It’s the million-dollar question – should you HODL Shiba Inu?
There’s no easy answer, and it largely depends on your circumstances and investment goals. However, we’ll try to provide some guidance by looking at the pros and cons of holding Shiba Inu.
The Pros of Holding Shiba Inu
With the exception of a few very early investors, anyone who has bought Shiba Inu has made a profit. The coin has exploded in value since its launch, and shows no signs of slowing down.
Here are other advantages of holding Shiba Inu.
Shiba Inu is a meme coin with a substantial online following.
With the hype around dogecoin, it’s no surprise that Shiba Inu has attracted a lot of attention. The coin has a robust online presence and community, which can help to drive up prices.
Shiba Inu has the potential to become a top 10 cryptocurrency.
Shiba Inu is currently ranked 15th on CoinMarketCap with a market cap of over $6,858,779,085 USD. However, if the coin can continue to gain traction, there’s a real possibility that it could break into the top 10.
Shiba Inu has a relatively low price per coin.
At the time of writing, the price of one Shiba Inu is $0.000012. This makes it a very affordable coin, which could be a wise investment in the long run.
The Cons of Holding Shiba Inu
Shiba Inu is a relatively new coin and is high risk.
As with any new coin, there’s always a degree of risk involved. Shiba Inu is no different, and, as it’s still in its early stages, it’s likely to be more volatile than some of the more established coins.
Shiba Inu could be considered a pump and dump coin.
Pump and dump coins are those that investors hype up to drive up prices before selling off their holdings and crashing the market. Unfortunately, this type of activity can be harmful to both investors and the crypto community as a whole.
Shiba Inu may be a scam coin.
There have been a number of allegations that Shiba Inu is a scam coin. While there is no concrete evidence to support these claims, it’s something that potential investors should be aware of.
So, should you HODL Shiba Inu? Ultimately, the decision is yours, and you’ll need to weigh up the pros and cons in light of your own investment goals. However, let us hope that the Shiba Inu coin will continue growing and succeeding in the cryptocurrency market!