Once called the ‘Dogecoin Killer’, Shiba Inu is losing its charm . The price drop is in line with cryptocurrencies across the board after the price of Bitcoin crashed to a six-month low. The total market cap of Shiba Inu has dropped to $11.35 billion. It was as much as thrice the current value during its golden days.
Read moreShould I still buy Shiba Inu?
While these developments may be promising, it’s important to keep in mind that Shiba Inu is still an extremely risky investment . It does have more real-world utility than in the past, but the crypto space is highly competitive. At the moment, there’s not much that sets Shiba Inu apart from other cryptocurrencies.
Read moreIs it too late to buy into Shiba?
It’s not or never too late and you can as well make a lot of money. You can not call Shiba Inu token a scam, but overall they serve no real purpose in cryptocurrency world. They are meme coins (Shitokens). These tokens are 100% Premined and are made just to make the developers billionaires.
Read moreIs Shiba Inu worth investing?
Well, Shiba Inu has been one of the best performing cryptocurrencies of 2021. It is still one of the top #15 largest cryptocurrencies by marketcap. But when compared to a Bitgert, it has been beaten as the best crypto investment in so many ways .
Read moreWhy is crypto going down?
Some of the drops have been caused by a combination of factors, Noble theorizes, from excitement about low-quality coins, to negative remarks from Elon Musk, to China’s recent crackdown on crypto services .
Read moreIs Shiba Inu burning coins?
has started testing the burn portal developers announced last month. By burning the tokens, the supply is reduced, effectively making Shiba Inu deflationary. According to a website which tracks the burning of Shiba Inu, over 410 trillion tokens have been burned so far .
Read moreIs it worth investing in Shiba Inu?
Well, Shiba Inu has been one of the best performing cryptocurrencies of 2021. It is still one of the top #15 largest cryptocurrencies by marketcap. But when compared to a Bitgert, it has been beaten as the best crypto investment in so many ways .5 Mar 2022
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