In the world of meme-inspired cryptocurrencies and Shib Coin investing, you may have asked questions such as, is Shiba Inu a good investment, or is Shib a good investment? The answer to this question is a big yes. Shiba Inu is likely a good investment and could bring you enormous returns in the future.
What Is Shiba Inu?
Shiba Inu is a meme-inspired token created on Ethereum by an anonymous individual known as Ryoshi. SHIBA is nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin in a small amount of time.
The so-called “meme coin” launched in August of 2020. It’s a play on the dogecoin (DOGE) meme, which is in itself a parody of the cryptocurrency space. Shiba Inu coins are gaining popularity as investors look for the next bitcoin (BTC) to invest in.
There are currently 394.79 trillion tokens in circulation from a total supply of 1 quadrillion. As an ERC20 token, SHIB is building a decentralized exchange (DEX) called ShibaSwap. Competing with PancakeSwap on Binance Smart Chain, and JustSwap on the Tron Network. As well as Uniswap and SushiSwap on Ethereum.
Shiba Inu Price Boost
The anonymous developers of Shiba Inu announced on August 7 they had initiated a coin burn to reduce the amount of SHIB supplies in response to a request from the community. Digital coin burns destroy coins to take them out of circulation, which will slow down the rate of inflation. SHIB developers added two new trading pools to the ShibaSwap decentralized coin exchange. Perlin and Ryoshi, and burned $25,000 in both SHIB and LEASH coins.
The developers have formed an ecosystem around the SHIB coin, creating other tokens such as LEASH and BONE. ShibaSwap, which runs on the Ethereum blockchain, launched on July 6. Burning coins to reduce the amount in circulation creates the potential for the price to rise.
The Shiba token price rallied in response to the coin burn, climbing from a low of $0.00000629 on August 7 to a high of $0.00000881 on August 8th. A substantial gain of 40%. This was its highest level since the 8th of July, having hovered around the $0.000006 level in the past month. The SHIB price has since trickled lower but has held above the $0.000007 level.
Is Shiba Inu A Good Investment?
With the SHIB coin trading at $0.000008 on August 12, there was support at $0.000008 down to $0.000007 and resistance at $0.000008 up to $0.000009. The Shiba Inu price prediction from Wallet Investor projects that the coin will trade between $0.000007 and $0.000009 in August, then rise from $0.000008 at the start of September to $0.000011 by the end of the year.
They predict the price will double to $0.000022 by the end of 2022 and surpass the previous all-time high, to end 2023 at $0.000034. By the end of 2025, the algorithm predicts Shiba Inu will be trading at $0.000056. The Shiba token price prediction for 2025-2030 from Coin Price Forecast estimates it will trade at $0.00005778 by the end of 2025, climbing to $0.00007507 by the end of 2030. About a 620% gain from the current price.
Many cryptocurrency experts believe that Shiba Inu Coin is a good investment compared to other mainstream cryptocurrencies, and other DeFi tokens. Despite all the ups and downs in the history of the SHIB, analysts believe that Shiba Inu Coin’s price could grow further in the long term. One of the factors that will influence investing in SHIB in 2021 is that it’s being listed as an option of payment by GrupoCinco.
But how does this affect the price of the Shib coin?
As a result of this, the cryptocurrency would be exposed to the 50,000 customers per month who patronize the various outlets of the company. Besides this, GrupoCinco owns G5Pro. G5Pro is a live entertainment business unit that is able to sell an impressive 450,000 tickets annually.
With time, G5Pro being a subsidiary of GrupoCinco would start accepting SHIB as a form of payment. This opens up the cryptocurrency to a new market in another section of the entertainment industry.
Payments will be processed through the Lightning Network to help the Cryptocurrency to scale relatively faster since it relies on the same proof-of-work (POW) algorithm Ethereum employs in processing transactions. Statistics show that more than 80% of the company’s customers are aged between 18 and 25.
Also, more than 60% of the Paraguayan population is under the age of 30. This partnership is going to encourage Paraguayans and the whole South American region to use cryptocurrency in their daily activities. So is Shib a good investment at this particular time? I think it’s worth taking the risk. There are a lot more pros than cons that factor into the equation.
The Popularity of The Shib Coin
Yet, another factor which should make you consider investing in SHIB is its popularity. Like other meme-inspired currencies such as Dogecoin, Shiba Inu has a great following across many social media platforms. Quora, Twitter, Reddit, and Facebook, just to name a few.
After the gold mine of Dogecoin in the first half of 2021, Elon Musk tweeted about Shiba and this saw the cryptocurrency make huge gains in May before the lows followed in the last week of the month. This motivated millions of people to consider SHIB as an alternative digital asset to have in their portfolio of investments.
Coin Quora thinks traders and investors should be considering investing in Shiba Inu coin. According to analyst Jay Manila, SHIB could command the best possible price of $0.000049 up to $0.0001 between 2021 to 2023. This means that investing in SHIB could see you with a return of at least 1,329.39%!
How Much Shiba Can I buy?
It has been a dynamic 6 months for SHIB where several price milestones were crossed which brought huge percentage gains for traders and investors who had faith in the crypto trading asset from the beginning of the year.
With SHIB trading at a relatively lower trading price, 2021 is the best year to buy the Shiba Inu Coin. At $0.000006996, buying 10,000,000 SHIB will only cost you $69.96. Buying $100 worth of SHIB can bring you hefty returns and at the same time is an amount you can afford to lose.
How To Buy Shiba Inu Coins In 2021
You have many options to buy SHIB in 2021. Your options are not limited to smaller, obscure exchanges. SHIB is benefitting from the fact that it’s on some of the most popular crypto trading floors in the world. Here is a list of places to buy Shiba Inu Coins.
Whether Shiba Inu is a good investment for you depends on your own personal circumstances. Cryptocurrencies generally are highly volatile assets, making them riskier than other forms of investment. Although Shiba Inu looks to be a good investment. As with any investment, you should never invest money that you cannot afford to lose. Always do your own in-depth research on any investment opportunity you are considering to be able to make an informed decision.