Shiba Inu Coin (SHIB) continues to be one of the trending cryptocurrencies online. This is attributed to SHIB being the first-meme-inspired cryptocurrency whose issuing authority (Shiba Inu Protocol) has triggered smart contracts to support the extensive usage of the token.
With so much attention devoted to Shiba Inu which is reflected in its daily trading volume of at least $1 billion, SHIB never fails to shock or amaze investors with its constant price fluctuations.
It increased substantially during the crypto boom of May 2021 when it tested a high of $0.0000388 on the 10th day of that month.
Shiba was one of the digital coins that were hit hardest when Elon Musk announced that Tesla has stopped accepting payments through Bitcoin because of environmental concerns on 12th May (two days after its ATH).
Since altcoins follow BTC in good and bad trading sessions, the Dogecoin Killer opened the day with a price of $0.00003043 and dropped to $0.00001775 to close the day. In the process, SHIB shed 41.6694% within hours.
To add insult to injury, exactly a week after Musk’s announcement on 19th May, representatives of the central bank of China announced a wide crackdown on cryptocurrencies -- an asset they saw as a threat to their legal tender Chinese Yuan.
This saw BTC fall by almost 30% for the day and the digital gold wasn’t alone. Shiba Inu closed at $0.00000922 after opening the day at $0.00001563. The percentage change in Shiba at the close of the day was 41.0109%.
After attempts to recover, the crypto trading asset ended in May with a trading price of $0.00000928. In the space of 21 days, Shiba dropped from being categorized as a large-cap digital asset with $13.8 billion as market capitalization to fighting for spots with medium-cap digital assets because of its fallen valuation to $3.6 billion.
This shows the uncertainty of the cryptocurrency market and more specifically how volatile Shiba Inu is.
While novice traders and investors see this volatility as a sign of risk, well-established investors see it as an opportunity to buy Shiba Inu at a relatively cheaper price that will brighten their portfolio with gains.
In such a situation, how does a novice investor decide when to invest in Shiba Inu and cryptocurrencies in general?
Several cryptocurrency experts and analysts across portals such as CryptoNewsz, Wallet Investor, and Coin Price Forecast have opined that the current volatility in Shiba Inu’s price will only be short-lived. They believe another bull run may come around at a time when there have been extensive developments on the Shiba Inu Protocol that will add weight to the potential of SHIB as a tradable token.
Whatever the situation may be, there is no shortcut to making money physically or digitally.
Since cryptocurrencies hold no intrinsic value, they are tagged as speculative investments. Investors who do well by having speculative assets in their portfolios are patient enough to read market trends and act at the right time.
They believe as Trading Education continues to inform our readers that having time in the cryptocurrency market is far better than trying to time such an unpredictable market.
One way of understanding the future price valuation of Shiba Inu and the passive income it can bring you is to study the price performance of the coin in the last 6 months to 1 year. Shiba was worthless in August 2020 and February 2021 and by October 2021, it reached new highs that brought astonishing returns of over 3,000,000% in just 1 year.
When To Invest In Shiba Inu?
As a newbie or seasoned investor, you should know that investing in Shiba when it has a low price but is expected to soar to new high highs in the future is considered a smart investment move by many experts.
When you compare the valuation of Shiba Inu at the end of May ($0.0000092) and its current price ($0.00002), it is clear that the bears have ended.
SHIB is trading at a price where you can invest amounts of money that would not do much to the savings accounts of someone of low-income status.
There is no perfect time to invest in Shiba Inu. However, if you have a long-term outlook, buying in 2022 when it’s trading below its all-time high, and holding onto it for the foreseeable future could bring you profits.
Did you know that buying $100 worth of SHIB will give you more than 4 million coins? If you have a $100 bill that is lying idle or which could be lost through gambling or boozing, you can buy Shiba Inu and see where it would take you as per your investment goals.
When To Sell Shiba Inu?
There is no right time to sell your SHIB holdings.
There are pioneers of cryptocurrency investing who invested in BTC when it was worth $1. As soon as BTC hit $100, they sold it.
In the peak period of the pandemic, BTC traded for less than $4,000. Some investors purchased 10 BTC for $40,000.
By December 2020, BTC crossed several milestones such as $25,000. Just 2 days into 2021, BTC crossed $30,000 per coin for the first time.
Seeing a chance to make a $26,000 profit on each coin for a total of $260,000, they sold their BTC holdings.
Three months after that, Bitcoin hit a new high of $64,863.10 on 14th April 2021.
This means that should they have been patient, they could have made a $60,000 profit per coin for a total of $600,000. Adding their capital, they could have seen a staggering $640,000 in just 1 year.
So, how does this relate to Shiba Inu? As an e-learning organization, we believe that HODLing is the name of the game when it comes to cryptocurrencies.
Set up a personal all-time high price that you’d like Shiba Inu to reach. Several cryptocurrency exchanges provide a feature called “price alert”.
Once the price of Shiba Inu crosses above your intended price forecast, a notification message will be sent to your verified email address or phone number. You can thrive on this timely information to sell your holdings and make a profit.
Has Shiba Inu made millionaires out of people? Yes, two American brothers invested more than $8,000 in Shiba Inu in the early months of 2021 and walked away with more than $9 million in May.
They had a target they forecasted Shiba to reach. Once the price of SHIB crossed that milestone, they decided to lock in their gains and let go of their holdings.
This strategy worked for two brothers with first names James and Tommy and may work for you too.
eToro – Best Exchange To Buy Shiba Inu
eToro have proven themselves trustworthy within the crypto industry for years – highly recommend them.
Virtual currencies are highly volatile. Your capital is at risk.