đšShould You Buy Shiba Inu While It's Worth Less Than $0.01?đđ
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- Shiba Inu (SHIB)has only traded at fractions of a penny since its launch nearly four years ago$
- Currently trades at about $0.000018
- Some bullish investors believe Shiba Inu could still rise more than 58,700% to $0.01
âŠïžShiba Inu's Strengths
- Built on the Ethereum blockchain
- Pre-mined entire supply of nearly 1 quadrillion tokens
- Burned (taken out of circulation) more than 40% of its tokens to tighten up its supply
- Uses power-efficient proof-of-stake (PoS) method
- Supports smart contracts for decentralized apps (dApps), non-fungible tokens (NFTs), and other crypto assets
- Has a cross-chain decentralized exchange (DEX), ShibaDEX, and a Layer-2 blockchain protocol, Shibarium
âŠïžShiba Inu's Weaknesses
- Still pinned to the Ethereum blockchain and limited by its speed restrictions
- Processes transactions at a much slower rate than newer PoS blockchains like Solana (SOL) and Cardano (ADA)
- A few anonymous whales still hold trillions of Shiba Inu tokens, which could impact the price
- Only accepted for payments at a handful of businesses and unlikely to gain mainstream momentum as a payment option
đŽConclusion
- While Shiba Inu has strengths like its power-efficient consensus algorithm and growing ecosystem, its weaknesses cannot be ignored
- Investors should carefully consider these points before deciding to buy Shiba Inu while it's worth less than đ°0.01
- It's crucial to weigh the potential risks and rewards and make an informed decision based on individual financial goals and risk tolerance.
