0

Is Shiba Inu Coin A Good Investment And Should I Invest In SHIB?

Shiba Inu Coin Could Become the Next Large Cap Digital Asset. So, that being said, is Shiba Inu (SHIB) A good investment? In this article you will find out the answer to that question and a lot more information to help you decide for yourself

Last Updated October 14th 2021
32 Min Read

Are you wondering if the bullish outlook of the crypto market presents the perfect opportunity to buy Shiba Inu Coin? Or maybe you are like thousands of people who are unsure if Shiba Inu Coin is safe to invest in? 

If you are new to the world of meme-inspired currencies and therefore Shiba Inu Coin investing, you may have asked questions such as, is Shiba Inu a good investment, or should I Invest in SHIB? 

Well, according to many predictions for SHIB, YES is the answer to those questions. According to several price predictions, Shiba Inu is likely to a good investment and investing in Shiba Inu Coin could bring you enormous gains in the future as it has for many already. 

Shiba Inu Coin has increased substantially since the start of 2021. SHIB has raked in huge gains for traders and investors considering it had an insignificant value at the start of the year. With the daily trading volumes being recorded which are used for fundamental and technical analysis; the figures posit that SHIB shows no signs of slowing down in the short or long term. Experts and analysts across the most credible cryptocurrency news and prediction portals believe SHIB has plenty of room for growth ahead and that investing in Shiba Inu Coin is one of the best financial decisions you could ever make. Therefore, the current bearish outlook of the cryptocurrency market in the middle of May and the whole of June presents a good time to invest in Shiba Inu Coin (SHIB) while the coin is trading at a relatively lower price.

One of the biggest reasons to invest in Shiba Inu Coin is its thriving fanbase. SHIB is being discussed across international chat rooms, social media influencers, and meme-makers as part of the community behind the crypto’s success.

With continued hype from these influencers and other well-known personalities, the price of Shiba Inu Coin may increase immensely. But that’s just one of many reasons why investing in Shiba Inu Coin could be profitable. 

In this article, we’ll break all Shiba Inu-related myths circulating online and help you decide as to whether you should consider investing in Shiba Inu Coin. 

If you want to invest in Shiba Inu Coin easily and quickly, with 0% Commission, check out eToro Exchange!

Contents:

What is Shiba Inu? A Simple explanation

Is Shiba Inu a Good Investment?

Should I Invest in Shiba Inu Coin?

Should I Invest in Bitcoin or Shiba Inu Coin?

How Much Could Shiba Inu Coin Be Worth?

Who Should Include Shiba Inu Coin In Their Portfolios?

Is Investing in Shiba Inu Coin Risky?

Does Shiba Inu Have a Future?

Conclusion: Is Shiba Inu Coin a Good Investment?

FAQs

What is Shiba Inu? A Simple explanation

Shiba Inu is one of the most popular meme-inspired protocols that run on the most popular smart contracts blockchain technology in the world, Ethereum. 

Shiba Inu uses its token, Shiba Inu Coin (SHIB) to power transactions on its protocol. SHIB is the ticker symbol it trades by on the various cryptocurrency exchanges it is listed on. 

Shiba Inu was created by a group of people who go by the pseudonym RYOSHI and released to the public in August 2020. This was the same time that its novel token SHIB became a crypto trading asset opening with an insignificant amount on the various exchanges. 

Dubbed the Dogecoin Killer, this is a community-driven project based on the Shiba Inu dog meme. Unlike other crypto projects that go through an initial coin offering (ICO) and see millions of funds through angel investors, Shiba Inu had no funding.

What’s more, there is no centralized team and no direct leadership. The future of the project lies in the hands of the masses who have dedicated their hard-earned money to follow Shiba Inu to the end. The development team behind the project pointed out that Shiba Inu “Is an experiment in decentralized spontaneous community building.” 

The distribution of the SHIB tokens was done unconventionally. 50% (500 trillion) of the tokens were sent to the founder of Ethereum, Vitalik Buterin and the remaining 50% (500 trillion) was locked up on decentralized exchange Uniswap.

