What Can Ever Cause Shiba Inu to Rise to 1 Cent?
2022-05-19 16:17:04
Will Shiba Inu Manage To Reach 1 Cent In 2022?
In the world of cryptocurrencies, new trends are often destined to change the fate of certain coins. Some of these trends are caused by specific market needs or technological development, while others are caused by marketing campaigns and celebrities advertising them. One of the most discussed cases was the trend of dog-inspired meme coins, which began in 2020/2021.
Meme coins are cryptocurrencies that make use of social media jokes or sarcasm in order to gain popularity. They often do not offer any real services and are considered the most volatile investment available to retail investors, because their price is mainly influenced by marketing and community hype. One of the first meme coins was DOGE, followed by many others , like for instanceSHIB, the so-called “Dogecoin Killer”. SHIB had a great price trend in the very beginning, when many people started to buy Shiba Inu coin as an attempt to capitalize on the mass appeal that Dogecoin generated. One of the most argued questions is whether Shiba Inu will ever reach the important price level of $0.01.
Due to meme coins' quick rise in both price and popularity, some people say that there is no reason to buy this type of coins as they do not offer any revolutionary features and do not have major plans. Because of this, the price will eventually fall and the ‘bubble’ burst causing a dramatic decrease in meme coins price. On the other hand, supporters of meme coins believe that the power of the crypto community should not be underestimated, and that it is able to drive up the price of meme coins in any case. Shiba Inu has indeed a huge crypto community that helped the coin to maintain certain price levels and to still retain the 16th place for market capitalization. However, all this may not be enough, as long as the development team does not also come up with a solution on how to make the project useful for real use cases.
So far, Shiba Inu is used to power the decentralized exchange called ShibaSwap, where users can stake their tokens, provide liquidity, and swap SHIB with other tokens. It is also used by some people as a form of payment, and the community hopes that more and more merchants will do the same. These two factors can add value to SHIB in the long term. Still, because of its huge supply, a per token price of $0.01 would imply a market cap in trillions of dollars, which would be extremely difficult to reach considering that even bitcoin has not reached that level yet.
Investing in meme coins can result in high risks due to their volatility. On the other hand, since these are highly influenced by marketing and community hype, buying them at the right time has the potential to bring in high returns. For example, if the Shiba Inu team continues to develop new products, we may see a rise in the price of SHIB in the future. Crypto exchanges like Gate.io provide information and tutorials about their coins listed, which helps you to choose what to do.
In the world of cryptocurrencies, new trends are often destined to change the fate of certain coins. Some of these trends are caused by specific market needs or technological development, while others are caused by marketing campaigns and celebrities advertising them. One of the most discussed cases was the trend of dog-inspired meme coins, which began in 2020/2021.
Meme coins are cryptocurrencies that make use of social media jokes or sarcasm in order to gain popularity. They often do not offer any real services and are considered the most volatile investment available to retail investors, because their price is mainly influenced by marketing and community hype. One of the first meme coins was DOGE, followed by many others , like for instanceSHIB, the so-called “Dogecoin Killer”. SHIB had a great price trend in the very beginning, when many people started to buy Shiba Inu coin as an attempt to capitalize on the mass appeal that Dogecoin generated. One of the most argued questions is whether Shiba Inu will ever reach the important price level of $0.01.
Is Shiba Inu a Bubble or a Good Investment?
Due to meme coins' quick rise in both price and popularity, some people say that there is no reason to buy this type of coins as they do not offer any revolutionary features and do not have major plans. Because of this, the price will eventually fall and the ‘bubble’ burst causing a dramatic decrease in meme coins price. On the other hand, supporters of meme coins believe that the power of the crypto community should not be underestimated, and that it is able to drive up the price of meme coins in any case. Shiba Inu has indeed a huge crypto community that helped the coin to maintain certain price levels and to still retain the 16th place for market capitalization. However, all this may not be enough, as long as the development team does not also come up with a solution on how to make the project useful for real use cases.
So far, Shiba Inu is used to power the decentralized exchange called ShibaSwap, where users can stake their tokens, provide liquidity, and swap SHIB with other tokens. It is also used by some people as a form of payment, and the community hopes that more and more merchants will do the same. These two factors can add value to SHIB in the long term. Still, because of its huge supply, a per token price of $0.01 would imply a market cap in trillions of dollars, which would be extremely difficult to reach considering that even bitcoin has not reached that level yet.
Where Can I Find Information About Shiba Inu and Where Can I Buy it?
Investing in meme coins can result in high risks due to their volatility. On the other hand, since these are highly influenced by marketing and community hype, buying them at the right time has the potential to bring in high returns. For example, if the Shiba Inu team continues to develop new products, we may see a rise in the price of SHIB in the future. Crypto exchanges like Gate.io provide information and tutorials about their coins listed, which helps you to choose what to do.
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