Shiba Inu coin is a Meme-based cryptocurrency token that was trending high on social media. Last week after listing the Dogecoin killer on the Coinbase trading platform, the value surged up instantly. At first sight, the coin was listed on Coinbase Pro; later on, it was listed on Coinbase. The hype is real. Investors can now purchase the SHIB coins on Coinbase.com.
The copycat of Dogecoin, SHIB, rejoice! US-based Coinbase announced that its customers can now trade and store SHIB on the exchange. While after its announcement on the popular trading platform, it surged more than 35% recently.
The token is currently trading at $0.000007061, as after the recent hype the value of the coin has dropped again. Watching Shiba coin grow on Coinbase Pro by 28% in one day was so exciting. It looked like it couldn’t get any better, but the Shiba Inu’s value has been under 0.00001010 since May, when the hype for this cryptocurrency reached its peak and then subsided rather quickly.
Why Shiba Coin Rises
Shiba Inu got its popularity from Elon Musk’s endorsements of the token and became more popular than ever with Dogecoin.
Elon Musk recently announced a new Shiba Inu puppy named Floki, which helped generate some hype for the SHIB token. Additionally, Elon Musk has significantly impacted crypto tokens that feature dogs, such as Dogecoin (DOGE).
As Shiba Inu coin success hinges on adoption, they’re looking for traders like you. The same way that Dogecoin grew its community by attracting thousands of people interested in trading altcoins with each other. Shiba aims to expand its trading groups too.
Furthermore, ShibaSwap burned $25,000 worth of tokens in mid-August to increase investment demand for SHIB. Rather than this, the token has firm community support from the very beginning.
Shiba Inu is down again
Shiba Inu hit the All-Time High on May 10; after that, it came back down for several weeks. However, after colossal support and a recent listing on Coinbase, it surged over 35% in value. However, that bullish move was for a short time. As a result, the SHIB token again dropped and is trading low from the current high value.
Will Shiba Rise Again?
Cryptocurrencies are becoming more popular, and their values have been on a rollercoaster. Cryptocurrencies are like digital gold. They’re highly volatile, and their values can change in the blink of an eye, but that’s what makes them such a fun investment.
The future of Shiba is unpredictable. This is because so many factors affect their prices, and it’s difficult for buyers or sellers to predict them, let alone make a profit off the market.
However, it may rise if more exchanges list the token, also to provide investors with opportunities for exposure, it is only a matter of time before they become mainstream.
Should I Invest in Shiba Coin?
Meme coins are all the rage these days, but as an investment, they’re not clear how those investments will convert their popularity into anything.
These days it seems that the most successful investors are people who don’t put their money on speculative short-term schemes. But, unfortunately, you’re just as likely to lose all your hard-earned cash.
If you want to invest in Shiba Inu with low risk, this year, 2021, is the perfect time to invest in Shiba Inu tokens. This is because the value of these investments has increased by the recent hype. Also, it will likely continue rising until it reaches one dollar somehow later.