Shiba Inu’s value has plummeted by 90% since its peak in 2021, despite efforts to boost interest in the coin through initiatives like a metaverse and decentralized exchange. The lack of real-world utility is a major drawback, with Shiba Inu’s price driven solely by investor sentiment. Additionally, even with a crypto-friendly government, the meme coin has continued to decline by 68% over the past year. As other cryptocurrencies like Bitcoin and Ethereum offer more practical use cases, it’s wiser for investors to avoid Shiba Inu and explore better investment opportunities.

Investors considering Shiba Inu should be cautious, as the coin’s lack of utility and dependence on sentiment make it a risky bet. The Motley Fool Stock Advisor team has identified 10 other stocks with better potential for strong returns, highlighting the importance of thorough research and strategic investment decisions. It’s crucial to weigh the risks and benefits before investing in Shiba Inu or any other cryptocurrency, especially given the volatile nature of the market and the potential for significant losses.

Read more at Nasdaq: 1 Meme Coin to Avoid Like the Plague