Should you invest in Shiba Inu right now?

Shiba Inu is one of the most well-known tokens in the crypto market. The renowned meme token is also among the most speculative cryptocurrencies.

Regardless of the opinions of crypto investors, SHIB has substantial market potential. The current value of SHIB is $0.000009569 (at the time of writing), reflecting a 15.66% increase compared to the previous week. Since the introduction of its L2 Blockchain network, Shibarium, the token’s value has been steadily increasing.

It is because of Shibarium that Shiba Inu is now capable of rendering real-life use cases. If experts are to be believed, crypto is set to benefit once again because of Shibarium.

The L2 network plans to conduct a hard fork with NOWNodes, exposing the network to diverse nodes. With the integration, Shiba Inu developers can now expect milestones such as the new ShibaSwap launch and new integration exchanges.

As for related developments, Shiba Inu witnessed a massive dip due to 1.4 million SHIB being burned. The token took a 7% dip in the past 24 hours because of the activity. Even then, Shiba Inu overtook DAI and LTC to become the 16th biggest crypto based on CoinMarketCap.

Although the burning has caused a decrease in SHIB’s value, the activity aims to generate an artificial scarcity among users. Thus, it will help SHIB gain value in the long run. Given the buzz surrounding the coin, traders are naturally thrilled about its future growth.

If experts are to be believed, the latest SHIB price prediction sees the coin ending in 2023 at $0.00000885. However, given the current crypto market sentiment, the estimates can be exceeded.

Moreover, since Shiba Inu is indulging in massive crypto burning, users can see the token as a profitable venture in the upcoming months.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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