Shiba Inu is a digital cryptocurrency named after a dog breed from Japan called Shiba Inu. This coin was created by an anonymous individual known as 'Ryoshi' in the cryptocurrency world in August 2020. It was an experiment in decentralized spontaneous community building that later developed into a vibrant ecosystem.
The developer got inspiration from Dogecoin, a coin created as a joke making fun of other digital currencies back in 2013. The logo of both coins looks almost similar as they share an image of the Shiba Inu dog breed and have similar models.
If you are looking to invest in digital currencies, you should consider SHIB and making them part of your portfolio. Every reason to invest in Shiba Inu is to look at the bullish drive that this token is taking. In the last 12 hours or so, the coin has gained an impressive 9.3%. Going with the current news of what is happening in the crypto world, it is likely that this token's price will continue going up, giving an even better reason to Invest in SHIB.
Keep in mind also that Shiba coin has trillions of tokens in circulation, so the aspect of limited supply might come into play. So, should you invest in Shiba Inu? If you are still not sure whether you should invest in the meme token or not, here are some reasons to invest in Shiba Inu.
Top Reasons Why You Should Invest in Shiba Inu Crypto
There are all kinds of reasons why you might want to invest in Shiba SHIP — probably some you’ve never considered. Here are 15 that we found.
1. Support from Known Personalities
Meme coins like Dogecoin and Shiba Inu have been receiving a lot of support from celebrities on social media. These coins do not have any significant technological upgrade compared to other established digital currencies. Still, they are just in existence for their fun, which seems to be exciting users all over. The coins are more or less like a social movement or phenomenon and are creating such a wave. This wave is what is driving their value up a great deal.
Considering that Shiba Inu is pegging its success on Dogecoin, aiming to replace it in the long run, it enjoys a following from impressive personalities. Some celebrities that have been behind Dogecoin and who also might take an interest in its supposed successor are Guy Fieri, Mark Cuban, Elon Musk, and a few more. With such names behind a project, you can be sure that it has a very high chance of doing very well in terms of its value.
2. Impressive Market Capitalization
Market capitalization is a good indicator of how a particular asset is performing in a market. An asset with a large market cap means that the asset is stable since most investors buy and sell it. A coin or a digital currency with a relatively large market cap is unlikely to be affected significantly by sudden shocks in the market. It means that you will not lose as much if the cryptocurrency's price starts dipping suddenly.
Shiba Inu has an impressive market cap of $11 billion at the time of writing this article. This is despite the fact that it has a very low price of just $0.000020. It is currently ranked at the top 15 among the best performing cryptocurrency in terms of this criterion.
This high market cap is a result of its high circulation supply that is in its trillions. If you are a short-term investor, you would also be interested to know that it had a trading volume of more than $759 million in just the last 24 hours.
3. Listed in Major Crypto Exchanges
Just the same way company stocks gain significantly when listed on established stock exchanges like the New York Stock Exchange; cryptocurrencies also ride in the same wave when listed on major crypto exchanges.
WazirX exchange, a subsidiary of Binance, one of the largest and most established crypto exchanges globally, listed Shiba Inu in May last year after Ethereum creator Vitalic Buterin donated about $1 billion worth of tokens to support Covid-19 containment in the country. Following this listing, this coin doubled its price and continues to rise since then. In addition to Binance, you can also find the SHIB tokens on Uniswap, Kukoin, Huobi Global, eToro and other multinational exchanges.
The listing on all these exchanges means that you will not find a serious challenge when you need to sell off your coins. There will be more than a ready market. This aspect makes the token a worthwhile investment both in the long and short term.
4. Powered by Ethereum
Despite Shiba Inu getting its inspiration from Dogecoin, the two coins also have their differences. Dogecoin used the same technology and approach as Bitcoin, while Shiba Inu is modelled to operate on the Ethereum network. The coin is essentially an ERC-20 token. Considering that Ethereum has more real-world use cases, Shiba Inu is more likely to grow with the Ethereum network. Even if it is more of a joke coin, it will have some practical use cases on the Ethereum network.
That is not all. Being on the Ethereum network is good enough, but also, the fact that you can have as many SHIB tokens as possible is also a positive thing to some extent. With unlimited use cases, you can use these coins to drive other social movements with the assistance of a supportive community. Your coins will not lose value with such a massive support system.
5. Provides more Security in Its Non-Custodial Exchange
Before you place your investment in any digital currency, it is important that you understand how to buy its tokens and keep them secure. Most investors invest in cold or hot storage wallets to keep their tokens away from exchanges as they are susceptible to hackers. The best place to store your coins is on cold storage, where they are not connected to the internet, especially if you are in it for the long term.
