Is Shiba Inu a good investment for the long term?

Is Shiba Inu a good investment for long term

Shiba Inu coin is today one of the most popular in the crypto market. Whether you asking if Shiba Inu is a good investment for the long term? or When the SHIB coin hit 1 cent cap? This SHIB Coin analysis can be helpful for you.

There are many promising crypto coins that are trending in the crypto market. In the crowd of meme coins, Shiba Inu Coin (SHIB) has made its own place without the support of any celebrity or whale investment. SHIB is the first coin that reached the top-10 coin list just 1 year after its existence.

Is Shiba Inu a good investment for the long term?

In the long run, Shiba Inu Coin looks promising but there is no value or use case behind this meme coin. The SHIB developers are trying to fill this gap with philanthropy campaigns like the rescue of Shiba Inu dogs and donations to covid-affected countries.

After enjoying the bullish run in October month now SHIB is down more than 50% from its ATH. As you know that once meme coins crash, they typically crash hard. However, you can buy SHIB Coin in this dip.

We always suggest crypto traders must do their own research before making any investment. The prices of cryptos can change their direction at any time so it’s better to do risk management before investing your hard-earned money in Shiba Inu coin or any other cryptocurrency.

What makes SHIB powerful?

As per CoinMarketCap listings, the SHIB coin ranks almost every week in the top-15 most visited coins list. Since its inception, the SHIB Coin is gaining popularity as the Dogecoin Killer. SHIB Coin price started in 2021 at $0.00000183 and in may month it skyrocketed to $0.00005038.

After a sudden spike in May 2021, the bearish run of SHIB started and it lasted till October 2021. On 28 October 2021, SHIB hit its new ATH $0.00008845. The recent price hike of SHIB surprised crypto traders and finally, the market value of SHIB broke all past records.

October month is also known as Bullish month in the crypto market when many coins along with SHIB skyrocketed and reached a new ATH level. However, SHIB is still on the top list of meme coins that rose nearly 1000% in 2021.

Robinhood listed Shiba Inu Coin

After Coinbase’s listing of the Shiba Inu Coin in September 2021, finally, now Robinhood also listed the SHIB coin for trading. Many crypto analysts had predicted that Robinhood is going to list Shiba Inu Coin very soon. After Robinhood listing, we didn’t notice such pumping with SHIB Coin as traders were expecting. However, this strategy increased the market cap of Shiba Inu Coin.

Is Shiba Inu Coin Really the Dogecoin Killer?

If we compare the Shiba Inu coin from Dogecoin with their current prices then we get to know that there is a long path SHIB needs to run to compete with DOGE. However, the best part of the Shiba Inu coin is that it doesn’t depend on the tweets of billionaire celebrities.

Recently when a crypto trader asked Tesla CEO Elon Musk if he own Shiba Inu Coin, even after his denial we didn’t see any negative impact on SHIB price. As we have seen the Musk impact on the price of Dogecoin, SHIB really looks promising.

After the Musk denial now SHIB is gaining popularity as the people’s cryptocurrency. Shiba Inu Coin holders call themselves the SHIB Army. They are behind the online campaigns and promotion of Shiba Inu Coin.

Shiba Inu long term price prediction

There are strong possibilities that the SHIB coin can surge in upcoming years. As per our SHIB Coin price forecast, SHIB will likely touch 1 cent cap before 2030. However, volatility drives the crypto market and there is no way to predict the price of any crypto asset 100% accurately. Once cryptos start to rise or crash they can thrash all price forecasts.