Is Volatile Shiba Inu (SHIB) Ripe for Investment?
Timothy St. John • 2 min read
Cryptocurrency token Shiba Inu (SHIB) has been incredibly active over the last week. Its current price is $0.000009189 (SHIB/USD), up just 1.22% from yesterday at this time, but the price has varied from $0.000008844 to $0.000009935, with these highs and lows often occurring with a day or two of one another. This erratic movement makes for a very active crypto, but does that mean Shiba Inu is a good short-term investment?
Shiba Inu at a Glance
Short term trends need to be looked at in the context of longer trends for a given coin. In the case of SHIB, the longer outlook, at 30 days, for example, is a case of a bear trend at first and then a flattening out. Like most crypto tokens, Shiba Inu took a dive early in November and is still trying to recover.
Over the last three months, Shiba Inu has performed much better. That crash still gives the coin an overall negative performance for that period, but it was actually much higher by the end of October than it was through any of September.
While Shiba Inu may have trouble making a full recovery anytime soon, there is a lot of action occurring on the short-term level, and that is worth considering for investors who are not prepared to wait out long-term payouts.
Is It Time to Invest?
Shiba Inu could be a really interesting investment for day traders as well as those who want to see a return on their investment within a matter of a few days or weeks. Trade volume is up about 13% right now, and this active coin is seeing more than $150 million in daily trades right now. With all that money being thrown around, Shiba Inu could quickly change course, and it does.
We would caution against a major investment with this coin. Like any cryptocurrency coin, it is not future proof and the market it operates within is incredibly volatile. However, those getting in on the coin right now will see plenty of movement and could potentially earn a tidy profit in a short amount of time. We urge cautious investment and recommend traders keep a very close eye on the coin’s movements, as it tends to change rapidly.