Is Shiba-INU a better investment?
Craze for crypto
With digitalization, the world has been moving towards the latest technologies like blockchain that disrupt the flow of the conventional market. Cryptocurrency is the best product of blockchain technology, so far. Though the cryptocurrency market is volatile, the craze for crypto has never gone down. Crypto players either big or small, put their funds in thousands of crypto assets entering the market. Meme coins are never an exception. Recently, Dogecoin was the speak of the cryptocurrency space, being endorsed by Elon Musk. Many revealed themselves as millionaires made by Dogecoin.
Shiba Inu is yet another meme-based cryptocurrency that has gained attraction from investors. Though it is not backed by an influencer like Elon Musk, people are fascinatingly putting in funds. SHIB is a decentralized spontaneous community-building experiment. There is no threshold for holding, people can hold billions or even trillions of SHIB tokens. It is nicknamed the DOGECOIN KILLER, as the main aim of the SHIB coin is to outpace the Dogecoin in the near future, and the community believes the day is not far away. SHIB is a standard ERC-20 token and is the first token to be listed on Shibaswap, the platform’s own decentralized exchange.
As of May 2021, the market capitalization of Shiba Inu is $7 billion, and the total circulation of Shiba Inu is around 400 trillion. Shiba Inu coin has experienced a 40% drop in price when Vitalik Buterin donated 50 trillion tokens to the Indian Covid Relief Funds, which is almost 1/8 th of the total Shiba Inu in circulation.
Should you consider Shiba Inu as a potential token?
Shiba Inu is another cryptocurrency like Bitcoin, but with no serious business. The coin is just an alternative for Dogecoin, which itself is a meme-based coin, which actually was a joke turned into a money-making thing. The Shiba Inu of course has a very low transaction cost and fast transaction rate.
The ultimate aim of any meme-based cryptocurrency is to have fun and not to be a serious investment token. The main difference between Shiba Inu and other major cryptocurrencies like Bitcoin, ethereum, and Bitcoin cash is the number of tokens in circulation. The number of Bitcoin in circulation will never exceed 21 million. This creates scarcity and the demand goes up, with the price floor hitting the roof. Shibu Inu, on the other hand, is built to exist in excess quantities. More and more Shiba Inu tokens will be produced every year. This keeps the price of Shiba Inu tokens much low when compared to others.
Pros of investing in Shiba Inu
Shiba Inu has a very fair launch, and the token distribution is very genuine. There is no pre-allocation of tokens. 50% of the tokens are locked in Uniswap and the key is thrown away, and the remaining 50% is burned to Vitalik Buterin. Shiba Inu is the first token to follow this path, to ensure the availability of tokens to everyone in the open market. The distribution is fair and complete.
There is no room for the dumping of Shiba Inu tokens, as the team members are not allocated with any number of tokens.
Cons of investing in Shiba Inu
The value of Shiba Inu will not rise to the peak like Dogecoin until it is endorsed by a big crypto player like Elon Musk. The price of Siba Inu will remain low for a period of time, maybe exhibiting a gradual growth according to the market trends. In case if it exhibits monumental growth in the future like Dogecoin, the investors might be ready to face the downfall as well.
In simple terms, Shuba Inu is a meme coin that was built with an intention of mocking real cryptocurrencies like Bitcoin. Hence it is extremely volatile and susceptible to random market movements.
Shiba Inu investments — The closing thoughts
It is totally fine to invest in Shiba Inu, but it is advisable that the investors need not hold it for the long term. It might be seen as a temporary crypto asset that fetches you some returns based on the market trends. It is completely your choice to bet and part of it for fun to get the gambler rush.