Is Shiba Inu Coin A Good Investment

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The surge should not come as a surprise and should be the only reason to invest in this coin, as exponential growth is common among newly introduced cryptocurrencies. This is because of their comparatively lesser value. The value of Shiba Inu is currently sitting at $0.00000163, compared to a lower $0.0000006 in mid-April, according to CoinMarketCap.

It’s the market cap of this new coin that is drawing a lot of eyeballs. Shiba Inu is valued at a staggering $13 billion. In comparison, Dogecoin is valued at $61 billion. The latter had gone up to $90 billion but has fallen since, especially after Dogefather Elon Musk’s Saturday Night Live appearance.

One major difference between the two currencies is that while Dogecoin is a coin, Shiba Inu is a token. The difference between the two is that cryptocurrencies have their own blockchains, whereas crypto tokens are built on an existing blockchain. Shiba Inu coin is sold as SHIB tokens.

As mentioned before, it is based on Ethereum. And, at this moment, Ethereum’s founder Vitalik Buterin seems to be the biggest beneficiary of SHIB’s rise. The price surge has added a whopping $11 billion to his net worth. Buterin holds over 505 billion SHIB tokens representing 50% of its total supply.

Will Shiba Inu reach 1 cent??
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