Shiba Inu proved that decentralized meme crypto has a place in the list of top 20 cryptocurrencies. In 2021, the Shiba Inu coin gave jaw-dropping ROI. It increased by 48,000,000% from 1st Jan to attaining an all-time high by the end of October. Investors who invested $10 worth of Shiba Inu early in Jan 2021 became a millionaire within just 10 months.
Will Shiba Inu repeat the monumental returns in 2022?
Many things indicate that Shiba Inu’s price, utility, and adoption rate will increase. However, the monumental returns of becoming a millionaire from a $10 investment in SHIB seem blurry.
Reasons Shiba Inu price exploded in 2021
Newcomers to crypto in 2022 will find Shiba Inu a vital component of the crypto sector. Nevertheless, the story was different one year ago [2021]. An anonymous developer ‘Ryoshi’ focused on building a spontaneous community, launched Shiba Inu in late 2020. After launching the crypto Ryoshi stepped back allowing the coin to develop. Half of the SHIB supply was transferred to Buterin, the co-founder of Ethereum.
Buterin was not at ease with the control. He burnt 41.02% of SHIB and transferred the remaining tokens to India’s COVID relief fund. After a few days, the price of SHIB tokens skyrocketed with a market cap closing to $14 billion. Its instant popularity dazzled investors’ interest last year and its market cap escalated to over $41 billion.
Shiba Inu is a meme coin with plenty of similarities to Dogecoin. However, you will need a crypto wallet suitable for the specific cryptocurrency. USDC wallet is designed for storing USD Coins or stablecoin pegged with the US dollar. You can get a wallet from the reliable platform ZenGo X and learn a lot about cryptocurrencies’ pros and cons.
Shibu Inu investment pros in 2022
- Shiba Inu is planning to launch its 2-layered blockchain network in 2022. Once launched SHIB token as well as Shiba-Inu NFTs will be transferred to Shibarium.
- Shiba Inu is planning to introduce metaverse experience in SHIB. More than 100,000 virtual LANDs have already been sold with thousands waiting to be snapped on the launch of Metaverse.
- There is a play-to-earn Shiba collectible card game….an upcoming project.
- Shi stablecoin is also being rolled out soon for use on Shibarium.
- After USDC, Shiba Inu is 2nd largest holding among the Ethereum Whales.
Cons
- Shiba Inu has no centralized hub to keep track of developments because investors depend on the words of an anonymous source.
- How the BONE token projected to be used for gas and governance on the Shibarium network will work is still unclear.
- Competition in meme-coin space is with Dogecoin but in Metaverse and collectible earning games, SHIB is against stiff competition against Decentraland, Polygon, Axie Infinity, etc.
- There is little information associated with Shi stablecoin pegging.
Is there a future for Shibu Inu in the crypto world?
Experts believe that Dogecoin got popular because of Elon Musk’s tweet but the SHIB token has no such tycoons or celebs in its corner. Besides, SHIB got portrayed as Dogecoin Killer, so it seems impossible to get the support of a multi-billionaire anytime soon. There is a limited SHIB supply. Even though it can accommodate a mass of investors the number is finite. It can spur speculation in the future.
You can get the Shiba Inu Wallet because if its price persists to increase then it can turn out to be a worthy investment.
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