🥀 Can Shiba Inu Reach $0.10? 🤔
⭐ Nvidia (NASDAQ: NVDA) just surpassed a $3.3 trillion valuation, making it the largest company in the world by market cap. If you bought shares at its initial public offering in 1999, you would be sitting on a 542,220% gain, which could have turned an investment of $200 into more than $1 million (assuming you never sold).
⭐But an investment in meme cryptocurrency Shiba Inu (CRYPTO: SHIB) on Jan. 1, 2021, would have yielded a return of 45,278,000% by Dec. 31 of the same year. That's right: This speculative crypto could have made you a millionaire within 12 months from an outlay of just $3.
⭐There is a distinct difference between the two investments. Nvidia generates earnings, and its stock trades at an all-time high, whereas Shiba Inu has little utility and it's down 80% from its best-ever levels from 2021.
⭐ With that said, sentiment is improving across the cryptocurrency landscape, and Shiba Inu has nearly doubled in value this year (albeit from a very depressed level). Can it stage another historic run from its current price of $0.000018 and climb all the way to $0.10?
⭐ Shiba Inu will have to solve one of its biggest problems
It's very difficult for any digital currency to maintain its value without mass adoption. If consumers can't use it to buy goods and services, they have very little incentive to hold on to it -- unless, of course, they expect someone to come along and pay a higher price for it in the future.
😭 Unfortunately, since only 940 merchants worldwide accept Shiba Inu as payment, according to the website Cryptwerk, its price is very much determined by speculators.
