Is Shiba Inu a Buy? This One Metric Holds the Answer
Shiba Inu (CRYPTO: SHIB) skyrocketed to fame as a popular meme coin with little to no intrinsic value. You simply bought the coin because it featured a cute dog as a mascot, and it only seemed to go up in value.
For an almost comically low price of $0.000012, you, too, can still own a cryptocurrency with seemingly unlimited upside potential. But there is just one problem: The cryptocurrency launched with a massive supply of 1 quadrillion coins (a 1 followed by 15 zeros).
To put that into perspective, the current circulating supply of Ethereum (CRYPTO: ETH) is 122 million coins. The maximum total supply of Bitcoin (CRYPTO: BTC) -- ever -- will be 21 million coins. It's evident that Shiba Inu has a problem with oversupply -- 1 quadrillion is an insanely high number. There's too much supply of Shiba Inu, and not enough demand. Until it dramatically reduces the number of coins, its price has limited upside potential.
Source Fool.com
