem. One of the big developments that the Shiba Inu team has actualized in 2022 is the launch of Shibarium. This is a Shiba Inu layer-2 solution designed to help Shiba Inu scale better while also lowering transaction costs.

Shibarium is a big deal because costs are a factor that discourages some investors from buying or transacting in Shiba Inu. As it stands, to transact in Shiba Inu, you need to pay Ethereum gas fees, which can go as high as $30 per transaction. With Shibarium, traders and investors get to bypass these gas fees, which is likely to drive up SHIB transaction volumes, and potentially adoption going into the future. 

Another reason why Shiba Inu is a worthy cryptocurrency to buy today is its growing levels of adoption. A year ago, Shiba Inu was considered nothing but just another meme token trying to catch the wave around meme coins and stocks. This perception is changing, though, and nothing points to this than the growing adoption of Shiba Inu by multiple organizations that have global recognition. Some companies that accept Shiba Inu today include Twitch, Newegg, APMEX, David SW, and AMC Theaters. Now that the Shiba Inu team is working towards cutting costs, more organizations could start accepting Shiba Inu payments, further driving up its demand. 

Another reason to invest in Shiba Inu today is that it could draw a lot of hype related to Robinhood in 2022. There is a lot of expectation that Robinhood could list Shiba Inu in 2022. This is a big deal because Robinhood is known to attract many American investors who don’t want to trade through the more complex exchanges. The power of Robinhood was most evident in early 2021 when it contributed to the massive rally in the price of Dogecoin, with DOGE ultimately recording gains of 12,000%. Therefore, if Robinhood lists Shiba Inu by any chance, it could trigger a rally that could easily see SHIB outdo its 2021 gains.

Shiba Inu also makes for a good meme coin investment today due to hype around it as a Dogecoin killer. When it hit the market in 2020, Shiba Inu positioned itself as a Dogecoin Killer. This market positioning was part of the reason why Shiba Inu rallied by millions of percentages in 2021. Today, Shiba Inu still positions itself as a Dogecoin Killer. This means once hype returns to the cryptocurrency market, Shiba Inu could easily repeat its gains of 2021 in the foreseeable future. 

There is also the fact that Shiba Inu benefits from Elon Musk’s hype. While Elon Musk is a big fan of Dogecoin, Shiba Inu also tends to pump whenever Musk tweets about his dogs. Now that Elon Musk has bought Twitter, his tweets about cryptocurrencies could gain even more weight. This factor could see Dogecoin, Shiba Inu, and other cryptocurrencies he supports pump going into the future. 

Shiba Inu also has excitement around the mysterious nature of its founder(s). Just like the identity of Bitcoin’s founders is unknown, the founders of Shiba Inu are unknown as well. This mystery adds to the excitement and could see Shiba Inu become one of the top-performing meme cryptocurrencies to buy in 2022. 

Lastly, buying Shiba Inu is a fantastic way to diversify a cryptocurrency portfolio. Since meme coins tend to outperform top cryptocurrencies like Bitcoin in bull markets, including a meme coin like Shiba Inu in a crypto portfolio makes sense. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Will Shiba Inu Overtake Bitcoin?

Shiba Inu is a top 20 cryptocurrency, and going by the explanations above; there are many reasons to invest in Shiba Inu instead of Bitcoin. While Bitcoin has a bigger market capitalization and is more established than Shiba Inu, Shiba Inu has several advantages that make it a better investment than Bitcoin in the long run. 

As discussed above, Shiba Inu is much cheaper than Bitcoin. This means it is more accessible to investors who don’t have thousands of dollars to throw at the cryptocurrency market. 

Shiba Inu is also likely to benefit more from hype compared to Bitcoin. Shiba Inu is, by nature, a hype token. With a community running into millions across platforms, it stands a chance to draw a lot more speculative investors than Bitcoin in the future. Besides, Shiba Inu has already introduced several features that are likely to drive up the hype going into the future.

For instance, the recently launched Shiba Inu Metaverse is likely to drive up the hype around Shiba Inu in the short term and in the long run. The Metaverse is on a growth trajectory, and some analysts expect it to become a multi-trillion-dollar market in the foreseeable future. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Will Shiba Inu get as high as Bitcoin?

Chances are pretty low that Shiba Inu will ever have a market capitalization higher than Bitcoin in the foreseeable future. Per TradingView, Bitcoin today has a market dominance of 42%. Comparatively, Shiba Inu has a market dominance of less than 1%.

Shiba Inu had a market capitalization of $11.59 billion when going to press. This is tiny compared to Bitcoin, which currently has a market capitalization of $731.26 billion. Essentially, for Shiba Inu to have a similar market capitalization to Bitcoin, it would need to grow by 63x from its current price. This is highly unlikely as it would give Shiba Inu an unrealistic market capitalization when you factor in its token supply. 

