Sun. Oct 2nd, 2022

Shiba Inu is one of the crypto coins that has surprised everyone with the returns it gave in small period of time. There is a viral image of a Shiba Inu wallet, who bought Shiba Inu worth $8000 in the year 2000 and is worth $4 billion in October 2021. No other coin in the history of crypto world has ever given such a return in so less time. It is believed that the coin will continue to grow and may reach the price of a penny soon. Read this post to know if Shiba Inu can reach a penny or not .

What are the factors that can push Shiba Inu price to a penny?

There are a lot of factors that can result in this. First of all, though Shiba Inu is a meme coin, its supply is limited unlike Dogecoin. In fact, a lot of burns happen, and the supply will keep reducing with time. Another, major reason behind this is that the Shiba Inu community is very strong. They believe in this coin and and most of the people holding the coin are long term investors. This will ensure that there are very less price fluctuations and your investment will safely increase with time.

What are the factors that can stop Shiba Inu price from reaching a penny?

Most people say that if the price of Shiba Inu reaches a penny, the market cap will be huge. It is not possible to have such a huge market cap as so much money will not come in crypto market all sudden. However, in the field of crypto the logics have failed many times with other coins in past. The value of a coin is just what the people are ready to trade it for. It does not depend only on market cap and all.

When can Shiba Inu reach a penny?

At the time of writing this post, Shiba is number 12 coin based on total market cap on coinmarketcap website. As more and more investors choose to invest in this coin, the value will further rise. Also, there are burns happening regularly which will move the prices up. So, we can expect that Shiba inu prices can reach a penny in next 5 years by the year 2026. Now, here some factors need to be kept in mind. Growth of this coin will also be relative to the growth of bitcoin and other coins. If the adoption of crypto in general increases at a faster rate, Shiba Inu will also get popular and thus its price will increase with time.

Binance owning 1/5th of total Shiba Inu

In the year 2021 Binance bout a lot of Shiba Inu coins. They bought over $ 500 M worth of Shiba. They had a lot of promotions related to Shiba thus encouraging users to trade the coin. They also allow locked staking for this coin which further increases the adoption. We all know that Binance is the number one crypto exchange in the world. If they are so much bullish on the coin, it is almost a guarantee that the investors of Shiba Inu will see huge profit in future.

What is the best approach with Shina Inu Investment ?

In my opinion, the best approach with Shiba Inu investment is to invest for long term. Do not expect it to double in just a week. In fact, invest with an attitude of holding for 3-4 years. Suppose you buy Shiba Inu worth few hundred dollars today, you will get Shiba Inu coins in millions. When the Shiba Inu coin value really increases to penny, it will translate to huge money. It surely has the potential to make you a millionaire, but the most common mistake people will do is that they will cash out once their $100 investment doubles or triples. No one has the patience to hold for long term. Even in case of bitcoin, the people who made the highest returns were those who were able to hold it for 5-10 years.

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