There are 394.79 trillion tokens in circulation from a total supply of 1 quadrillion. As an ERC20 token, Shiba Inu is building a decentralized exchange (DEX) called ShibaSwap to compete with Uniswap and SushiSwap on Ethereum, PancakeSwap on Binance Smart Chain, and JustSwap on the Tron Network. According to the official website of Shiba Inu, the final touches of the DEX are ongoing and sceptics, as well as fans of the crypto, would be informed once the launch takes place. Its novel token SHIB will be the first digital currency listed on the decentralized exchange.

Shiba Inu Investing: Getting Started 

To start investing in Shiba Inu Coin, you first need to register online with an exchange that will allow you to buy and invest in Shiba Inu Coin. 

A cryptocurrency exchange or brokerage are online trading and investing platform that allows you to buy, sell, and hold SHIB and other cryptocurrencies. eToro provides up to 90 cryptocurrencies. You can patronize the platform and start your trading journey on a safe and secured note.

 

Is Shiba Inu a Good Investment? 

As Shiba Inu is one of the 50 largest crypto platforms, many crypto experts believe that Shiba Inu Coin is a good investment compared to other mainstream cryptocurrencies, and other DeFi tokens. Despite all the ups and downs in the price history of SHIB, analysts believe that Shiba Inu Coin’s price could grow further in the long term. 

One of the factors that will influence investing in SHIB in 2021 is being listed as an option of payment by GrupoCinco.

On Thursday, 17th June 2021, it was announced that GrupoCinco, a company that describes itself as the largest entertainment group in Paraguay will start accepting cryptocurrencies including SHIB in July. Shiba Inu Coin from 1st July 2021 will be accepted as a form of payment at 24 outlets controlled by the company which includes pubs, restaurants, and nightclubs. This announcement comes after Paraguay looks forward to attracting international Bitcoin mining companies and other crypto-related businesses to the country after Congressman Carlos Rejala prepares to present a bill to the nation’s Congress. 

But how does this affect the price of SHIB? Once GrupoCinco starts accepting Shiba Inu Coin, the cryptocurrency would be exposed to the 50,000 customers per month who patronize the various outlets of the company. Aside from this, GrupoCinco owns G5Pro. G5Pro is a live entertainment business unit that was able to sell an impressive 450,000 tickets to events in 2019. With time, G5Pro being a subsidiary of GrupoCinco would start accepting SHIB as an option of payment. This opens up the cryptocurrency to a new market in another section of the entertainment business.

Payments will be processed through the Lightning Network to help Shiba Inu scale relatively faster since it relies on the same proof-of-work (POW) algorithm Ethereum employs in processing transactions. The last statistic is that more than 80% of the company’s customers are aged between 18 and 25.

What’s more, more than 60% of the Paraguayan population is under the age of 30. This partnership is going to encourage Paraguayans and the whole South American region to use cryptocurrencies in their daily activities. Since SHIB plays a great role in fostering the development, adoption, and use of digital assets, the cryptocurrency will continue to see liquidity. This will be reflected in its daily transaction counts, trading volumes, and market capitalization.

Changelly has weighed in on the discussion and believes investing in SHIB in the short and long term is a good investment. According to the experts, Shiba Inu Coin may rise and reach $0.00002023 by the end of 2021. The crypto news and prediction website estimate SHIB might continue to grow and command a trading price of $0.00002230 by the year’s end of 2022. 

Read Also: 15 Reasons Why You Should Invest in Shiba Inu Today

Should I Invest in Shiba Inu Coin? 

Why should I consider investing in Shiba Inu Coin? Well, Shiba Inu is a relatively new project in the meme-inspired and entire decentralized finance space. Based on increased interest in the asset and the kind of mileage it has received within 10 months of being in the space, SHIB can help revolutionize how traders and investors go about owning digital assets.

One of the major reasons why you should invest in Shiba Inu Coin is its embrace by Coinbase Pro for enlistment in such a short period of crypto trading experience.

