Is it still worthwhile to invest in the altcoin craze, Shiba Inu?

Shiba Inu (SHIB), Dogecoin’s main competitor by market capitalization, is without a doubt one of the most successful meme tokens on the cryptocurrency market. Is it still worthwhile to have faith in the cryptocurrency that made many investors wealthy in 2021?

In fact, Shiba Inu has numerous advantages over its competitor, Dogecoin. The newest altcoin is supported by an entire ecosystem, not just the face of a cute Japanese dog. What are the advantages and disadvantages of investing in the 2020 token?

Shiba Inu’s Advantages
Indeed, the Shiba Inu ecosystem has made a name for itself in the blockchain world, with terms like DeFi (decentralized finance), NFT (non-fungible tokens), and metaverse.

ShibaSwap, the altcoin’s DEX, was launched in 2021 to mark its entry into DeFi. The decentralized exchange allows its users to earn money through liquidity provision, staking, and token exchanges.

Shiba Inu launched Shiboshi, its NFT collection, in 2021. The NFTs are used in the Shiboshi Game to allow holders to play with unique features like Laser Eyes.

Shib: In 2022, the Metaverse debuted. The metaverse will have 100,595 lands, according to the initial post. With this land modality, the virtual reality of the token meme ecosystem follows in the footsteps of market leaders such as Decentraland and Sandbox.

Certainly, the presence of the altcoin on those markets can be a great option for those who want to see SHIB as more than a meme.

What about the disadvantages?
A more realistic view of the token on the Ethereum (ETH) network reveals that the previously mentioned factors had little impact on the SHIB price. Even during times of market speculation, when bets revolved around dog-themed cryptocurrencies, the altcoin grew.

Betting on the Shiba Inu breaking its historic high when the market returns may not be the best option for the investor. Even token burnings to remove SHIB from circulation had no effect. The supply of altcoins remains abundant.

Even if the cryptocurrency market is in decline, Shiba Inu, despite its differences, is still regarded as a meme token. This factor makes it difficult for the altcoin to grow outside of a favorable market that is uninterested in fun tokens.

Furthermore, it should be noted that the bear market can last for several months, and meme tokens are preferred by sellers during this period of low liquidity. Shiba Inu should not be excluded from this list.