From Nasdaq:

The approval of spot Bitcoin ETFs by the SEC has sparked new interest in the cryptocurrency market, bringing attention and trading volume to tokens like Shiba Inu. Despite being labeled a meme token, Shiba Inu has seen surprising growth thanks to ETF approvals and the Bitcoin halving event.

While Shiba Inu may be gaining traction, it lacks the utility of tokens like Ethereum or Ripple, which have specific use cases. However, Shiba Inu’s community continues to grow, celebrating milestones like cracking the top 10 in market cap and potential exchange listings, driving excitement for the token’s future.

The volatile nature of the cryptocurrency market was evident recently when Bitcoin reached a new all-time high only to experience a 10% decline shortly after. Shiba Inu followed suit, highlighting the roller coaster ride altcoin investors must endure, emphasizing the need for a strong stomach and long-term vision when holding tokens like Shiba Inu.

Investors considering Shiba Inu should weigh the potential returns against the risks and volatility that come with investing in sub-penny tokens. While the token may see short-term gains, reaching one cent would require significant movement and sustained commitment from investors, underscoring the importance of careful consideration and community support when holding Shiba Inu.



Read more at Nasdaq: Should You Buy Shiba Inu While It’s Less Than a Penny?