I know am in a HODL position. I can see where this coin will hit the moon as they say! The coin is now moving up the ranks in my top 10 crypto coins, take a look here at my list. You think Shiba Inu Coin will go to the moon or you man not, but I think you’d be in a good bet if you invested $100 today rather than be sorry you didn’t in the future!
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"Like most cryptocurrencies, Shiba is not commonly used for commercial transactions and is considered by most experts and investors to be a high-risk, speculative bet due to the broader volatility of the crypto market.
Experts warn that investors need to be cautious about putting money into something with anonymous leadership that appears to have little functional use." – But isn’t that the point? To be anonymous with your money? And recently a French business accepts Shiba Inu Coin, so Yes, crypto is making is way into commercial settings for payments of services.
"This is what happens when you have massive speculation in assets with no intrinsic value," Reiners said.
Investors might be thinking this story sounds familiar. Bitcoin has doubled in value twice this year – with a rapid plunge in between – and now sells for more than $60,000 per coin. Among stocks, GameStop had a surge that rivals Shiba’s, rocketing from about $17 per share in early January to $483 later that month. Lately, it’s consistently traded around $180.
A petition with more than 450,000 signatures on Change.org is pushing for the mobile trading app Robinhood to start allowing Shiba trades. Robinhood currently allows trading of Dogecoin and other cryptocurrencies. Its CEO Vladimir Tenev told investors last week that the company would "carefully evaluate whether we can add new coins in a way that’s safe for customers and in line with regulatory requirements."
Stronger regulation of the crypto markets seems inevitable, but it’s unclear when it might happen. The chair of the U.S. Securities and Exchange Commission, Gary Gensler, said in August that the world of crypto doesn’t have enough investor protection and compared it to "the Wild West."
Whether that lack of regulation is driving the recent spikes in Shiba and other digital assets is not clear. What seems apparent though, is that retail investors – the little guys – are leading the way.
Said the median trade size of Shiba on that busy Wednesday was $115. That’s "highly suggestive" that the typical Shiba trader on Coinbase is a small retail trader, Water said.
Shiba’s rise is similar to Dogecoin’s ascent in the spring, when it caught fire and rose jumped from around 5 cents to 57 cents between April 7 and May 7.
Like many other crypto currencies, Shiba is shrouded in mystery. According to its white paper – or "Woof Paper," in this case – the token was started in 2020 by an anonymous person or group named "Ryoshi." The paper, which describes how Shiba and its progeny works, is also peppered with soaring-but-vague platitudes about community, freedom, revolution and destroying traditional paradigms.
What are your thoughts on Shiba Inu Coin beating Dogecoin in the race for cryptocurrency dominance? Comment below, lets start a conversation! Please share this post, it helps me out a lot!
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