From Nasdaq: 2024-09-17 05:18:00

Shiba Inu posted a staggering 45,278,000% return in 2021, turning a $3 investment into over $1 million. However, its current price of $0.000013 is down 85% from its peak, lacking utility and adoption as a payment mechanism. Speculators heavily influence its trajectory, making future outcomes uncertain.

The cryptocurrency industry, including Shiba Inu, struggles with adoption, with just 981 merchants accepting the token. Despite efforts like developing a metaverse and implementing Shibarium for faster transactions, adoption remains low. A Layer-3 blockchain solution might enhance privacy and efficiency, but without widespread adoption, these improvements may not be impactful.

With 589.3 trillion tokens in circulation, Shiba Inu’s substantial supply may limit further upside even if adoption increases. A market cap of $589.3 trillion at $1 per token is unrealistic. A price target of $0.0001 could be more achievable, but would still require a 670% gain. Speculation drives its value, with unpredictable outcomes.

Considering Shiba Inu’s uncertain future and reliance on speculation, investing in more predictable stocks may be a safer choice. The Motley Fool’s Stock Advisor team selected 10 top stocks for investors, excluding Shiba Inu. Their track record shows significant returns compared to the S&P 500, emphasizing the importance of sound investment strategies.



Read more at Nasdaq: Should You Buy Shiba Inu While It’s Trading Under $0.0001?