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Although Shiba Inu’s price is extremely volatile, investors still seem to be interested in it
At the time when major cryptocurrencies like Bitcoin and Ethereum are struggling to make ends meet, Shiba Inu is gaining prominence despite the bearish trend. It has a large group of honest followers who believe that SHIB will gain prominence again in 2022. In the last week of October, the prices went up by almost 166% and rose over 950% within the entire month of October. SHIB is not only one of the most affordable cryptocurrencies in the market but its low price value also caused the crypto to surge exponentially. SHIB overtook Dogecoin momentarily to become the largest meme coin in the market, but this success was quite short-lived. Just like the recent crash in the crypto market, meme-based cryptocurrencies like DOGE, SHIB, and others also sank drastically. But the crypto market is slowly but gradually recovering from its fall. In the past few months, Shiba Inu has shown tremendous growth; even after its fall, the crypto is recovering quite rapidly. So, now, it is time for the investors to decide if they would want to hold, buy, or sell Shiba Inu in its present stage of volatility.
Shiba Inu was created by an anonymous person called ‘Ryoshi’. The name of this cryptocurrency is derived from a dog breed of Japan known as Shiba Inu. After the success of Dogecoin, Shiba Inu was created as its competitor. It was an experiment done under the decentralized community that was later on built to develop a vibrant ecosystem. The primary aim of this crypto was to become the biggest competitor of Dogecoin, and it has rightly proved itself to be one of the biggest rivals of DOGE. Besides this, the market capitalization of SHIB is also quite impressive. It is one of the highest stake cryptocurrencies in the market that can help businesses move forward right now.
Shiba Inu is Currently Surging
Experts reveal that there are many reasons why Shiba Inu might be rising presently. At any given time, there are several reasons why any stock or crypto rises, and this instance is also quite similar for Shiba Inu. One potential reason that market analysts believe might be the reason why SHIB is rising is the emergence of Shibarium, its latest blockchain project. This project basically aims to reduce transaction fees, which could make Shiba Inu more affordable for users. While Shibarium is not yet live for investors to use, its development and the hope behind its creation could be an encouraging reason for investors to dive into SHIB again.
Another potential catalyst that is raising Shiba Inu’s chances for re-establishing its position in the crypto market is its plans to enter the metaverse, with developers promising to start selling virtual plots of land. Currently, the metaverse is one of the trendiest topics that has got tech enthusiasts quite excited. Shiba Inu’s announcement that it aims to be a part of the metaverse might have also surged its market value.
Many experts believe that 2022 might be the year of Shiba Inu. Even in 2021, the SHIB token has literally been there and done everything. Starting from being the most loved meme token among the top 1000 ETH whales to being the most discussed topic on Twitter. It is quite evident that 2022 is about to bring major good fortunes for investors as they jump on the Shiba Inu wagon.
Is Investing in SHIB Now Safe?
Be it Shiba Inu or any other crypto for that matter, investors should always be careful of investing in crypto that is at its most volatile stage. It might seem quite tempting at first to invest in a crypto that is trending hot in the market so that you can become an overnight crypto millionaire, but these investments might prove to be quite risky. Cryptocurrency in general is quite a high-risk investment. You can never be sure whether you will gain profits or suffer losses while investing in cryptos. Experts say that meme coins in particular are way more volatile and risky as compared to other cryptos. Its rise to fame has been extremely fast so it is quite unpredictable as to how fast it might fall in the future. But at the end of the day, investors should always risk the money that they are ready to lose and if you are looking for a more stable investment, maybe investing in meme coins might not be your best course of choice.