Is Shiba Inu (SHIB) A Good Buy?
Should you buy Shiba Inu in 2021? How much will it be worth a few years down the line, and how much should you consider investing in Shiba Inu?
Well, if a good investment is an asset that makes you earns you handsome profits, then YES, Shiba Inu, the Dogecoin killer, is a good investment. It is currently in a dip, but crypto experts are confident that it will rise again and earn its investors good money. It is a lowly priced and hype-driven altcoin. Crypto experts are confident that if the current media buzz surrounding meme cryptocurrencies carries on, SHIB token prices will hit significant heights - effectively making it a good investment.
Crypto industry observers say that a few factors give Shiba Inu an edge over pioneer and established cryptocurrencies like Bitcoin or Ethereum. Hence the appeal to individuals looking to dabble in cryptocurrencies.
But how much could it worth, and what portion of my portfolio should I dedicate to Shiba Inu?
We answer these and more questions that help you decide if Shiba Inu is indeed a good buy in this crypto investment guide.
First, though, we want to understand what Shiba Inu is.
What Is SHIBA Inu?
Shiba Inu or SHIB token is an Ethereum-based altcoin created by the mysterious and pseudonymous “Ryoshi” as an “experiment in decentralized spontaneous community building.” It is an ERC-20 token that is modelled off the all-popular joke cryptocurrency - Dogecoin. It adopts the name of a breed of dog native to Japan - Shiba Inu - which also serves as Dogcoin’s logo. Hence the nickname Dogecoin killer.
SHIB tokens launched in August 2020 when the altcoin development team created 1 Quadrillion Shiba Inu tokens. They would remain pretty valueless and trading around the listing price of $0.0000000009 until April 2021, when they started attracting little social media hype.
The tokens biggest moment came about after two tweets by Elon Musk on 7th and 14th May, where he expressed interest and intent to add the Dogecoin Killer tokens to his portfolio. Today, the altcoin is trading around $0.000055 with a market capitalisation of $30 Billion. It is also ranked position 11th on CoinMarketCap’s list of largest cryptocurrencies.
The rapid growth makes it one of the fastest-growing cryptocurrencies. But does it, in effect, make it a good investment?
Is Shiba Inu a Good Investment?
Shiba Inu is currently a trending topic in the crypto world, with mentions from notable crypto industry experts and celebrities. It is also one of the fastest-growing altcoins for the year 2021. And for a cryptocurrency that derives much of its value from social media hype and celebrity endorsements. This makes it a good investment.
Some of the more fundamental factors that make Shiba Inu a good investment today include:
Low prices: Despite all the hype and unrealistic growth that SHIB tokens have received in the last three months, their prices are still relatively low. For instance, with just a dollar, you can own 38,000 SHIB tokens today. And this, together with the huge potential for growth, places it at a vantage point above such established coins as Bitcoins and Ethereum.
Positive overall ROI: In the 14 months that Shiba Inu has been around, its price has appreciated by more than 3,300,000%. Despite the recent dip, the SHIB token is still a good buy because experts expect it to rebound and score an even higher ATH.
Potential for growth: Investors, market observers, and crypto price prediction websites are optimistic that, moving into the future, the cryptocurrency will rebound and continue rising. While they do expect Shiba Inu to hit such exotic price levels as $1, most expect it to break above its October 2021 ATH in the next year.
Hype and endorsements: As deVere Group CEO - Nigel Green - rightly puts it, altcoins like Shiba Inu have no real value. Rather, their value lies in the reach and impact of their social media hype. Moving forward, you can expect SHIB tokens to continue riding the publicity that they are currently getting from such celebrities as Elon Musk and the crypto community, making a good investment.
In anticipation of better and hype-driven performance from Shiba Inu moving forward, you must be asking; how much should I invest in Shiba tokens then.
How Much Should I Invest in Shiba Inu?
There currently is no standard on how much you can or should invest in Shiba Inu or any other cryptocurrency. How much you commit to buying SHIB tokens should be informed by such factors as your investment goals, amount of disposable cash at hand, risk tolerance level, and understanding of the crypto market dynamics.
Keep in mind that cryptocurrencies - including Shiba Inu - are some of the most volatile investment products around today. If you are a beginner to crypto trading or only have moderate trading experience, you are advised to engage the guidance of a professional trader.
As always, and s with any other investment, we encourage you to only invest in Shiba Inu what you can afford to lose.
How Much Could Shiba Inu Be Worth?
At the moment, the crypto community is confident that Shiba Inu will rise again soon. The extent to which the coin can rise in the current year or the next, however, remains debatable. Most price prediction websites and cryptocurrency analysts are, however, confident that the Dogecoin killer will be worth more at the end of the year and in the next five years than it is today.
For instance, Gov.Capital - a price prediction website - expects the ERC-20 token to end 2022 trading around the $0.000125 price level and growing this to $0.000583 by the end of 2025.
Analysis by Coin Price Forecast, yet another website that uses technical analysis to forecast the future prices of digital currencies, indicates that the token may end 2022 selling for $0.0003827. The analysis then suggests that SHIB token prices will continue rising and trading for 0.001414 by the end of 2025.
Crypto experts at Economy Forecast Agency are also confident that if the media buzz and hype around the rallies on, SHIB tokens may set a new ATH before the end of 2022 reaching $0.00010038.
Don't Miss: Will Shiba Inu (SHIB) Reach $1?
Should You Invest In Shiba Inu?
You should only consider investing in Shiba Inu if you are totally convinced that Shiba Inu prices will continue rising in the foreseeable future.
But if you are looking for different expert opinions to help shape your decision. Any crypto analyst will tell you that they are currently laying back in a wait and see pose, watching as the Shiba Inu price action unfolds.
They are fifty-fifty on whether to invest in the coin or wait for it to break out in any direction. CoinFlip CEX, Ben Weiss, recently brought forward what is in every investor’s mind when he said that “(Shiba Inu’s) price could certainly g up, but it could just as easily come down.”
It is a catch 22, if you wait and the SHIB token prices break put upwards, you miss out on what could potentially be one of the most profitable crypto rallies in days. And if you go in hard now, and it dips further, you get burned.
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Virtual currencies are highly volatile. Your capital is at risk.
- There is no telling the price direction that Shiba Inu prices will take from here. They could certainly go up, and they could tumble just as easily.
- FOMO, a rallying crypto market, social media hype, and celebrity endorsements will continue influencing SHIB token prices moving forward.
- Shiba Inu tokens are expected to be worth more at the end of the year and in the next 5 years than they are today. Coinpedia, for instance, expects it to hit $0.0001 before December 2022.
- Shiba Inu is certainly a good buy - but the situation can change if the crypto market suffers another shock or its social buzz loses steam.