Imagine turning $100 into over $14 million. Shiba Inua holders achieved that goal.
Wondering what is Shiba Inu coin? We have you covered.
The altcoin has gone up more than 14,000,000% in less than two years. This altcoin lives on the Ethereum blockchain, and investors can’t get enough of it.
We’ll explore this cryptocurrency in greater detail. We’ll also explain why it’s become a hot asset.
What Is Shiba Inu Coin?
Shiba Inu coin is the latest crypto craze. Many investors watched as Bitcoin appreciated and produced incredible returns.
In response, some investors poured their money into smaller cryptocurrencies. Shiba Inu was one of those coins.
These investors believe Shiba Inu can produce life-changing returns. The coin fulfilled this promise for anyone who got into the cryptocurrency a few months ago.
The coin features a Shiba Inu hunting dog on the front of the coin. The meme coin went mainstream as retail investors rallied around the cryptocurrency. restbet giriş
What Is the Supply of Shiba Inu Coins?
The original crypto, Bitcoin, has a 21 million coin supply. The limited supply is a common argument for viewing crypto as an inflation hedge.
Similar to Bitcoin, Shiba Inu has a limited supply. However, Shiba Inu has a one quadrillion coin supply. One quadrillion is the same as 1,000 trillion.
This surplus gives Shiba Inu coins a disadvantage compared to Bitcoin. It’s one area of concern, but it hasn’t stopped investors from buying more coins. Looking at a Shiba Inu price chart reveals incredible growth over the past few months.
Why Is the Coin So Cheap?
Most investors would express frustration if their assets traded at $0.01. For Shiba Inu coin holders, $0.01 per coin would be a dream come true. seslidarp
Shiba Inu coins trade for approximately $0.00005, a fraction of a cent. The coin carries a market cap of over $20 billion. That market cap gets split among one quadrillion coins.
If only two Shiba Inu coins existed, they would each exceed $10 billion per coin. The market cap and coin supply determine a cryptocurrency’s price.
Is Shiba Inu a Risky Asset?
Cryptocurrencies present higher risks than most assets. The highly volatile nature exposes portfolios to 10% swings in a given day.
The most established cryptocurrencies (Bitcoin and Ethereum) present considerable volatility. Less established altcoins present higher volatility risks.
Shiba Inu’s 14,000,000% ascent warrants concern. Some assets feel invincible before they crash.
Shiba Inu’s $20 billion market cap gives it space to grow. Investors were also skeptical about Bitcoin’s continued dominance. So far, neither cryptocurrency has disappointed long-term investors. vdcasino
Are You Investing in Shiba Inu?
The Shiba Inu coin attracted a massive following in recent months. Speculators believe the cryptocurrency can become the next Bitcoin. Other investors bought into the cryptocurrency to diversify their holdings.
The 14,000,000% ROI in under two years will draw any investor’s attention. People wondering “what is Shiba Inu coin” decided to look into the altcoin. However, not everyone is buying into the crypto asset. forum
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