With cryptocurrencies growing in popularity, many investors worldwide ponder: should I buy Shiba Inu coin? As one of the world’s largest meme coins, Shiba Inu has been at the forefront of innovation within the space, but can it still be considered a wise investment?
In this guide, we examine the risks and potential of Shiba Inu in the years ahead before highlighting what some expert traders have to say about the coin’s future and where investors can buy SHIB today.
Should You Buy Shiba Inu Coin?
Although Shiba Inu’s value rocketed exponentially in 2021, the token now trades over 91% below its all-time high, leaving many investors wondering – should I buy Shiba Inu coin?
Like other cryptos, investing in SHIB involves substantial risk. As a hype-driven coin with limited utility, SHIB is highly speculative. It’s difficult to tell whether the price will soar or crash dramatically, which is why many traders opt to steer clear of it (and meme coins in general).
While some analysts believe that Shiba Inu has already peaked, others believe the token still has room to grow. SHIB remains popular with the broader crypto community – and with its price set at just a fraction of a cent, it doesn’t take much for Shiba Inu to spike.
Ultimately, deciding should you invest in Shiba Inu coin comes down to the investor’s individual risk tolerance, investment goals, and belief in SHIB’s long-term potential. As with any crypto, Shiba Inu investing carries significant risks – along with its compelling returns potential.
How Shiba Inu Coin Has Performed Since Launch & This Year
Shiba Inu began its journey as a playful alternative to the much-celebrated Dogecoin, the first meme coin to kick off the retail investment craze. Launched in August 2020, SHIB was initially viewed as a joke – yet its performance told a different story.
From being virtually worthless when it was first launched, SHIB witnessed a jaw-dropping surge in 2021 that put the token on the map. In the second week of April 2021, SHIB’s value soared 1,609%, marking the first time that the token had produced a quadruple-digit return in seven days.
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