On Tuesday, 15th June 2021, Coinbase announced that it would be enlisting three new digital assets for trading on Coinbase Pro. They were Chiliz (CHZ), Keep Network (KEEP), and Shiba Inu (SHIB). On that day, Coinbase Pro users could trade SHIB into their accounts. Trading of SHIB on Coinbase officially began on Thursday, 17th June 2021 after all liquidity requirements were met. SHIB has now gained a seat among top cryptocurrencies listed on Coinbase Pro recently such as Polkadot (DOT), Internet Computer (ICP), Dogecoin (DOGE), Tether (USDT), Curve DAO Token (CRV), Cardano (ADA), Polygon (MATIC), and Enjin Coin (ENJ) among others. 

Coinbase Pro is one of the top cryptocurrency exchanges worldwide. It has approximately 56 million verified users. More than 134,000 ecosystem partners and 8,000 institutions in more than 100 countries trust Coinbase by using it to securely and easily invest, save, earn, spend, and use crypto. In a study conducted by Statista which studied the 100 biggest cryptocurrency exchanges in the world on Monday, 17th May 2021, primarily over a 24hour period with a focus on volume recorded, Coinbase Pro came in 6th place with $11.24 billion

Right after the listing was announced; the price of SHIB was up by more than 37% after opening the day at $0.00000708 and reaching an intraday high of $0.00000975

This listing is one of several to come. Co-founder and CEO of eToro in an interview with Business Insider hinted that the exchange could consider adding SHIB in the future. 

One other factor which should make you consider investing in SHIB is its fans. Like other meme-inspired currencies such as Dogecoin, Shiba Inu has a great following across social media platforms Twitter, Reddit, and Facebook. After the gold mine of Dogecoin in the 1st quarter and early days of the second quarter in 2021, Elon Musk tweeted about Shiba Inu and this saw the cryptocurrency make huge gains in May before the lows followed in the last week of the month. This directed millions of people to consider SHIB as an alternative digital asset they could have on their portfolio of investments.

Coin Quora thinks traders and investors should consider investing in Shiba Inu coin. According to analyst Jay Manila, SHIB could command the best possible price of $0.0000316 up to $0.0009 from 2021 to 2022. This means that in the short and long term, investing in SHIB could see you with a return of 1,300%. This is a great reason to consider deciding on the meme-inspired currency.

 Check Out: Pros and Cons of Investing in Shiba Inu Coin

Should I Invest in Bitcoin or Shiba Inu Coin? 

You should invest in whichever coin appeals to you most based on the facts, Bitcoin is by far the most known and established however Shiba Inu has a fast growing fanbase and could have the potential for a greater upside for potential investors should it continue to grow in popularity. Shiba Inu Coin (SHIB) is currently the 18th biggest cryptocurrency by market cap while Bitcoin (BTC) is the most popular and largest digital asset globally. SHIB has a trading price of $0.00002875 and Bitcoin has a price of around $57,645

We all know that SHIB was created to be an Ethereum-alternative to the most popular meme coin, Dogecoin. Bitcoin was created to be a decentralized alternative to the most popular money we all know as fiat currency (USD, EURO, GBP, YEN, and YUAN, etc.). Unlike Bitcoin which was designed to be scarce and it’s capped at 21 million, SHIB is intentionally abundant and capped at 1 quadrillion. The two cryptocurrencies have a scarcity to look forward to someday. But without a doubt, it could be seen that there is a huge chance that BTC would reach scarcity before SHIB. This is because BTCs price is creating up towards its all-time high of around $64,000 recorded in April 2021.

Moreover, Bitcoin has made a recent announcement that is highly integral to the future of cryptocurrency. Because of its high decentralization, miners have voted on upgrading the infrastructure of the blockchain which will take effect in November 2021. This upgrade will improve the efficiency and privacy of the network as well as unlock smart contracts. Called TAPROOT, this upgrade will see BTC used as a transactional currency, store of value, and a token that powers the decentralized finance applications running on its blockchain. Shiba Inu is not a blockchain; it is a protocol running on the blockchain of Ethereum. It is also making strides in the DeFi space by announcing the launch of a decentralized exchange called ShibaSwap in the future, possibly before the end of 2021. This will increase activity on SHIB as well. This means that the two projects are making strides in getting a huge part of the market. 

