Investing In Stock Markets Vs Meme Coins Alike Shiba Inu - Report.

Investing In Stock Markets Vs Meme Coins Alike Shiba Inu - Report.

2021-10-27 | Mike Hallen

Investing In Stock Markets Vs Meme Coins Alike Shiba Inu - Report.

The stock market has been a wealth-creating dynamo for almost a century while it may not outperform commodities or bonds every year like meme coin Shiba Inu, its average yearly return outperforms all other asset classes in the long run. Then came cryptocurrency, which utterly threw this long-held belief system on its head. We've seen Bitcoin reach an almost 8,000,000,000% gain in a little over 11 years, while the benchmark over 500 has gained 273% over the same time span. That's a whopping 8 billion percent! Although Bitcoin(BTC) remains popular, especially with the launch of the first Bitcoin futures-based exchange-traded fund this week, Shiba Inu (SHIB) has been making headlines for its increases. Shiba has risen more than 5,500,000% since its inception on Aug. 1, 2020, as of late evening Oct. 20. What Makes Investment In Meme Coins Like Shiba Inu Best? To begin with, SHIB has been listed for trade on a number of popular cryptocurrency exchanges, which has increased ownership and raised investor awareness of its existence. There's also the obvious link to Tesla CEO Elon Musk, who recently adopted Floki, a Shiba Inu dog. Shiba tokens are sent skyward whenever Musk tweets about his dog or posts a meme featuring a Shiba Inu-breed dog. Another reason for the recent bullishness is the July 2021 launch of ShibaSwap, a decentralized exchange that allows investors to stake their coins to receive interest. However, we've seen lots of fad cryptocurrencies in recent years, and Shiba Inu could be the next one. Outside of a bitcoin exchange, it's essentially useless — an online company directory. Only 91 businesses accept SHIB, according to Cryptwerk, and it has an average holding time of fewer than two weeks, according to Coinbase. In other words, it appears that investors are unconcerned about SHIB's long-term prospects and are instead waiting for the near-term euphoria to continue.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List