Is worth to buy token SHIBA INU? 5 reasons


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Is worth to buy token SHIBA INU?


Shiba Inu is a token, not a coin.

The Shiba Inu is a relatively new coin created in August 2020. It is an altcoin based on Ethereum whose mascot is a Japanese hunting dog called the Shiba Inu.
The cryptocurrency industry considers this coin an alternative to Dogecoin, but it is fundamentally different in structure and purpose. The Shiba Inu is one of the largest coins in terms of market capitalization, with a value of over $ 18 billion. It is currently ranked 15th on Coinmarketcap.

Shiba Inu has shown a huge leap over the past few months. This year, the cryptocurrency has increased by more than 47 million percent, enabling the lucky few to make huge profits. However, its price, like any other cryptocurrency, has fluctuated for various reasons. If you are looking to invest in this coin, here are some reasons you should consider.

All cryptocurrencies are volatile. This means that their prices may fluctuate in each direction at any time. For this reason, you need to be careful. Never invest money that you could not afford to lose. Diversifying your investment into different coins rather than putting everything into one project is the best solution.

5 Reasons to buy Shiba Inu today

1. Listed on many stock exchanges

There is a strong correlation between the value of a digital coin and access to it. If a coin is readily available, its value tends to increase. More investors can buy it and speculate, resulting in increased demand. Shiba Inu has been listed on many exchanges, but has recently appeared on several others, including OKEx and Binance. The cryptocurrency rate increased significantly when it was introduced to the two exchanges in May 2021. In October, Shiba Inu was listed on Coinbase Global, the largest currency exchange platform in the United States. Following this listing, the coin grew 40% in just two days, and then surged 20% in November when it was floated on the Kraken exchange. In 2022, this coin could be listed on other exchanges such as Robinhood, which will likely increase its value. If you get a few tokens now, you can probably make some money in 2022.​

2. Increasing use of Shiba Inu

The Shiba Inu has been mocked as a meme coin, much like its Dogecoin predecessor. The value of this coin largely depends on its popularity, but as more and more people take an interest in it, its usefulness appears to increase as well. Several serious companies have already shown interest in having this token as a payment option. These include AMC Entertainment Holdings, the largest cinema chain in the world that also owns memes, and Newegg Commerce, an e-commerce store selling computers and electronics. These companies plan to start accepting Shib tokens as payment for their products. Another potential company expecting to accept these tokens as payment is BitPay. It may be just a few companies, but the Shiba Inu community is pushing this coin to gain more acceptance. If more companies and outlets adopt this cryptocurrency as a means of payment, its value will increase significantly over the next few months.

3. The nominal price is still low

Shiba Inu, like most other altcoins (these are non-Bitcoin digital coins) still have a low face value. Compared to Bitcoin, which is currently trading at around $ 51,000, Shiba Inu's price is definitely on the low side. At the time of writing this article, this coin was traded at $ 0.00003839. Unless you have enormous capital, you can only invest in a fraction of Bitcoin. However, you can buy over 1,000 Shiba Inu tokens for around $ 100, which will give you around 2.6 million tokens. If the coin rises to one dollar, you'll have $ 2.6 million at your disposal. Such an increase is possible given the factors surrounding this coin and the progression it has shown over the past few months.

4. Growing demand of Shiba Inu

The Shiba Inu started out as a meme coin. Most people consider it a joke. However, this perception has led to more people joining the Shiba Inu community to share the joke, and as a result of the FOMO phenomenon. As more people join the community, they buy more coins and increase the demand. Given that the total supply of this coin is limited, the increasing demand has made the value of this coin fluctuate depending on how investors buy and sell. We are seeing more increases than decreases and we are seeing the same progression of growth. Investing in this coin now is not a guarantee of making a profit, but there is a high probability that it will be in 2022. You may have several thousand tokens in your wallet as the token price is still very low.

5. Shiba Inu is owned by whales

Very few investors own a significant portion of Shiba Inu. The largest owners are known as whales. Research in the cryptocurrency world shows that approximately 70% of SHIB tokens are in the care of fewer than ten investors. These investors believe in this coin and want its price to rise. Most of them add more coins to their wallets, which stimulates the demand for tokens and raises their price. The two whales have added over eight billion tokens to their wallets in the past few weeks. Thanks to these purchases and support, the price of this token will increase in 2022, making it a profitable investment.​