The fundamental analysis points to BTC as the best investment of the two suppose all the milestones are achieved. Unfortunately, we cannot base such a great decision on just fundamentals. We must include technical analysis to be able to have a better thesis on which to make a great decision. The price forecasts of Wallet Investor on SHIB and BTC are being employed to help us understand the potential price patterns of the digital assets in the short and long term. 

In the short term, the experts at Wallet Investor estimate Shiba Inu Coin to command a trading price of $0.000010 by the end of 2021. The same experts believe Bitcoin could have a trading price of $57,270 by the year’s end of 2021. In the process, SHIB could return at least 40% and BTC could bring you gains of at least 30%. Both of these predictions were already exceeded by October 2021.

In the long term, the experts predict SHIB to trade for a coin at $0.00006 in 5 years. The same experts forecast Bitcoin to have a trading price of $196,081 in 5 years. In the process, SHIB could return at least 757% and BTC could bring you a return of at least 359%.

From the price forecasts of Wallet Investor, we can boldly predict that SHIB is likely a better investment that could bring you the most gains in the short and long term. 

Will Shiba Inu Coin Ever Overtake Bitcoin / Will Shiba Inu Coin Get as High as Bitcoin?

Shiba Inu Coin could get as high as Bitcoin or even surpass it someday due to the unpredictable nature of cryptocurrencies. With that said, you must take into consideration several factors such as popularity, the number of exchanges listing the cryptocurrencies, current price, total supply, trading volume, and market capitalization. SHIB is currently trading for an infinitesimal value which is insignificant to the price of relatively lower-priced assets such as Dogecoin (DOGE) and Tron (TRX).

SHIB took advantage of the rallying of prices in the first 2 weeks of May and reached an all-time high of $0.0000388 on Monday, 10th May 2021. On the other hand, Bitcoin soared to a new all-time high price of $64,863.10 on 14th April 2021. For SHIB to reach such a price, it must gain at least 167,173,000,000%. With that said the highest forecasted price for SHIB and BTC stands at $0.00006 and $196,081 respectively by the close of 2026. From the statistics provided, it is clear as day and night that it is not impossible but it would be extremely difficult for SHIB to get as high as BTC or surpass it

Don't Miss: 9 Cryptocurrencies Under $2 That Could Be the Next Bitcoin

How Much Could Shiba Inu Coin Be Worth? 

There are several price forecasts made by experts across several websites. Trading Education has researched extensively and found predictions that find answers to questions such as SHIB Price Prediction 2021, SHIB Price Performance 2022, SHIB Price Performance 2025, and SHIB Price Performance 2030 or What Will Shiba Inu Coin Be Worth in 2030

According to analyst Elena R at CoinPedia, SHIB could command the least possible price of $0.00000567 and the best possible price of $0.0000178 by the end of 2021. In the long term, the analyst believes SHIB could test $0.0000861 as an average price by the end of 2026. 

Digital Coin Price predicts Shiba Inu Coin could trade for a coin at $0.0000107 by the end of 2021, $0.00001377 (2023), and $0.00001814 by the end of 2024 in the short term. According to the analysts, SHIB could command prices of $0.00002434 (2026), $0.00002873 (2027), and $0.00003253 on 31st December 2028 in the long term.

According to experts at Wallet Investor, Shiba Inu Coin could reach an average price of $0.000031, a minimum price of $0.000027, and a maximum price of $0.000036 by the end of 2023. SHIB could have an average trading price of $0.000042, a minimum price of $0.000037, and a maximum price of $0.000048 by the year’s end of 2024.

Trading Beasts predicts Shiba Inu could end 2021 with an average price of $0.0000093, minimum price of $0.0000079, and maximum price of $0.0000117. SHIB could have an average price of $0.0000140, a minimum price of $0.0000119, and a maximum price of $0.0000175 by the end of 2023. According to the experts, Shiba Inu Coin could trade for a coin at an average price of $0.0000172, a minimum price of $0.0000146, and a maximum price of $0.0000215 by the close of 2024.

What Will Shiba Inu Coin Be Worth in 2022? 

According to Elena R at CoinPedia, Shiba Inu Coin could have an average trading price of $0.0000228 and the best possible price of $0.00003 by the close of 2022. 

