Shiba Inu calls itself the Dogecoin killer and is now the most talked about cryptocurrency in the market.
Shiba Inu is currently trading for dirt cheap and is available for purchase at an amount which is less than a cent and investors have pumped in lots of money on Shiba Inu buying it in large quantities that makes their portfolio assets seem large with the hope that when it hits $1, they would be rewarded with profit beyond imagination.
While investors hoped to see Dogecoin touch the $1 mark, the meme cryptocurrency failed to deliver and fell to new lows making its hype fizzle out. However, the goal post has now shifted towards Shiba Inu reaching the $1 mark and the hype around it is built all over social media.
Experts predict Shiba Inu might face many challenges to touch the $1 mark and reaching the target is not easy and would never happen overnight. FX Street predicted that there is slim chances of Shiba Inu reaching the $1 mark even in 2025 as SHIB token would need to rise 12 million percent to reach the $1 target, which is impossible considering the volatility the crypto market brings.
Market Realist predicts that Shiba Inu should deliver consistent growth trajectory in the future, only then can investors begin to hope that SHIB has a chance to cross the $1 mark, as a 12 million percent rise is seen as an impossible task in the financial markets. Shiba Inu is currently trading at $0.00000710 at the time of publishing and is up 3.8%.
Senior Analyst Warns Investors of Shiba Inu
Senior investment and market analyst at Hargreaves Lansdown, Susannah Streeter, has warned investors that Shiba Inu can wipe out money in the market and is trading only to make a joke out of people’s finances just like Doge. She revealed she wouldn’t be surprised if Shiba Inu leaves investors high and dry in the future as it’s not a worthwhile investment.
”The Shiba Inu coin appears to have been created just to give Dogecoin a run for its money. It features the same dog which became a meme and aims to replicate Dogecoin’s success of turning a joke into a money making machine. Investors should treat trading in crypto currencies with extreme caution, and dabble at the edges of their investment portfolio only with money they can afford to lose,” she said to the Express.uk.