SHIB token is special in that it has its decentralized exchange. It is a non-custodial platform where the tokens do not come into contact with other coins. It means then that the exchange is not a target for many hackers other than other centralized exchanges that harbour multiple digital currencies. These types of exchanges are, in that case, more secure than the latter. In addition to security, you can trade your SHIB tokens directly from this exchange with other ERC-20 tokens.
6. There is a Lot of Hype
A lot of online projects and developments are growing through sheer hype. Even Ponzi schemes platforms that do not offer a lot in terms of changing people's lives for the better are growing as a result of getting hyped by their supporters. With people now able to communicate freely and easily through the same social media platforms, there are bound to be a lot of not-so-useful things whose value will go over the room through the hype, most of them being cryptocurrencies.
Among the most hyped cryptocurrencies is the SHIB token. It has gained popularity because of its meme theme, and social media users are currently going through a wave of a meme revolution. In the last few years, memes have been a source of information and entertainment, with almost every major occurrence in the world being relayed in memes.
This coin came into the limelight as a meme, making fun of another meme-based digital currency, and has since grown through this hype despite not providing anything of value. This hype is not just about to die out anytime soon. You can ride with the wave and make money before the euphoria dies out. These memes will make you money for sure.
7. Token Price is too Low
Unlike coins like Bitcoin that is currently retailing at just above $36,600, Shiba tokens are at the time of writing this article selling at $0.000020. You can only buy a marginal portion of Bitcoin at $50 but can get just about 2.5 million tokens of SHIB with the same amount.
Instead of placing your precious $50 or $100 in a betting ticket that can go either way and will not give you any significant profit margin, it would be better if you invest in SHIB tokens. There are even better than buying a whole Bitcoin, assuming you had that money and were willing to invest all of it in cryptocurrencies.
If the price of this token continues with its bullish drive and comes anywhere near a dollar, you will be an instant millionaire. If the worst comes to the worst and the coin loses out, you can still cash out and lose a few dollars and still walk with your head held high. You cannot say the same about Bitcoin and other expensive coins. If you invest the $59,900 and the price falls by just five percent, you will lose about $2,995, which is a considerable amount of money. So do the math and be smart about it, keeping in mind that all cryptocurrencies are extremely volatile.
8. Minimal to no Fees Required Buying SHIB
Buying SHIB tokens on the Ethereum network was very expensive. It made no financial sense to buy a few dollars worth of SHIB while paying a hefty fee on the Ethereum network. Now, this has changed for the better. Other exchanges have listed SHIB, so you do not have to buy it on the Ethereum platform only.
Fees paid to various brokers can significantly limit individuals from investing in digital currencies. The hefty fees eat into the profits as commissions, discouraging would-be investors since they incur all the risks. With so many digital coin exchanges coming up, there has been increased competition among the exchanges, lowering the transaction fees significantly.
At the moment, you can buy SHIB tokens from exchanges such as Uniswap, Kukoin, Huobi Global, and Crypto.com, among others, at a very small fee, hence keeping much of your earnings.
9. You Have Precedence
As mentioned before, the SHIB coin derived its inspiration from Dogecoin which was developed in 2013. It was kind of funnily mimicking Dogecoin. Just the same way it came as a joke to Dogecoin, it is the same way it is likely to follow it up in terms of growth and use. The same community that was pushing and supporting Dogecoin is also doing the same for Shiba Inu.
Taking it into context, the Dogecoin was worth way below a cent just last year but is now just above the 13 cents mark. A $100 investment last year would now be about $2,300.
That is an insane profit in just one year. Shiba Inu could be on the same trend that Doge followed if it continues with the same trajectory. You can add just a $10 or $20 investment to your portfolio. It is up to you, though, to make that decision.
10. High Liquidity Ratio
High liquidity in the financial markets means how quickly an asset can be converted to cash. For instance, if you own stocks from various companies, there are those that you will find buyers for immediately you place them on sale, and there are those that would take you weeks and even months before you find anyone willing to buy them.
In the cryptocurrency market, liquidity is the ease with which you can change your coins into cash or other coins of your choosing. It is always advisable to invest in highly liquid crypto so that you can cash out quickly when you need to do so.
Shiba Inu's trading volume in the last 24 hours was just shy of $760 million. This figure shows that a lot of investors are buying and selling the token. You can, therefore, add it to your portfolio, knowing that you could as well sell it quickly when the time comes to do so.
