Every dog has its day – This perfectly stands true for this meme coin Shiba Inu. Shiba Inu is a Cryptocurrency that has been getting popular in recent days. The name of this coin is similar to the Japanese dog breed.

Since its introduction to the trade market, it has grown exponentially, garnering the attention of investors worldwide.

At the end of November 2021, the price of Shiba Inu rose exponentially by 173% within a week. However, the price also plummeted almost as fast.

While steep price hikes and falls make it easy to get caught up in the moment, it is important to know that Cryptocurrencies, especially meme coins, are highly volatile investments.

If you are new to the Crypto trading industry, you might have heard the name a few times but don’t know how good of an investment Shiba Inu would be; you are at the right place.

What Is Shiba Inu Coin?

Shiba Inu is an Altcoin that was created by a man named Ryoshi. Like many other Cryptocurrencies whose name is inspired by different things or animals, the Shiba Inu name comes from a Japanese dog breed.

According to the white paper of Shiba Inu, hilariously known as ‘Woof Paper’ in the Crypto community, the founder has launched Cryptocurrency on the Ethereum network.

The founder of the Shiba Inu has confirmed that only half of the total coin is available in the liquidity pool. At the same time, the remaining is sent to the Co-founder of Ethereum, Vitalik Buterin.

According to the sources, he is believed to donate most of the coins to charities and relief funds for COVID-19.

How Much Is Shiba Inu Worth?

At the time of writing, Shiba Inu’s value was $0.00001289. Compared to the $0.0000826 at its all-time high, the price has decreased by almost 85%.

As you can see, the value of Shiba Inu has fallen steadily since the end of last year. This fall has come after a massive rally of 430% during October-November 2021.

The Shiba Inu trend was started by Elon Musk, who had a Shiba Inu puppy and posted its picture on Twitter. Because Shiba Inu is new in the market, even a small fractional shift in trading can change the flow of the trading graph.

Is It A Good Investment?

Most of Shiba Inu’s popularity comes from hype. This hype future creates a FOMO effect that attracts investors to make investments and reap profits before it’s too late.

When Shiba Inu started to make news headlines, its popularity boosted further. And whether or not justified, investors just wanted to ride the trend wave.

While Shiba Inu was in the news, there was a rumor that the person behind this meme was Elon Musk. Later, people learned that it was Ryoshi, the man behind this popular meme coin.

But that’s not a rumor is that Porsche dealerships in Baltimore have started accepting Shib. Unfortunately, while they are accepting Shib, it is impossible to buy a 2022 Cayenne SUV, as it would need almost 4 million Shiba Inu coins (almost 2% of the total coins available in the market).

Further, according to sources, Shiba Inu will soon complete their Metaverse project that offers public land sales.

Seeing how different projects revolving around Shiba Inu, many experts have made shiba inu coin price prediction 2030.

So, now coming to your question – Is it a good investment?

It sure is a good investment, seeing how popular it is. However, volatility is the main issue. Coupled with the declining prices of the Shiba Inu coin, most might think it risky.

All Cryptocurrency investments are risky investments. It is up to you and your risk tolerance to decide where you want to invest.

Investment Is Risky; You Could Lose It All

You must understand that investing in Cryptocurrencies is nothing more than gambling. There are guarantees that you will see what you pay going up.

Cryptocurrencies are very speculative investments; sometimes, that speculation doesn’t bring exact results.

Hence, you must be prepared to lose all your Crypto investment in worst-case scenarios.