3 Disruptive Stocks to Buy Before Shiba Inu
Popular cryptocurrency Shiba Inu (CRYPTO: SHIB) might be flying high right now, but we've seen this movie before. Its 73,000,000% rise in price this year was enough to make you a millionaire for just a $2 investment on Jan. 1, but history suggests those who take the plunge now could face significant losses instead.
Shiba Inu has a market capitalization (valuation) of $33 billion at the moment, slightly smaller than that of meme-coin trailblazer Dogecoin. Dogecoin was famously promoted by social media royalty, including Tesla CEO Elon Musk, but eventually its lack of adoption as a payment mechanism resulted in a 76% collapse in price -- and it still hasn't come close to reclaiming its all-time highs.
Globally, a mere 112 small businesses accept Shiba Inu as payment for their products and services, with 40% of them being in the cryptocurrency industry. It's simply not enough to incentivize consumers to buy and hold the token because they've got nowhere to spend it, and therefore it remains nothing more than a vehicle for speculation -- potentially dooming it to the same collapse as Dogecoin.
Source Fool.com