According to experts at Digital Coin Price, Shiba Inu Coin could trade for a coin at $0.00001377 by the close of 2022.

According to experts at Wallet Investor, SHIB could have an average price of $0.000021, the least possible price of $0.000017, and the best possible price of $0.000025 by the end of 2022.

According to experts at Trading Beasts, Shiba Inu Coin could have a trading price of $0.0000094, a minimum price of $0.0000080, and a maximum price of $0.0000117 by the end of 2022.

How much is Shiba Inu Coin Worth in 2025? 

Digital Coin Price estimates SHIB to have a trading price of $0.0000216 by the year’s end of 2025. 

Wallet Investor expects Shiba Inu Coin to trade for a coin at an average price of $0.000053, the least possible price of $0.000045, and the best possible price of $0.000060 by the close of 2025. 

Read More: What Will Shiba Inu Be Worth in 2025?

Can Shiba Inu Coin Reach $1? 

SHIB can reach $1 in the long term. Although there are no price forecasts by analysts backed by fundamental or technical analysis, Shiba Inu Coin continues to be integrated with entertainment companies in South America. Aside from this, SHIB continues to be listed on top exchanges that could add more liquidity to the digital asset. With consistent interest reflected through daily trading volume, Shiba Inu Coin could reach $1 someday. 

Will Shiba Inu Coin Go Down in 2021? 

NO! SHIB is not going down in 2021. China’s crackdown on the use of cryptocurrencies in May and crypto mining centers in June has led to a bearish market. Altcoins have followed BTC and plunged by at least 10% in the last 30 days up to the time of writing. Whatever happens, there would be unavoidable dips in price. 

Some of the reasons why SHIB is not going down in 2021 are because of its usage on more than 24 outlets via GrupoCinco integrating the digital asset as a payment method in Paraguay which would begin in July. Additionally, SHIB could see more exposure after the launch of ShibaSwap where more people would have access to the coin aside from its listing on various centralized exchanges and decentralized exchange Uniswap

With such important milestones coming in the way of SHIB, the cryptocurrency will continue to see gains and bring more returns to traders and investors. 

Who Should Include Shiba Inu Coin In Their Portfolios? 

In the investment world, many people could benefit from having SHIB in their portfolios. The people who can make enormous profits by trading and investing in Shiba Inu Coin include but are not limited to DeFi Enthusiasts, Day Traders, Cryptocurrency Traders, and Growth Investors

Growth Investors

This kind of investor searches for relatively younger crypto projects that show promise in the market. Since SHIB has been a crypto trading asset for 10 months (August 2020 to June 2021), many analysts and experts believe the digital asset is yet to test its real valuation in such a saturated market.

Any investor searching for a growth digital asset for the long term should not think twice about adding SHIB to their portfolio. Shiba Inu Coin could return double, triple, quadruple, or more of its trading price in June by the end of 2021 and beyond. 

Cryptocurrency Traders

SHIB is one of the most popular meme-inspired currencies. The exchange listings it has enjoyed, coupled with large companies integrating it as an option of payment shows the potential of Shiba Inu Coin in a market that currently has 10,587 cryptos

. A cryptocurrency trader can add SHIBA to his or her growing lists of digital assets. By taking advantage of the price movements of the cryptocurrency based on news about Bitcoin and major smart contracts blockchain Ethereum which affects Ether (ETH), cryptocurrency traders could see huge gains in the short and long term.

Day Traders

These are active traders who are focused on making profits off-price changes in a given asset by executing intraday strategies.

For highly sophisticated traders who adopt a range of trading strategies such as high-frequency trading, scalping, news-based trading, and range trading, the volatile nature of the Shiba Inu Coin could bring great returns daily. Having SHIB in such a portfolio could make up for losses suffered in trading other assets (volatile and less volatile). 

DeFi Enthusiasts

Although SHIB’s issuing authority does not have an innovative technology that provides a unique solution to some areas of the space, it runs on the Ethereum Network. Ethereum controls the decentralized finance (DeFi) space. Enthusiasts of DeFi can read Shiba Inu’s whitepaper which is called the “woofpaper” and get to know the possibilities of the protocol.

