What's Up with Shiba Inu SHIB
In 2021, Shiba Inu (SHIB-USD) was probably one of the most surprising victors.
There was a 44,600,000 percent increase in the token last year. Speculators were drawn to this dog-themed meme token because of the high rate of return.
When you open the hood, you'll find that there isn't much to look at. Shiba Inu is a concept with no practical use.
There aren't many use cases outside of crypto exchanges that investors can latch onto as justifications for holding this coin.
There's the "Shibarium" and other projects that have been discussed. Only around 100 businesses accept Shiba Inu as a form of payment worldwide. Most of the firms are unknown and crypto-related.
Furthermore, this currency does not have any benefits over its rivals in the marketplace. Just an ERC-20 coin with no real transaction speed or fees would make it stand out from the others.
Yes, the Shiba Inu breed has a devoted fan following and a robust marketing campaign.
However, I don't believe it's a good idea to get caught up in the hoopla at this point. My list of cryptos to stay away from right now surely includes this one.
