CRYPTOCURRENCY: Doge and Shiba Inu, why you should invest in them

Many still hold grudges against cryptocurrencies, believing it is a Ponzi scheme and not good for investment. It is false. This article will try to expatiate more on if Doge and Shiba Inu are a good investment in 2021.

Foremost, with the incursion of Bitcoin in 2009, the world has kept moving from absolute fiat transaction( that is, your paper money transaction) to a more digital asset.

Cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. They are not controlled by any central authority of government rather by the force of demand and supply.

In addition, cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

However, to understand cryptocurrencies, we can’t sideline the value of BTC in 2009 when it was created. It is $0. Today, nevertheless, the value is not hidden from any of us.

For our discussion, we will limit ourselves to Doge and Shiba Inu and stress why they are a good investment in 2021.

Is Dogecoin a Good Investment?

Ever since Elon Musk tweeted about Dogecoin going to the moon, dog-themed cryptocurrencies have exploded in value.

Without much argument, Dogecoin has no competitive advantages over other more established cryptocurrencies like Bitcoin, Ethereum and Cardano etc. However, has a promising long time investment.

Dogecoin is essentially the same technology as Bitcoin. Its code was copied and pasted from Bitcoin’s.

But Dogecoin isn’t an exact clone of Bitcoin. Dogecoin has a much higher circulating supply than Bitcoin, and there’s no maximum supply for the doggy-themed cryptocurrency.

With over 129 billion DOGE in circulation, the supply is far more abundant than Bitcoin’s 21 million maximum supply.

DOGE’s price underwent an incredible upside boom in the first five months of 2021, rising more than 15,000% amid a retail-led frenzy. In May 2021, Dogecoin rose to $0.76; its highest price ever against its $0.009 price in 2019.

Oh, okay. Dogecoin has been really stagnant lately. While many believe it’s the best time to buy the dip and HODL, some think the coin has lost its prospect. As an investor, we advise that you carry out your personal research before making your investment decision.

Why You Should Invest in Shiba Inu

On the other hand, is Shiba Inu. A coin launched in 2020 and named after the dog breed, is a cryptocurrency that trades as SHIB and champions itself as the “Dogecoin killer.”

A single SHIB coin is worth $0.00005959 as of today. The once worthless shit coin, Shiba Inu (SHIB) started off as $0.000000000056. Even if you bought $50 worth, your ROI would have been reasonable massive by now.

So, instead of watching Shiba Inu’s rapid rise and wondering, “is it too late to buy in,” why not buy any amount your pocket can afford 0f it and watch, though it may not make you rich immediately, consider it a long time investment. This, moreover, is going to be far more fun than sitting on the sidelines.

Ask any experienced investor about their philosophy; they will respond with some version of four investment pillars:

(1) high-quality/growth assets with (2) good risk-adjusted return potential bought for (3) a reasonable price and (4) held for the long term.

You have to be able to hold for a long time, to enjoy the wealth of cryptocurrencies, Yes!

A caveat: Nobody should force investment on you if you believe crypto is not your thing, don’t feel left out.

However, if you believe in cryptocurrency, do your thorough research before investing in any of them.  Moreso, invest with money you can afford to lose. Namaste!

Meanwhile, you might want to check out the 9 Best Cryptocurrencies You Should Invest In Today.