There are many reasons you should invest in Shiba Inu (SHIB) when considering a digital currency to add to your portfolio. Its recent bullish drive is one of such reasons, and it is predicted that this token's price will continue to rise.
Top 5 Reasons You Should Invest In Shiba Inu
Shiba Inu is a digital cryptocurrency created in August 2020. It is named after a dog breed from Japan known as Shiba Inu. The developers of this token were inspired by the success of Dogecoin, one of the other meme tokens. Shiba Inu is believed to have great prospects, and you should consider investing in it for the following reasons:
1. Listed in major crypto exchanges
A cryptocurrency gains significantly when listed on a major crypto exchange. This is similar to the NYSE where the stocks of a company rise when it is listed on an established stock exchange. In addition to WazirX, the SHIB token can also be found in other multinational exchanges like Binance, Uniswap, Kucoin, and Huobi Global.
Shiba Inu being listed on all of these exchanges implies that you will not face a serious challenge when you need to sell. These exchanges make sure that there is a market for you to transact. It is also a good reason for you to invest in Shiba Inu.
2. Impressive market capitalization
The performance of a particular asset in the market is indicated by its market capitalization. An asset is stable if it has a large market cap. Sudden shocks in the market are unlikely to significantly affect a digital currency with a relatively large market cap. When the price of such cryptocurrency starts to dip, you will not lose much.
The market capitalization of Shiba Inu is quite impressive. Despite its low price at the time of writing, Shiba Inu is ranked among the best top 30 digital currencies in terms of its market capitalization.
3. Powered by Ethereum
Unlike Dogecoin that uses the same technology as Bitcoin, Shiba Inu operates on the Ethereum network. It is based on ERC-20. Shiba Inu is likely to grow with the network because Ethereum has more real-world case uses.
Another positive thing to some extent is that you can buy as many SHIB tokens as possible. With the assistance of supportive communities, you can use it to drive other social movements. This massive support system ensures that your tokens will not lose value.
4. Experienced and skilled developers behind the project
Shiba Inu does not bring any practical use or technological improvement into the market. However, a team of skilled and experienced developers are managing the project. Although anonymous, its developers are trying hard to provide top features that will give the token more ground in the market.
Moreover, there is a lot more that can be added to the project since it is still new.
Shiba Inu has its own DEX, NFT called Shiboshi and is coming with its own blockchain , Shibarium from 2022.
All these will help increase the burning process of Shiba and ultimately increase the price and market capitalization.
5. Low price of the token
The price of the SHIB token is relatively low at the moment. You can become a millionaire if it continues its bullish drive. Moreover, you won’t have much to lose when you invest in it now. This is because of its relatively low price. The same cannot be said about other expensive tokens.
Have in mind that the cryptocurrency market is a highly volatile one. You do not have much to lose even when the price of the SHIB token falls later on. You will have much profit when you invest in Shiba Inu now if its prices continue to rise.
Just like other digital currencies, Shiba Inu is volatile, and investing in it carries some level of risk. However, the recent bullish drive of the SHIBA token suggests that it can be a good investment when you add it to your portfolio. Ensure that you research and only invest in what you are ready to lose.