Shiba Inu (SHIB 0.68%) has amassed a following among a certain group of cryptocurrency enthusiasts who value community and follow the hype. It probably helps that Shiba Inu’s price has climbed astronomically since its launch in August 2020, despite the extreme volatility.
As of April 17, this meme token is trading for a gut-wrenching 87% below its all-time high. That record was established in October 2021, at the tail end of a strong run for both stocks and cryptocurrencies. Speculative investors could be eyeing the current situation as an opportunity to be more aggressive.
But is Shiba Inu a better buy than Bitcoin (BTC 0.10%), the world’s oldest and most valuable cryptocurrency, right now? It’s time to compare the two digital assets.
Lacking a fundamental edge
Shiba Inu currently carries a market cap of about $7 billion. To its credit, a Layer-2 scaling solution called Shibarium was launched to…