Besides, while there is a lot of hype around Shiba Inu, it remains a meme coin with little utility. On the other hand, Bitcoin is the number one cryptocurrency, and even people who know very little about cryptocurrencies have heard about it. Bitcoin is also gaining mainstream acceptance as a global currency. For instance, several countries now accept Bitcoin as legal tender, and many more are joining the trend.  

It is also noteworthy that while Shiba Inu is a top trending meme coin, this isn’t likely to last. Meme coins are just a fancy trend, and once something else comes up, the money will flow there. However, since Bitcoin does not rely on hype, it is likely to remain as it is while recording steady organic growth in value. Therefore, while Shiba Inu is expected to keep going up, it is unlikely to outperform Bitcoin going into the future. 

How Much Could Shiba Inu Be Worth?

While no one can confidently tell how high Shiba Inu can go, most analysts have optimistic projections for it. Some analysts believe Shiba Inu could test $0.0001 in five to ten years.

While it can be hard to predict Shiba Inu’s potential direction, the many positive developments around Shiba Inu and its ecosystem make analysts bullish that SHIB is a cryptocurrency that could make new highs in the decade. 

One of the more notable Shiba Inu price predictions is by Wallet Investor. This crypto prediction site projects that Shiba Inu could be worth $0.000142 in the next 5-years. Coin Price Forecast has a more modest forecast for Shiba Inu and expects it to trade at $0.000005993 by 2025. TradingBeasts, another cryptocurrency predictions website, has a pretty close prediction to Coin Price Forecast and expects Shiba Inu to trade at $0.0000464 by 2025. 

The longer-term we look at Shiba Inu, the harder it becomes to accurately predict how much SHIB could be worth in 2025. All you need to know is that the majority of the predictions believe Shiba Inu is one of the cryptocurrencies that could 3x your money by 2025. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Will Shiba Inu go up in 2022?

Shiba Inu has largely been bearish for most of 2022. However, most analysts believe that the price of Shiba Inu has a high chance of making a rebound in the year. 

The ups and downs of cryptocurrencies are common, and you need to invest with this volatility in mind. To have a clearer view of the market, it is best to take a long-term view. As the years go by, short-term corrections will disappear as adoption, and broader cryptocurrency market growth drives up the price of Shiba Inu. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Who Should Invest in Shiba Inu?

– Day traders: Shiba Inu is one of the more volatile cryptocurrencies around. It is also highly liquid making it perfect for traders looking to capitalize on short-term price movements. 

– Crypto traders: Shiba Inu is a perfect addition to a portfolio for anyone looking to invest in crypto long term. SHIB is one of the top 10 best-known meme coins, which means it has a bright future.

– Blockchain Enthusiasts: Anyone who believes in the transformative nature of blockchain technology has a reason to bet on Shiba Inu. Shiba Inu is getting into high potential markets like the Metaverse and could record growth as these markets grow.

– Forex Traders: With fiat currencies getting increasingly risky due to macro-economic and geopolitical issues, cryptocurrencies seem like a perfect alternative. Besides, cryptocurrencies like Shiba Inu have the potential to outperform fiat by a considerable margin in bull markets, as they have done in the past. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Is it too late to buy Shiba Inu?

The cryptocurrency market is in its early days, so no. It is not too late to invest in Shiba Inu. Many analysts believe that Shiba Inu is likely to make new highs in the foreseeable future. 

However, Shiba Inu’s growth potential does not mean that you throw a cushion to the wind. Cryptocurrencies are highly volatile, and it is always best to invest what you can afford to lose. 

Nonetheless, if you have some money set aside for cryptocurrency investments, now could be the perfect time to buy Shiba Inu. That’s because SHIB is about 76% from its all-time highs, making it relatively cheap and a low-risk buy. 

Does Shiba Inu have a future?

Yes, Shiba Inu has a bright future ahead of it. Shiba Inu started just like any other meme coin. However, it has since grown to encompass many different aspects of blockchain technology that are likely to drive its growth going into the future. For instance, Shiba Inu now has a layer-2 solution for cheaper transactions, a DEX, and entered the fast-growing Metaverse space more recently. 

However, like every other asset, Shiba Inu has its risks. One of the most significant risks to Shiba Inu is that some of its more noteworthy developments may not impact the token’s value. For instance, the Shiba Inu Metaverse lands are sold in Ethereum tokens. This means it is possible for the Shiba Inu Metaverse to grow, but without much of an impact on SHIB tokens. 

Another risk to Shiba Inu is that if the excitement around meme coins goes away, the price of SHIB could struggle. Compared to something like say, Bitcoin or Ethereum, Shiba Inu has very little in terms of fundamentals. There are very few use cases for the token, and most of its value is derived from hype. 

