Cryptocurrency has become a popular asset in the past few years. It’s a great way to gain massive short-term gains due to its volatile nature, particularly if you learn to predict its prices accurately and quickly. Because it’s decentralized, cryptocurrency also serves as a way to protect a portion of your wealth from any economic disasters. This means that it’s not regulated by any institution besides the investors that own it.
When investing in cryptocurrency, you’ll find various options for crypto that you can buy and sell. You might be interested in SHIB or the Shiba Inu cryptocurrency. Dubbed ‘the Dogecoin Killer’ and classified as an ERC-20 asset, the SHIB token was created as an experimental meme coin under the Ethereum blockchain.
The Shiba Inu ecosystem includes several tokens with different purposes. One is the SHIB, the primary token that features dual utilities. Investors reward themselves with this token for transacting on Ethereum because of improving liquidity. The other token is called leash, a rare token that regulates liquidity, as well as the Ethereum ecosystem and Doge prices. Lastly, bone is the token that allows decentralized Shiba swap services.
To buy and invest in this crypto token, you may look to centralized and decentralized exchange platforms. When planning to sell this digital asset, you can simply sell it on the exchange platform where you first bought it. Check here if you’re seeking to invest and gain a hold of some SHIB.
No matter what you invest in, you’ll want to maximize your ROI and minimize as much risk as possible. Here’s a guide that you’ll find helpful before making your decision to invest in the Shib coin:
Advantages Of Shiba Inu
Affordability
One of the advantages of the Shib coin is affordability. The trading price makes the crypto token accessible. This is why Shiba Inu is especially beneficial for beginners who want to try investing a small amount of money into cryptocurrency. You can buy as much as you can afford.
Shiba Inu is an attractive option to experienced investors as well since it has the potential to grow exponentially. Experts say that investors are likely to enjoy a 100% profit from the coin later on. In fact, a Shiba Inu investment could be worth more in the future compared with other major cryptocurrencies, such as Ethereum and Bitcoin.
Ethereum
Another advantage of Shiba Inu is that it’s under the Ethereum blockchain as an ERC-20 token. It can be used with other technologies under Ethereum. For instance, Shiba Inu supports smart contracts, which can work well with Defi projects on two networks.
Medium Cap Asset
The ERC-20 token is a medium cap asset. It has surpassed the small-cap zone, meaning it has moved up the ranks in terms of global ranks as a currency.
Disadvantages Of Shiba Inu
Lack Of Blockchain
One aspect of the Shiba Inu coin that you may find disadvantageous is that it doesn’t have its blockchain, as it was created under Ethereum. The lack of blockchain may make the crypto token vulnerable to any issues developing in the Ethereum blockchain. Furthermore, it leaves no room for innovation.
No Applications/Other Use Cases
The other downside is that Shiba Inu is mainly a crypto token with no other use cases. Unfortunately, this may negatively impact its value in the long run.
Price Volatility
If you’re searching for a stable investment, then Shiba Inu may not be for you. This is because its price is known to be highly volatile. However, you may find the coin’s volatility beneficial if you seek short-term profit.
Pricing Predictions And Forecast
You might be wondering what experts say about the future of SHIB. Several sources seem to be optimistic about the value of B in the coming years, with some stating that it may grow over the next decade. More specifically, it may reach $0.005 by 2030. If these predictions are accurate, this will mean a high ROI for investors that choose to buy now.
However, all predictions and forecasts for this cryptocurrency must be cautiously considered because Shiba Inu is highly vulnerable to ‘whales.’ A whale refers to an investor who owns many shares of a specific cryptocurrency compared with other shareholders.
A whale’s decision to buy and sell the crypto often impacts the prices significantly. More importantly, they have the opportunity to sell a majority of their shares, which will considerably decrease the value of the cryptocurrency and result in a loss for other investors.
Conclusion
Investing in cryptocurrency can be an effective way to diversify your assets and profit considerably in the short term if you start trading it now. You’ll find different cryptocurrencies on the market, such as Shiba Inu. If you’re interested in investing in this coin, it’s best to conduct thorough research, so you’ll be able to understand both the benefits and risks. You can always use this article as an informative resource before making your decision.
