Is Shiba Inu a Millionaire-Maker Cryptocurrency?
Few assets have demonstrated more millionaire-maker potential than Shiba Inu (CRYPTO: SHIB), a controversial cryptocurrency that soared by 45,278,000% in 2021. But this unprecedented rally was based on hype instead of sustainable fundamentals, and the token gave back most of its gains by mid-2022.
Now, Shiba Inu is rising once again. Let's discuss its pros and cons to decide if it has become a good long-term buy.
Meme coins, which started in 2013 with the launch of Dogecoin, are less serious cryptocurrencies based on internet jokes. Unlike mainstream cryptocurrencies, they aren't designed for real-world utility or to improve upon the shortcomings of other networks. Shiba Inu was created in 2020 as an alternative to Dogecoin, and it copies some of the older cryptocurrency's branding, such as the Shiba Inu hunting dog.
Source Fool.com
