Like All Crypto, It’s Complicated — and Highly Volatile

Unlike Bitcoin, which is currently trading at around $35,000 per coin, Shiba Inu goes for just a tiny sliver of a penny — about $0.000008082 per token. The logic, according to Barron’s, is that cheaper coins draw wider audiences. Dogecoin, by comparison, is trading at a much more expensive 26 cents.

All that is fine and well, but like everything involving crypto trading, volatility is the name of the game with Shiba Inu. The coin briefly lost half of its value on the day that Buterin made the donation to India. That’s a single-day drop of 50% based purely on investor emotion and reaction to a news story — and in the world of crypto, that’s not at all unusual.

If you can handle that kind of heat, by all means — but keep in mind the nature of the roller coaster you’re about to board. 

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On May 9, Shiba Inu soared to its all-time high of $0.000035. The price almost immediately crashed back down to Earth and less than 10 days later, that number had an extra zero in it, as it does to this day.

Is Shiba Inu a Good Investment for You?

If you want to look in your digital wallet and see millions, billions or even trillions of something, you won’t do better than Shiba Inu — but few experts would recommend that as a sound investment strategy. 

Crypto, in general, is in a slump right now, particularly Ethereum-based tokens like Shiba Inu and Dogecoin. If that trend reverses course, it’s perfectly logical to believe that Shiba Inu will be lifted by the tide. In fact, on June 24, an expert writing for FXStreet used convincing logic to predict that Shiba Inu is due for an 80% price increase, and maybe it is. But it’s just as easy to find experts who predict that the coin of the moment will soon be tossed onto the trash heap of crypto history with the rest of the fallen altcoins.

SOURCE https://www.gobankingrates.com/investing/crypto/is-the-shiba-inu-coin-the-cryptocurrency-you-should-be-watching/?utm_campaign=1143969&utm_source=yahoo.com&utm_content=1&utm_medium=rss