There is also the fact that there has been an explosion of dog-themed meme coins in 2022. Most of them also have a much lower market cap than Shiba Inu. These new meme coins could attract more hype than Shiba Inu going forward. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

How safe is Shiba Inu?

Shiba Inu is largely considered to be a safe cryptocurrency. Shiba Inu is built on the proven Ethereum blockchain, making it relatively safe from attacks. 

Besides, as adoption and the community grow, the lower the chances of Shiba Inu losing relevance and going into obsolescence.  

Aside from the technical aspects of Shiba Inu itself, to ensure that you stay safe when investing in Shiba Inu, make sure only to buy SHIB from reputable cryptocurrency exchanges. Once you buy, store your Shiba Inu in a secure cryptocurrency wallet. Never leave your cryptocurrency coins on an exchange for so long. 

How legit is Shiba Inu? 

Shiba Inu is as legit as they come. Recently, there has been a lot of regulatory scrutiny on cryptocurrencies that have similarities to securities. Shiba Inu does not have this risk and is unlikely to face any regulatory crackdown. When you buy Shiba Inu tokens, you are not getting a stake in any company. 

The only risk when investing in Shiba Inu is that there are so many SHIB scams online, mostly on social media. Newbie investors may easily find themselves a victim of such scams. 

For this reason, cryptocurrency trading education is important before you invest in Shiba Inu. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Alternatives to Shiba Inu

If you are a little concerned about some of the risks mentioned above regarding investing in Shiba Inu, there are many alternatives to Shiba Inu out there. Some of the biggest Shiba Inu competitors are Dogecoin (DOGE), Baby Dogecoin (BABY DOGE), Dogelon Mars (ELON), and King Floki (FLOKI). 

By buying any of these coins, you have a pretty good hedge against Shiba Inu’s risks. 

Conclusion: Is Shiba Inu a Good Investment?

Yes, Shiba Inu is a good investment and is top cryptocurrency to consider adding to an investment portfolio. Since it launched, Shiba Inu has already made a lot of investors rich. 

For context on how easy it is for Shiba Inu to make you rich, consider the fact that anyone who invested just $10 in Shiba Inu in 2020 was a millionaire by the end of 2021. Clearly, Shiba Inu has been a good investment so far. However, before you jump into Shiba Inu investing, take time and understand what Shiba Inu is all about, including the risks involved. 

Shiba Inu is a good  investment, However all investments carry risks. If you have considered all the risks and are ready to buy Shiba Inu, consider buying at eToro. The platform is a regulated exchange, and you get access to more than 100 cryptocurrencies and other assets. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

FAQs

How can I get free SHIB?

It is not easy to get free SHIB tokens. However, if you don’t want to buy Shiba Inu tokens, you can offer services and accept SHIB payments. You can also participate in online surveys and get paid in Shiba Inu tokens. Just make sure to only do such surveys on reputable sites as there are many scams where you can lose access to valuable data that can then be used to attack you. 

Can Shiba Inu make you rich?

Shiba Inu can make you rich. Shiba Inu has made many investors millionaires out of relatively small investments. With all the developments going on within the Shiba Inu ecosystem, there is a chance that Shiba Inu can still make long-term investors rich. 

Is Shiba Inu a pyramid scheme?

Shiba Inu is not a pyramid scheme. Shiba Inu is decentralized, and millions of people worldwide hold Shiba Inu tokens. 

Is it better to buy Bitcoin or Shiba Inu?

A savvy investor would consider adding Bitcoin and Shiba Inu to their investment portfolio. That’s because both cryptocurrencies have the potential to perform well long term. However, it would be better to have more Bitcoin than Shiba Inu in a portfolio from a risk management perspective. Bitcoin is the number one cryptocurrency. With the level of institutional adoption, it is getting, the chances are that Bitcoin is a pretty safe yet high-growth cryptocurrency to buy now. 

How long will Shiba Inu last?

As long as the demand is there, Shiba Inu will always be around. With all the future-oriented features that the Shiba Inu team is coming up with, such as a DEX, and the Metaverse, Shiba Inu is only going to get bigger. 

When should I sell my Shiba Inu?

When to sell your Shiba Inu is a function of trading behavior. For instance, if you are a day trader, you can buy and sell Shiba Inu at any time you believe there is an opportunity to enter and exit the market profitably. 

Conversely, if you are a long-term investor, consider holding Shiba Inu over the next couple of years. Exit once you feel the opportunity for more gains is significantly diminished. 

Can you cash out Shiba Inu?

Shiba Inu is one of the most liquid cryptocurrencies out there. If you have invested in Shiba Inu through an exchange, all you have to do is sell. On the other hand, if you hold your SHIB in a wallet, you can send them to a DEX or a centralized exchange and sell them. 

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Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.