Shiba Inu – hold or take profit?

Elon Musk’s favourite cryptocurrency Shiba Inu has once again broken the price record, which can be seen at https://cryptotracker.com/price/shiba-inu. But does it make sense to hold it – or is it better to take profits until a rollback occurs again?

What happens to the Shiba Inu course?

Over the past few weeks, the rate of cryptocurrencies has dropped significantly. However, experience shows that after a big drop, there must be a big rise. Moreover, this coin has already shown growth by hundreds and thousands of percent, and in a short period.

In addition, Shiba entered the TOP-15 in terms of capitalization among cryptocurrencies. The reason for such increased attention to the token was a poll by the popular trading platform Robinhood about which coin to add next for trading. Shiba Inu was included in the list of contenders, which caused a sharp surge in trading volume.

How can I trade Shiba Inu?

The Shiba Inu project was launched in August 2020 as an experiment to spontaneously create a decentralized community. And, looking at the current course, we can say with confidence that the adventure was a success. Initially, the Shiba Inu token was considered as a kind of analogue of Dogecoin, but eventually grew into a larger project than Elon Musk’s protege.

Today, Shiba Inu is a full-fledged ecosystem with its own decentralized exchange, the ability to create non-fungible tokens (NFTs) and smart contracts. Only these facts speak of its superiority over DOGE.

However, despite all this, Shiba Inu is still a “hype” cryptocurrency that investors should probably get out of and take profits after each new pump, as it is always followed by impulsive sales. Although the project can be called promising, it is still extremely manipulative. It will not be possible to call it a quality investment asset for a very, very long time.

Can Shiba Inu still grow?

Some experts believe that Shiba will not stop there. Thus, Bloomberg analysts claim that Shiba has gone far beyond the competition with DOGE. The experts also note:

  • the importance of building your own infrastructure,
  • clear work of the ecosystem around the cryptocurrency.

There is also an opinion that in the future, the capitalization of Shiba Inu will become higher than that of Dogecoin. Their convergence in the ranking by some opinion has already provoked chaos in the community of meme cryptocurrencies.

However, predicting something today does not mean a complete guarantee of the future. Indeed, there is a lot of fear and mistrust in this digital currency. However, capitalization at the level of $6 billion is no longer just some kind of joke or joke. Behind this is a serious infrastructure, thousands of fans and asset owners. Therefore, only a person needs to decide whether it is worth investing in this asset and believing that after some time personal assets will add hundreds, and maybe thousands of percent.

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