SHIB would be exposed to other traders and investors through its decentralized exchange aside from being on Uniswap and mainstream exchanges. This makes it great financial instrument users of DeFi can have in their portfolio of investments.

But is 2021 too late to buy Shiba Inu Coin? 

NO! 2021 is NOT too late to buy Shiba Inu Coin. It has been a great 9 months for SHIB where several price milestones were crossed which brought huge percentage gains for traders and investors who had faith in the crypto trading asset from the beginning of the year. 

There are 3 months of trading and investing activity lying in wait before the end of 2021. With SHIB trading at a relatively lower trading price that does nothing to the personal finance of someone living below the poverty line, 2021 is the best year to buy Shiba Inu Coin. At $0.0000288, buying 10,000,000 SHIB will cost you $288. You could decide to buy $100 worth of SHIB which most would consider an amount of money that you could afford to lose in the worse case scenario, the best case scenario you will gain from the potential huge upside SHIB could potentially offer. 

You can forget about the investments for the foreseeable future and see what the price of Shiba Inu Coin will be in the not-too-distant future. To give you a better understanding of why 2021 is not too late to buy SHIB, earlier in the year experts at Gov. Capital estimated the Shiba Inu Coin would command a price of $0.000011 before 31st December 2021. So should you have taken this decision in June by the time this target was hit buying SHIB could have earned you at least 52%. As you can see from the current price of SHIB this target has been more than doubled. 

Read Also: Will Shiba Inu (SHIB) Make Me Rich?

Is Investing in Shiba Inu Coin Risky?

YES! Investing in Shiba Inu Coin and any other cryptocurrency carries huge risks. This is because putting your hard-earned money into digital assets could result in an unpredictable outcome. No analyst or expert could boldly say they know the future of cryptos. Most of the forecasts, predictions and estimates are possibilities and not certainties.

Invest in SHIB an amount of money that would do nothing to harm your savings. Investing in digital assets is risky. As an e-learning organization, our advice for people is to diversify their portfolios. Without risk, you cannot make huge returns. This is clearly understood across crypto circles. But the kind of risk associated with cryptos can see you lose your entire investments within a short period. Do not only buy SHIB.

Spread your investments around several digital assets. More essentially, you can include other less volatile assets across stocks, metals, and commodities to serve as a hedge in case there is a major crackdown on digital assets someday.

Could Shiba Inu Coin Be a Bad Investment? 

YES! Investing in SHIB without proper independent research based on fundamental and technical analysis coupled with an extensive understanding of price and percentage change could be one of the worst decisions you have ever taken. No investment is perfect.

Even investing in stocks that have issuing companies that are visible enough and release quarterly reports has sent thousands of people into irrecoverable losses once the prices of assets went south. 

On Tuesday, 22nd June 2021, comments from a social media feed on Facebook showed many unsophisticated traders and investors purchased Cardano (ADA) at $1.60 and Ether (ETH) at $2,700 in the previous week. The buyer pointed out that he has made huge losses due to ADA plunging to $1.20 and Ether re-testing the $1,800 and $1,900 mark to record new high lows. 

This is the main reason why Trading Education continues to tell people to invest in an asset only when you understand what it represents in the long term. According to Richard Templar from his book, the Rules of Wealth, any investments made should double in 5 years. Unfortunately, the cryptocurrency market has broken the rules as investments increase 2, 5, or even 10 times within a short period. This does not mean you are going to get rich or become a millionaire in the short term. Understand the entirety of the Shiba Inu project; get professional advice if you can, and more importantly invest a maximum of 5% of your savings which you can write off as bad debt.

Does Shiba Inu Have a Future? 

YES! Shiba Inu does have a future. SHIB has only been exposed to millions of traders and investors in less than a year. Aside from this, it’s a relatively newer project that is still accomplishing its milestones (being listed on all the major exchanges, forming great partnerships that will see more liquidity injected into the cryptocurrency, and seeing more institutional investment in the form of some of the largest digital asset management firms opening up Trusts for its tokens).

Such important achievements could befall the project in the months leading up to the end of the year. Another area you should look at is its trading volume which gives statistical evidence of investor interest in an asset. Auroracoin, Peercoin, and Nxt lost their future due to diminishing volumes.

