Considered to be one of the most dynamic and unpredictable cryptocurrencies out there, Shiba Inu has definitely made a name for itself. Its popularity is akin to that of Dogecoin, but instead of meme pages, it is followed by industry experts. Many consider this cryptocurrency to be the playing field of expert traders. The reason behind that is the fact one can either make a lot of profit with Shiba Inu or lose a lot. It can go either way and thus, requires a lot of study and research on the state of the market.
Current Condition of SHIB
For two weeks, SHIB (Shiba Inu) was at the top of the Coinbase volume rankings. Shiba Inu is retail-dominated crypto that claimed to have killed off DogeCoin. Yet, it didn’t stay at the top for too long either. It dropped a lot, but in October, it did contribute to market activity. It had been one of the top three most traded tokens ever since early to mid-October. It has only dwindled now as the holidays approach, and the market is on a halt altogether.
From an outsider’s perspective, it may look as if SHIB will go down. Yet, as the Bulls have proven, again and again, it might just be beneficial for people to hold on to it. But before making a decision, you should definitely do a lot of research. Much of which is unavailable due to the fact that crypto is quite new and a bit different from stocks. Make your own decisions, but make them wisely.