- Shiba Inu saw downtrends lately, plunging by over 73% from its ATHs.
- Nevertheless, its latest Metaverse entry might catalyze price surges.
- You may need to consider some factors before investing in this meme coin.
Can Metaverse Entry Trigger Upswings for Shiba Inu
Shiba Inu (SHIB) is among the fastest-growing crypto, gaining over 41,016,167% since late 2020. Though the alt endured massive plummets recently, declining by over 37% from ATHs), some analysts trust SHIB has potential. Moreover, SHIB developers have improved the currency, even revealing Shiba Inu will jump into the Metaverse bandwagon. Is the meme coin going to launch a comeback? Moreover, can you earn riches by investing in Shiba Inu? Here’s what you may want to know.
Will SHIB Surge Again?
SHIB developers have worked various ways to ensure more utility for the alt, which has been vital in Shiba Inu’s success. Previously, the meme coin had few real-world use-cases, challenging its growth. Recently, the developing team unveiled Shiberse, SHIB’s gateway into Metaverse. The digital world allows individuals to interact in virtual communities, purchase digital services and goods through NFTs, and even buy digital land. Meanwhile, users will use SHIB tokens while in this Metaverse. Success in Shiberse will mean Shiba Inu coin thriving.
Some Risks to Contemplate
The new updates might make SHIB a tempting investment. However, you may need to consider some risks, and the crypto entering Metaverse does not imply guaranteed price surges. Shiba Inu remains with lea real-world usages besides the Metaverse. Unlike competitors like Solana and Ethereum, Shiba Inu cannot support ‘smart’ contracts since it isn’t a programmable blockchain. Instead, it is a payment token.
Few merchants take SHIB as a payment option, and those that do are likely to accept BTC than Shiba Inu. That way, Shiba Inu might experience challenges in its growth as it will require more to compete with the leading crypto, Bitcoin.
Moreover, Shiba Inu might encounter massive competition in the Metaverse. That’s because most crypto projects are establishing themselves for the move. Shiba Inu has to ensure more benefits over its competitors to stand out.
Should You Invest in SHIB?
However, we do not mean SHIB is not a coin to choose as an investor. However, the token requires constant improvements to ensure long-term relevancy. The crypto space is full of competition, and Shiba Inu lacks lucrative advantages, making it a ‘risky’ investment. Moreover, the crypto market is volatile. Be careful before investing in this token. However, if your bank balance allows it, you can put money in SHIB and wait for possible surges in the future.