Talking subjectively, Shiba Inu is reckoned as one of the “Shitcoins” albeit, some of you may wonder that the currency has attracted today millions of crypto investors from all over the world. In fact, there are as many as 9 or 10 million worldwide holders of this memecoin.
To be precise about Shitcoins, these are reckoned as cryptocurrencies with negligible or no value at all. These crypto or digital currencies typically do not have any instantaneous perceptible purport. Shiba Inu was designed to stand in direct competition with another meme coin, i.e. Dogecoin and, as a matter of fact, the former has become today one of the tokens enjoying real success.
Being looked on as Shitcoin, some crypto savvies are avid for learning whether this “Dogecoin Killer” is of any worth.
Well, in this blog post, we are going to talk about Shiba Inu coin, its values, its history, its long-term investment, and its future. So without beating around the bush, let us get started.
What Is Shiba Inu(SHIB)?
Shiba Inu is a latest meme coin based on the features and functionalities of Ethereum (ETH) blockchain. It has succeeded to dogecoin (in terms of popularity and demand), which is another popular meme token sought after by key international celebrities such as Elon Musk and Mark Cuban. As a result of its success over Dogcoin, Shibu Inu is also dubbed as a ‘Dogcoin killer’ and, similar to Dogcoin, the coin showcases a Shiba Inu dog as its mascot.
Shiba Inu founder is an anonymous person named Ryoshi, who brought out this currency in August 2020. The Shiba Inu community includes over 120 thousand individuals in it and they address them as the Shiba Inu army dedicatedly. Suffice to say, the whole community of this popular meme coin has a great affinity for Shiba Inu dogs.
History of Shiba Inu
Launched in August 2020. SHIBA INU is a one of the popular meme coins that can be seen trending in the crypto currency market remarkably. A striking feature of this crypto coin is that it has superseded the Doge meme coin because of its better effectiveness. A strange person (whose identity is yet unclear) named Ryoshi is attributed to create this amazing digital currency.
Considering its name, it seems to have been taken from a popular Japanese dog breed named Shiba Inu. The currency has earned phenomenal growth over the past year 2021. From its initial price of 0.000000001, the Shib token has marked a record high of $0.000050 on May 10, 2021.
Is SHIB a Good Long-term Investment?
Most probably, yes. After all, this innovative meme coin is in great trend and marking a record of unparalleled success. However, according to some crypto news & experts, SHIB is a tentative tool having nothing special in it.
Even then, Shiba Inu, notwithstanding a spick and span crypto currency in the world of crypto currency, has left the popular dog-themed Dogecoin behind to a great degree in recent times. Those who have invested are hopeful of getting better ROI. It may take some time for other investors to become fully aware of its underlying striking features that are maybe very promising and tremendously cost-effective.
Incidentally, when it comes to investing money in any cryptocurrency, in any case, it should never be a hurried process since these currencies have volatile nature, which means their value unexpectedly goes up and down anytime. So the best thing you can do is conduct your research extensively on the asset and invest only when you are ready to take some risk.
Future of Shiba Inu
Considering the future of Shiba Inu, it seems hopeful currently but to predict anything about it the existing year or the years to come is not easy. As per the guesstimate of many crypto savvies, the value of SHIB Inu will appreciate (it will be $0.000061 by 2022) more by the end of this year while others predict that it will depreciate even more and maintain the same for a long time. There are some other Shiba Inu evaluators who predict that the coin’s value might reach $0.000071. In any case, the exact future of Shiba Inu currency will come into view in the nick of time. Here you can read more about long-term future price of Shiba Inu.
It does not matter what your personal standpoints about the up-and-coming meme currencies such as SHIB are, the evolution of second canine-themed crypto currency has given rise to wonder and fear from all its targeted audience and everyone with a good understanding of crypto. While meme coins grow by leaps and market in the market, very few can go with the growth of the SHIB in the months of late. How this coin will perform in the time to come- whether it will maintain its current value, go up or go down is another question that many hope of getting answers.