They are not part of the crypto discussion anymore. SHIB has a trading volume of more than $377 million. In a market where more than 10,000 coins compete for liquidity, such a statistic means there is a future for SHIB since most long-term investors continue to have confidence in the asset. 

Check Out: Is Shiba Inu (SHIB) Worth Buying

How safe is Shiba Inu? 

Shiba Inu is largely considered a safe protocol. Shiba Inu is an ERC20 token. By having this tag, it means it runs on the network of Ethereum. When Vitalik Buterin and the 7 other founders of Ethereum designed their innovation, they followed in the path of Bitcoin as a parent blockchain.

As a result, it made use of the same proof-of-work (POW) algorithm that secures a protocol’s network. With this, users would need to gain more than 50% of computational power which is impossible due to the high electricity usage of mining cryptocurrencies. 

Aside from this, as a decentralized protocol, Shiba Inu is non-custodial. This means that users have control over their wallets and private keys. Without these keys, no one can log into the protocol. SHIBs are also traded on safe exchanges (centralized and decentralized). This means you can invest in SHIB without having thoughts about security. 

How Legit is Shiba Inu? 

Shiba Inu is very legit. Shiba Inu is one of the few crypto projects which did not receive any hype during its inception as a Dogecoin Killer. There are always issues around cryptocurrencies being used in scams and shady schemes and this cuts across all digital assets including Bitcoin.

Do not follow social media feeds primarily on Facebook, Reddit, and Twitter by sending money to unknown addresses. To confirm the extent of SHIBs legitimacy, it is listed on the United States exchange Coinbase Pro which is one of the most trusted centralized exchanges globally.

If Shiba Inu Coin wasn’t legit, it wouldn’t have been listed on top authentic and credible exchanges. What’s more, SHIB has not been named by EUROPOL or any other regulatory body for being used in illegal activities online. Not being blacklisted by any centralized body bodes well for the adoption and usage of the cryptocurrency in the short and long term.

Alternatives to Shiba Inu Coin

Despite the potential gains, SHIB could bring you, there are other mainstream cryptocurrencies such as Bitcoin (BTC), Binance Coin (BNB), EOS, Tronix (TRX), Ether (ETH), Cardano (ADA), Litecoin (LTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Dash (DASH), ZCash (ZEC), and Monero (XRM) that could bring huge returns. Additionally, DeFi coins such as Aave (AAVE), Uniswap (UNI), Maker (MKR), Compound (COMP), and Yearn Finance (YFI) can lead to huge gains in the long term as well.  

Conclusion: Is Shiba Inu Coin a Good Investment? 

Investing in Shiba Inu Coin is worth considering. For many, investing in SHIB has already proved to be one of the wisest things they have ever done.

At the beginning of August, September, October, November, December of 2020, and January, February, and March 2021, SHIB was worth nearly $0. At the time, $100 could afford you more than 100 million Shiba Inu Coins. In a space of 3 months, SHIB has made millionaires out of a few people. Others have made thousands of dollars in gains in a short period. 

So if you had invested any amount of money in SHIB before April 2021, you’d have seen more than 10,000% in gains. 

So, is Shiba Inu Coin a good investment? In June where it’s trading at a relatively lower price than most cryptocurrencies, it can be considered as a good investment due to the future it promises. If you are looking forward to investing in SHIB, now could be a great time to embark on such an investment journey. 

While no digital asset investment is risk-free, investing in Shiba Inu Coin has generated huge percentage yields for investors. Whether you are new to Shiba Inu investing or curious about how to make the most of your investment, understanding what to know before investing in Shiba Inu is important to see you record a profit. This will embolden you to know if Shiba Inu is a good investment. 

If you are feeling inspired to embark on a trading journey, eToro provides the ability to trade with crypto assets and CFDs on up to 90+ cryptocurrencies.

eToro – Best Exchange to buy Shiba Inu

 

eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

Is Shiba Inu A Good Investment FAQ

What Is The Total Supply Of Shiba Inu? 
Who Owns Shiba Inu Coin? 
Is Shiba Inu Coin Real?
Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.