Shiba Inu – the new dogecoin?

I have to say I am not a big fan of cryptocurrencies, I mean if you think the stock market is turbulent the crypto market is 10x more turbulent than stocks. With that said the potential for gains is pretty remarkable.

One such opportunity is the Shiba Inu coin, it was created as a meme coin, just like dogecoin, and its popularity is kind of exploding right now. It’s still early enough that the coin is worth barely a fraction of a cent, however if it keeps the upward trend it’s been having, soon enough it could reach the same price as dogecoin or about a quarter of a dollar per coin.

However a few things do need to happen for Shiba Inu to reach that point. One, the developers of the coin would have to burn a sizeable amount of coins from the circulating supply. Two, some organization has to be brave enough to take Shiba Inu as payment.

If those two things happen the price of Shiba Inu can only go up. Add to that the speculation that Robinhood might add the coin to their platform.

I only put $10 into this coin mostly as a joke, I honestly expected it to tank, however in a matter of days that $10 turned into $30, then I decided to trade all the other coins I got for free from Coinbase for Shiba Inu coins and now I have $55. It’s not much but I’m waiting for the price to dip again so I can buy a much larger amount, stay tuned for that.

One thought on “Shiba Inu – the new dogecoin?

  1. Pingback: The future of $SHIB | Investing Tree

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