Cryptocurrencies are often divisive, but Shiba Inu is in a class of its own. Critics have called it a pump-and-dump scheme and said that it’s practically useless. On the other hand, it has a massive number of followers who love to hype it on social media, and it was one of the most successful investments of 2021.
Is there still room for Shiba Inu to grow? Anything’s possible with cryptocurrency, but you should be very cautious if you’re thinking of buying this one.
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What is Shiba Inu coin?
Shiba Inu is a cryptocurrency meme token launched by an anonymous founder called Ryoshi. Like Dogecoin (DOGE 3.34%), it’s based on the Doge meme, which features a Shiba Inu dog. It even calls itself the “Dogecoin killer.”
The white paper (referred to as a “woofpaper”) for Shiba Inu describes it as a community-based cryptocurrency project. This essentially means that the decentralized Shiba Inu community, known as…
