Is Shiba Inu a Good Investment: SHIB to $0.01, or Just Another Meme Coin?
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Is Shiba Inu a good investment for crypto speculators? This question has been asked countless times despite the meme coin Shiba Inu (SHIB) being available for trading for less than two years. Yet within months of its launch, it was hard to ignore. SHIB saw impressive growth last year, with the price reaching an all-time high (ATH) of $0.000086 in October 2021 — which is over 150,000 times its starting price of $0.000000000056.
The past few months have been a tough one for cryptocurrencies, but SHIB has managed to bounce back, rising 50% in the first week of February 2022, after slumping over 60% from its all-time-high in October.
The main question now is: Will this popularity continue? Is this just another cryptocurrency bubble that will eventually burst, or is Shiba Inu a good investment that will continue to grow in value? In this article, we’ll take a closer look at the SHIB token, its future road map, factors affecting its price — and whether it’s worth investing in.
What Is the Shiba Inu Token?
Before asking is Shiba Inu a good investment, let’s first run through the origins of the memecoin. Shiba Inu (SHIB) is a decentralized ERC20 token launched on the Ethereum network as a spin-off of the popular meme coin, Dogecoin. Meme coins such as Dogecoin and Shiba Inu derive their value based on association with a meme— in both of these cases, the Japanese Shiba Inu dog breed — rather than utility. The token wasn’t originally designed to solve real-world problems.