The price of Shiba Inu (CCC:SHIB-USD) is volatile. However, it’s still possible to make an informed decision about whether or not you should invest in this cryptocurrency. Unless there are sustainable gains, at less than 1 dollar per SHIB-USD coin, your hard-earned money could be gone before even realizing any return on investment.
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There’s a reason why the cryptocurrency known as Shiba Inu has yet to rise above $1. It was launched in August 2020, but the token has been no real-world utility or any value-proposition put forward at all.
That being said, the token has some strong features: you can buy and sell it on the open market, and earn passive income from staked SHIB-USD. In addition, 500 merchants accept this currency, setting it apart from other coins that do not have enough merchant partnerships.
Shiba Inu has more than 1 million investors, and they’re committed users. They’ve become part of what some call the “ShibArmy.” This group supports their favorite crypto play at all times. This makes Shiba Inu similar in many ways to meme stocks.
Investors are trading on positive momentum more than anything else. Shiba Inu has had a dream run this year, fueled largely by speculation. However, it cannot repeat its performance in the coming year unless it improves upon functionality.
Robinhood Listing Is a Catalyst Shiba Inu Needs
Cryptocurrencies are all the rage these days, but their values depend on supply and demand. As with other assets, prices tend to go up when there is limited circulation or increased desire. Bull are waiting patiently for current prices to increase again — not too quickly, though, because this could cause another bubble.
Shiba Inu’s supply is exceptionally large, 549 trillion coins. However, the enthusiastic online community that supports the token — known as “the SHIBArmy”– could spur increased demand if the crypto becomes popular among blockchain enthusiasts and traders alike. Much, however, will depend upon whether Shiba Inu can increase the number of use cases.
Shiba Inu operates on the Ethereum (CCC:ETH-USD) blockchain. With the Ethereum 2.0 upgrade in 2022, demand for Shiba Inus should increase significantly. The major update will make transactions faster and more affordable and ETH-USD bulls will have a field day when it occurs.
This new development could boost Shiba Inu’s profile. Consequently, the shift might encourage more merchants to start accepting payments in the form. Nevertheless, the Holy Grail for SHIB-USD remains a listing on the Robinhood (NASDAQ:HOOD) platform.
More and more people already recognize the cryptocurrency. But it could take off with an appearance on Robinhood. The app has up to 22.4 million users who easily invest in stocks/shares through their phone’s browser interface …….
Source: https://investorplace.com/2021/12/dont-expect-shiba-inu-to-repeat-its-astronomical-2021-performance/
