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There is no doubt majority of crypto investors have at one time wondered whether is Shiba Inu coin a good investment.
The answer to this is dependent on what you consider an investment. However, in this article, let’s say that it is an undertaking with long-term value. With millions of cryptocurrencies in circulation, it is becoming difficult to identify ones with long-term value.
Shiba Inu coin has been in the market for almost years now and is already among the top cryptocurrencies in valuation. Is this a coincidence or luck? I believe not. Shiba is among the most famous cryptos as well. Sometimes averaging top 3.
Challenges of Shiba Inu Coin
Initially, the coin faced a lot of resistance due to lack of utilization. This is because it didn’t have any meaningful use as a meme coin leading some analysts to classify it as a Ponzi coin with the prediction of failure in long term.
Another challenge facing Shiba is the number of coins in circulation. Although there was a major draw-down in the initial coin number of 1 quadrillion, there are still over 500 trillion coins in circulation. This makes it challenging to gain value faster.
Advantages of Shiba Inu Coin
To understand whether is Shiba Inu coin a good investment, we need to evaluate the coin’s solutions to the above challenges.
In the last few months, the coin has been trying to drop the meme coin tag by the creation of value on its network. This is happening through the launch of various innovations such as non-fungible tokens, metaverse solutions, and shibarium. A layer 2 network is currently under development.
On the number of coins in circulation, there is an ongoing coin burning strategy that is targeting to reduce the overall coin supply in the long term.
These measures are critical in solving the challenges facing the long-term value and existence of the coin.
Is Shiba a Good Investment
The above factors indicate a new coin that is working very hard to solve its inherent challenges. On the market side, the Shiba coin has already outdone itself both in pricing and value.
Shiba is also already past the 1 million investors mark which is considered a major milestone in the crypto market.
The only remaining challenge in the market is regulatory policies. These could break or make the market. However, up to now, so far so good.
The factors indicate a coin that has a long future that could become very lucrative if some of the above measures succeed. This makes it a good investment to take the risk on.