While the entire crypto market has been going through serious shocks in the last two years, it still has the potential for growth, and some coins look like a great investment right now. Shiba Inu is one of the coins which may definitely return to their all-time highs, but there are experts who don’t believe that it has any future. So, what should you do: buy and hold SHIB or sell all of your coins now, before it’s too late? In this article, we provide a brief overview of all the key pros and cons of holding the coin.
About the coin
Launched in 2020, Shiba Inu is a decentralized project built on the Ethereum blockchain. Shiba Inu is mostly known for its native cryptocurrency called SHIB which is considered a memecoin, and its main goal is to outperform DOGE, the oldest and most popular of the memecoins. Actually, SHIB has been able to get ahead of Dogecoin for once, but now it’s slightly behind it by market cap. The project is an interesting example of viral marketing, and it has a large and dedicated community.
Shiba Inu is known for its original marketing strategy: about 50% of all coins were given to the founder of Ethereum Vitalik Buterin for free at the launch. That attracted a lot of attention to the project. What’s even more interesting, Buterin decided to burn most of its SHIB, lowering the supply and increasing its price. However, now the SHIB price is very low compared to its all-time maximum value, so it is really rational to ask yourself: should I sell my Shiba Inu coin for good?
Why dump it
First of all, Shiba Inu is a typical memecoin: its price is extremely volatile and relies heavily on how it’s perceived by the crypto crowd, and now it seems to be well past its prime. The tech behind it updated very slowly, and it hasn’t been able to gain any substantial popularity outside of the community. SHIB won’t probably become a universal payment method like BTC or ETH, and it’s definitely a problem for long-term development.
Why hold it
However, there are several good reasons to believe in SHIB. It has a strong community, and several celebrities including Elon Musk have publicly supported it. The price of the coin has corrected since the recent fall, and it starts growing back slowly. But what’s even more important, SHIB is a currency with deflationary nature, and its value should increase in the long term.