Is Shiba Inu a Good Investment in 2022?
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The collapse of the FTX exchange has wiped over $187 billion off the overall cryptocurrency market cap. This has led to further bearish sentiment, with many worrying about the ripple effect. So that begs the question - Is Shiba Inu a good investment at current pricing levels?
This guide will cover the performance of SHIB, price predictions, and more to help investors make an informed decision on the investment thesis of this popular meme coin.
Shiba Inu (SHIB) was developed in 2020 by an unknown creator using the alias Ryoshi. It was developed as a direct rival to Dogecoin and is an Ethereum-based token.
The entire market has been enduring a crypto winter since late 2021 and a more recent blow came in the shape of the collapse of the FTX exchange.
This resulted in a market value loss of billions of dollars for the whole sector. This has led some investors to wonder, is it a good time to buy Shiba Inu coin?
The general consensus is that it is not too late to buy Shiba Inu. In terms of utility, this community-ran crypto project is building an ecosystem inclusive of its own DEX (decentralized exchange), P2E games, and a metaverse.
Whether now is a good time to buy, depends on the investor's appetite for risk.
Is Shiba Inu coin a good investment? First, let's take a look at how SHIB tokens have performed since they hit the market in August 2020.
Shiba Inu was trading at around $0.000000001 for several months after launching. That is until the meme crypto craze took center stage.
In 2022, the fall of FTX and the $500 million offloading of FTT tokens by Binance came as another significant
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