Over the next five years, there are three cryptocurrencies that have the potential to crush the Shiba Inu.
Points to Remember
In less than 15 months, Shiba Inu has increased by more than 5,500,000%.
When compared to these three cryptocurrencies, though, Shiba Inu’s future is bleak.
The stock market has been a wealth-creating dynamo for almost a century. While it may not outperform commodities or bonds every year, 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 percent increase in little over 11 years, while the benchmark S&P 500 has gained 273 percent over the same time span. That’s a whopping 8 billion percent!
The enormous achievements made by the Shiba Inu might be lost in a flash.
Although Bitcoin is still generating news, notably with the launch of the first Bitcoin futures-based exchange-traded fund this week, Shiba Inu (CRYPTO:SHIB ) has been turning heads with its increases. Shiba Inu has risen more over 5,500,000 percent since its inception on Aug. 1, 2020, as of late evening Oct. 20.
What makes a Shiba Inu a Shiba Inu? To begin with, SHIB has been listed for trade on a number of prominent 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 just adopted Floki, a Shiba Inu puppy. Shiba Inu tokens are sent aloft whenever Musk tweets about his dog or shares a joke showing a Shiba Inu-breed dog.
Another reason for the current bullishness is the July 2021 launch of ShibaSwap, a decentralized exchange that allows investors to stake their currencies to receive interest.
However, we’ve seen lots of fad cryptocurrencies in recent years, and Shiba Inu may 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 duration of less than two weeks, according to…