What is the Shiba Inu Coin?
The Shiba Inu Coin is a meme coin that is a parody of the Dogecoin. It started in 2020 and was relatively unknown for a long time. The cryptocurrency symbol was an aggressive-looking Shiba Inu dog. It parodies the Dogecoin, which has the meme of a confused-looking Shiba Inu as its symbol.
Shiba Inu
After the dogecoin's success, few believed that another meme coin could manage to generate such hype. But this was also the case with the Shiba Inu Coin. As a meme coin, the Shiba Inu has no clear use or function. It is considered a pure investment object with which investors can speculate a lot.
How has the Shiba Inu course moved in the last few months?
The Shiba Inu course saw a massive explosion in 2021. After a strong increase in spring, the SHIB token broke all records again, especially in autumn. The Shiba Inu price hit an all-time high of $0.00008845 in late October. The price has risen by a factor of 2000 since the end of 2020.
After that, however, the bear market set in, causing us to see heavy losses in the months that followed. At the turn of the year, the Shiba Inu rate was only $0.000022. In the following months we continued to see some losses. In mid-June, the price even fell to $0.0000077. The Shiba Inu lost more than 90% of its value at an all-time high.
In the last few months, the Shiba Inu Coin price has stabilized again. At the beginning of October, the SHIB rate was $0.00011. Except for a sharp rise at the end of August, the Shiba Inu has tended to move sideways in recent weeks.
Why have more and more investors wanted to buy the Shiba Inu Coin in the past?
The rise of the Shiba Inu coin in 2021 once again showed the world what massive price increases a small cryptocurrency could experience within a few days and weeks. As already mentioned, the Shiba Inu coin increased in value by a factor of 2000 between the end of 2020 and October 2021.
Meme coins such as Dogecoin or the Shiba Inu Coin work primarily by attracting attention via social media . By sharing memes via platforms like Twitter, more and more theoretical investors are becoming aware of the meme coin. Due to increasing attention, a certain number of investors want to buy the Shiba Inu Coin.
After that, FOMO (fear of missing out) comes into play. Although many investors knew little about the Shiba Inu Coin, due to the increases in the price, they started buying the Shiba Inu. The rises in price of a meme coin like the Shiba Inu are so steep because social media proliferation coincides with FOMO.
How does the Shiba Inu coin work in the bear market?
With a speculative coin like the Shiba Inu, there is always the question of how these types of coins will perform in a bear market . When the Dogecoin made massive gains in the 2017 bull market, many investors believed that the Dogecoin could disappear in the bear market. But they underestimate how strong the Dogecoin was able to establish itself as a brand. Dogecoin remained among the most valuable cryptocurrencies in the bear market.
This story could repeat itself with the Shiba Inu. Many investors believed that the meme coin could only remain relevant in the short term. But even after the first phase of the bear market, in which the prices of the cryptocurrencies fell massively, the Shiba Inu can still be found among the top 15 cryptocurrencies by market capitalization.
Is it still worth buying the Shiba Inu Coin in the bear market?
The Shiba Inu Coin is therefore still one of the best-known cryptocurrencies on the market. Establishing itself on the market, even in a low-price phase, should ensure that the Shiba Inu can continue to establish itself on the market. This puts the Shiba Inu on the same journey as the Dogecoin. This was also able to establish itself in the last bear market and then rise sharply again in the bull market.
As such, buying the Shiba Inu now in the bear market can be an interesting strategy. Because by buying the token at low prices in the bear market, you can accumulate many coins. These could then come into the next bull market when the Shiba Inu coin experiences a massive rally again.
What is the risk if you want to buy the Shiba Inu?
Overall, meme coins are among the riskiest cryptocurrencies on the market. You can see massive price gains in short periods of time. This is how the Dogecoin and the Shiba Inu made many early investors rich. However, these coins have also caused a large crowd of late-comers to lose big bucks.
An investment in a meme coin is still extremely risky. But the risk can pay off. Investors who regularly invested in Dogecoin during the last bear market made much higher profits than when they invested in Bitcoin or Ethereum.
Meme coins therefore bring a greater risk, but also greater possible profits. So you can see the Shiba Inu Coin similar to the Dogecoin as a speculative risk investment within the crypto market.
Cost-Dollar-Average : You invest a constant amount in one or more cryptocurrencies at regular intervals, regardless of the prices of the cryptocurrencies. This allows you to accumulate many coins cheaply and in the long term, especially in the bear market.
Diversification: As in the normal financial world, you should also diversify your investments in the crypto market. We recommend a mix of Bitcoin, Ethereum, other alt coins and meme coins. In our opinion, meme coins should be 10-15%.
You should consider these strategies if you want to buy the Shiba Inu coin in the bear market. You're taking a big risk by doing that. However, there is a possibility that the Shiba Inu will repeat the history of the Dogecoin and also increase in value massively in the second bull market.
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