11. Chinese Traders Buying in Bulk
SHIB coin is gaining popularity in nearly all the continents in the world. Chinese traders are following the bandwagon in masses, knowing very well that the token has no practical value per se. Still, the Chinese have been buying these tokens in bulk based on their popularity and their considerably low price.
Anyone can stock hundreds of thousands of these coins with just a few dollars worth of investment. This activity has spurred the demand for the SHIB token hence its bullish trend. If this trend is to continue, you should consider getting a few coins for yourself and keeping them for a while. You may end up making a handsome profit if the hype continues.
The popularity in China is partly to do with billionaires' influence. Last year, Charles Xue Biqun, a Chinese Billionaire and a venture capitalist in the country's internet industry, mentioned this coin several times on his Weibo account that has more than 11 million followers. It is these followers that are keeping this token alive and makes it a good one for investment.
12. Skilled and Experienced Developers behind the Project
Even though there is no technological improvement or practical use other than that of promoting memes that SHIB coin brings into the market, it has a team of experienced and skilled developers managing the project.
Though anonymous, these developers are working hard to provide top features that will see the token make more grand moves in this market. Since the project is still relatively new, there is still a lot that they could add to the coin and maybe make it a serious one as time goes by.
This could be a good trial opportunity to grow with a new project with a calculated investment as an investor. You never know what this project could turn out to be in the next few years.
13. Lower-Risk Investment Compare to Other Coins
When Bitcoin was starting, very few people had any idea of what digital currencies were at that time. Bitcoin tokens were trading at just a few cents per token. Those who made a move to try out the new venture then bought just a few of these tokens are now millionaires, especially those who were patient enough to hold on to the coins. At that time, it was a very low-risk investment.
It is the same case with SHIB, the meme token. It started as a joke mimicking Dogecoin, but it is now tracing its path. Soon, it might just fulfil its nickname of being the "Dogecoin killer" and end up being just a promising cryptocurrency as Bitcoin once was. Since its price is significantly low, it makes investing in it a very low-risk investment option and one you can consider.
Investing just $20 to $50 would not make you poor even if you lose it, but it could end up being a worthwhile investment if it turns out to be a valuable token. But never invest more than you can afford to lose
14. Massive Community behind the Coin
Like Dogecoin, Shibu Inu has a massive community rallying behind it on the internet. Recently, there has been a lot of talk about this coin on various platforms, including Twitter and Reddit.
It is this massive community support that this coin has been backing on, and so far, it is working out fine. With the social media revolution, having something that is essentially worthless is very valuable by just making it trend and creating an artificial demand.
That is exactly what is happening with Shibu Inu. Its supporters seem to be having fun with the meme coin, making it a trend on most social media platforms. If the community, which is growing tremendously worldwide, as is evident with the numerous YouTube videos on the coin, it is likely to continue growing. This support makes it a worthwhile investment.
Following in Dogecoin's footsteps is also a reason why you should invest in this coin. This coin is relying on the Dogecoin path as it is built using the same model. It has managed to get Dogecoin's supporters to take an interest. Dogecoin has already shown its ability to grow, yet it also does not add any meaningful technological advancement to the crypto industry. This growth is spiraling to Shibu Inu that has branded itself as its predecessor's killer, but just to draw attention to it. As an investor, all you need to see is growth, which this coin has shown as a result of riding behind Dogecoin.
15. Easy to Invest
A while ago, it was a challenge investing in any cryptocurrency as people did not know how to go about the entire process. These days, you simply open an account with an established exchange platform and start buying coins from there. All you need is to provide your details and attach a payment method, and you are good to go.
Shiba Inu also has a dedicated or non-custodial exchange platform where you can easily buy and sell your SHIB tokens without mixing them up with others.
Even with all the hype about this meme coin, keep in mind that trading cryptocurrencies are a highly risky venture. All cryptocurrencies are volatile and carry a particular level of risks. Their price is dependent on their supporters and users since they are not tied to any tangible assets. If the users decide that a particular currency no longer has value, then it will cease having value immediately.
You must carry out thorough research before investing in any cryptocurrency. Even after doing your research, you should only invest that which you are ready to lose. For instance, with the Shibu Inu coin, you put aside some money you would otherwise spend on some drinks and buy a few tokens, then just forget about them. They might just turn out to be a worthwhile investment.
So, why should you invest in Shiba Inu today? The reasons are lined up for you. It remains within your best judgment to decide where to put your money.
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