Shiba Inu is a coin that was created against the Dogecoin, and its nickname was “Doge killer” back in the day. It was created in August 2020 by “Ryoshi” and published after Dogecoin. Shib’s market price is low, so this made users buy millions of Shib coins and increased the volatility of Shib. These kinds of coins are called “Meme Coins” and are usually bought when they are popular over the internet. Shiba Inu is one of the example Meme coins.
Is Shiba Inu a good investment?
Shib is one of the altcoins that uses Ethereum based technology. Shiba Inu is a Japanese dog, and the coin’s name comes from this dog as a meme, and it shows that it is a rival of Dogecoin. These kinds of meme coins are launched only for memes, and sometimes you might not get the result you want by investing in these meme coins. Even though it was a meme coin at the beginning of this journey, it is now evolving into a Vibrant Ecosystem, according to the creator. As we always say, while investing in a coin, make sure to check every project they have for the future and what can they solve. You can always invest into meme coins but do not expect them to succeed all the time.