“Should You Buy Shiba Inu While It’s Still Below One Cent?”
January 24, 2024
“Even though the Shiba Inu (CRYPTO: SHIB) token is down roughly 88% from its all-time high, the cryptocurrency is still up massively. The popular meme coin gained 18,600,000% from its low shortly after its launch in 2020.
With Shiba Inu currently trading at roughly $0.00001 per token, the coin could reach a price of $0.01 per token if it were to rise 99,000%. If the cryptocurrency were to deliver that kind of performance, investors who purchased $1,000 worth of the token would see their position grow to be worth more than $990,000…”
https://finance.yahoo.com/news/buy-shiba-inu-while-still-111500151.html
Well I am invested in Shiba Inu so obviously I’m going to say invest. That being said there’s a few things that need to happen before it reaches 1 cent in my opinion. More importantly than burns (deleting a percentages of the currency forever) I think the crypto needs to be accepted as payment for some major platforms. Overall this is the best way to increase it’s value.
Increasing the burn rate can raise the coin to a penny but then it becomes a race to see who can pump and dump the fastest. Shiba Inu needs something to give it staying power. In any case I do believe Shiba Inu will reach a penny. I hold a large amount of it because of that. When will it? I don’t don’t know. Hopefully soon. That would be good for me. Haha.