23/02/2022
In August 2020, an unknown person or a group named "Ryoshi" launched a meme crypto by the name "Shiba-Inu" or SHIB. The opening price was between $0.00001-$0.00002. Sounds similar to Dogecoin, right?
In 2013, Dogecoin was released by two software engineers named Billy Markus and Jackson Palmer as a "joke". They wanted to create a payment gateway out of a meme and now, Dogecoin has a market cap of $20 Billion. There are almost unlimited number of Dogecoins in supply, just like SHIB and each year, 5 Billion DOGE are included in the circulation. Currently, each DOGE is priced at $0.1. The higest ever price of a DOGE was $0.64 in May 2021.
Similarly, there are almost 1000 Trillion SHIB Tokens in circulation and the market cap is around $12.5 Billion. Each SHIB is priced at $0.000029. So the main question is, should you invest in SHIB?
According to experts, you should invest in SHIB but not for the long-term. Like DOGE, Shiba Inu is also a meme crypto, which may not perform well in the long term. In order for short-term gains, investing in SHIB is recommended. Never make a huge investment in these meme cryptos. The maximum one should invest in DOGE or SHIB is $1000-$2000.
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