Is Shiba Inu Worth Buying Now for the Long Term?

Shiba Inu (SHIB), often referred to as the “Dogecoin Killer,” has gained significant popularity in the crypto space. Since its launch in 2020, it has built a strong community and expanded its ecosystem with Shibarium (a Layer 2 blockchain).

Its low price and high market capitalization understate why Shiba Inu is worth buying now for long-term investors.

Shiba Inu (SHIB): “ The Dogecoin Killer”

Shiba Inu (SHIB) is a meme-based cryptocurrency launched in August 2020 as an alternative to Dogecoin. Created anonymously under the pseudonym Ryoshi, SHIB started as a community-driven project but has since evolved into a full-fledged ecosystem with Shibarium (Layer 2 blockchain), SHIB: The Metaverse, DeFi applications, and NFT projects.

Unlike Bitcoin, which has a limited supply of 21 million coins, Shiba Inu originally had a quadrillion-token supply. However, a significant portion has been burned, reducing circulation. 

The project gained mainstream attention after Ethereum co-founder Vitalik Buterin burned 90% of his gifted SHIB holdings, making it one of the largest burns in crypto history.

Shiba Inu operates within an ecosystem that includes:

SHIB: The primary token used for transactions and investments.

LEASH: A more limited-supply token designed for exclusivity and staking rewards.

BONE: The governance token is used to vote on Shiba Inu’s decentralized decisions.

Shiba Inu’s Long-Term Potential

The following analyst insights showcase the reasons why Shiba Inu is worth buying:

Shibarium and Ecosystem Growth

One of the biggest factors supporting SHIB’s long-term value is Shibarium, a Layer 2 solution that aims to reduce transaction costs and increase speed. 

Shibarium helps SHIB to be used more efficiently for DeFi applications, NFTs, and gaming projects, which could drive demand and adoption.

Community and Adoption

Shiba Inu has one of the most dedicated crypto communities, known as the Shib Army. Strong community support has led to real-world adoption, including SHIB being accepted as payment by businesses and being integrated into major exchanges and payment platforms.

This growing community is one of the key reasons why Shiba Inu is worth buying now since it creates a sense of security and trust among investors.

Token Burns and Supply Reduction

A key concern with Shiba Inu has been its large token supply. However, the SHIB team has implemented regular token burns, removing billions of SHIB from circulation. If these burns continue at a high rate, they could contribute to price appreciation over time.

Enhances Security In Its Non-Custodial Exchange

The SHIB token is unique because it features its own decentralized exchange. This platform is non-custodial, meaning that the tokens never interact with other digital currencies. 

As a result, the exchange is less appealing to hackers compared to centralized exchanges that contain multiple cryptocurrencies. 

In this regard, these types of exchanges tend to be more secure than the former. 

Moreover, you can trade your SHIB tokens directly on this exchange with other ERC-20 tokens.

High Liquidity Ratio

High liquidity in financial markets refers to how swiftly an asset can be turned into cash. For example, if you possess stocks from different companies, some will have buyers readily available as soon as you list them for sale, while others might take weeks or even months before you find someone interested in purchasing them. 

Shiba Inu’s trading volume over the past 24 hours was around $453 million. This amount indicates that numerous investors are actively buying and selling the token. 

Therefore, you can include it in your portfolio, confident that you could quickly sell it when the right time comes.

Skilled And Experienced Developers Behind The Project

Despite remaining anonymous, these developers are diligently working to implement key features that may propel the token to significant achievements in the market. 

Given that the project is still fairly new, there is ample opportunity for them to enhance the coin and potentially elevate its status as time progresses. 

This could serve as a promising chance for investors to grow alongside an emerging project with a thoughtful investment. The potential of what this project might evolve into over the coming years is unpredictable.

Is Shiba Inu Worth Buying Now?

Shiba Inu is worth buying now as the price is low, and with the huge community around it, this project looks very promising and could be very profitable for you if you’re a long-term investor.

As the mania phase is approaching, Shiba Inu is one coin to include in your portfolio.