Last month, Shiba Inu saw a major boost in prices after Elon Musk tweeted pictures of his dog Floki. Musk Happens to be a Fan: There is no doubt about the impact that celebrities have on cryptocurrency trading. The platform has not yet commented on this initiative but instead reported a US$30 million revenue from DOGE trading in the first quarter of 2021 after adding it to the list. Investors have initiated petitions calling on Robinhood to support SHIB. Possible Robinhood trading: Shiba Inu’s passionate community of investors has been pressuring the popular trading app Robinhood to list the crypto to its shortlist of tradable cryptocurrencies. Additionally, Ether’s proposal to move to the proof-of-stake protocol might also prove beneficial in this regard. This indicates that the crypto runs on the Ethereum blockchain. But what differentiates SHIB from its rivals is its status as the ERC-20 token. SHIB is an ERC-20 token: Several investors wonder if they should choose Shiba Inu against its rival meme coin Dogecoin, which gave rise to the maddening popularity of this crypto. ShibaSwap users can stake their cryptos to generate better returns, just like interests paid on a savings account. Decentralized exchanges are peer-to-peer exchanges that allow users to trade cryptocurrencies without relying on any intermediaries. ShibaSwap: Shiba Inu developers have created the ShibaSwap decentralized exchange for the SHIB community to build its brand. It is relatively easier for SHIB to triple and quadruple in the short-term or long-term than other big cryptos like Bitcoin or Ethereum. Experts believe that at such a price, investors could see a 100% profit from SHIB in the future. The price of a crypto trading asset is highly essential as it plays a crucial role in helping the trader use the percentage change to track the gains depending on the number of coins purchased. SHIB is very cost-effective: Currently, SHIB’s trading price is very cost-effective, attracting several crypto investors. In this article, we dive into the pros and cons of Shiba Inu to analyse the perks and drawbacks of investing in it. Most controversies revolve around its value as a long-term investment. Even though the ‘Dogecoin killer’ has a substantial amount of attention from the cryptocurrency community, there is a lot of controversy about its existence and what it would achieve in the future. Recently, the SHIB community has celebrated 1 million holders, creating a stir in the crypto market. However, Shiba Inu’s rise to prominence in such a short amount of time is most impressive. Several parabolic price rallies in a vast range of cryptocurrencies have been recorded in all these years. This sort of outsized interest in SHIB is not uncommon. The crypto rose by 24.34% in the last 24 hours and has bagged about 800% growth. SHIB inspires dog-enthusiastic artists from around the world to foster what the creators refer to as the ‘artistic Shiba movement,’ bringing the Shiba community to the NFT market. It is one of the most popular meme tokens that has taken off recently. Shiba Inu is relatively one of the new coins that can serve as one of the best hedges for an investor’s portfolio. By Sayantani Sanyal DecemThe price fluctuations of Shiba Inu have left investors confused about the coin’s future offerings.
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