Cryptocurrency Predictions

5 Reasons Why Shiba Inu is the Perfect Currency to Invest in Jan 2022

5 Reasons Why Shiba Inu is the Perfect Currency to Invest in Jan 2022
5 Reasons Why Shiba Inu is the Perfect Currency to Invest in Jan 2022

We want you to verify these statements without Googling in reference to Shiba INU

Backstreet Boys love Japanese hunting dogs.

and

You can mint Shiba Inu and breed it.

Actually, both these statements are half-truths, but they are not meant to mislead you.

In reality, one of the Backstreet Boys – the most handsome one, of course, Nick Carter – owns Shiba Inu, which literally translates to Japanese hunting dogs. And, in fact, you have the option to get hold of 7,777 Shiba Inu Dog NFTs through a deal available on their website.

Apart from these fun facts, there is a lot of ‘serious’ information that you might not have any idea about. So, before you invest your hard-earned cash in Shiba Inu, we would like you to have clarity about all the ‘iffy’ information that might be driving the value of the coin up and down. And, don’t worry, the information here is verified. 

Shiba Inu can Knockout Dogecoin because of its Smart Contracts

SHIB is a token based on Ethereum Blockchain and comes with smart contract capabilities. However, the same functionality is not available on Dogecoin as it has limited on-chain features because it is similar to Bitcoin.

(Tech Knowledge: Bitcoin network has an average block creation time of 10 minutes compared to Ethereum’s 12 to 14 seconds. Smart contracts on Bitcoin are useless because of the long creation time.)

Due to smart contract capabilities, Shiba Inu is in a better position to overtake Dogecoin.

Compatible with DeFi Products

Smart contracts make Shiba Inu ideally suited for DeFi products that are in high demand.

DeFi products like Aave Aave allow for the lending and borrowing of a wide range of cryptocurrencies. As DeFi platform is only going to grow in the future, the possibilities for Shiba Inu to grow are endless.

No One Knows about the Founder of Shiba Inu

Although SHIB does not have the weakness of Bitcoin (a lack of quality smart contracts), it does have something very similar to the pioneering currency – its anonymous founder.

Just like we have no idea about who Satoshi Nakamoto is, similarly no one has any idea about ‘Ryoshi’ – the founder of SHIB. The only concrete information that we have is that they are definitely dog lovers. So, the mystery around Shiba Inu’s founder is a matter of intrigue. It is also a great omen (similarity with Bitcoin) for those who believe in them.

Powered by Elon Musk’s Tweet

A strange thing about today’s tech-heavy world is that tech gurus and prominent personalities hold enormous power when it comes to deciding the fate of cryptocurrencies. And there is no bigger tech guru than Elon Musk, who has the power to influence both retail buyers and mega investors.

Just a single tweet by Elon Musk boosted SHIB by 55 percent and took it to $0.00001312 in just 24 hours. 

When someone as big as Elon Musk opens his mouth, you need to take notice.

Three Token System

Shiba Inu comprises Bone, Shiba Inu, and Leash. These three tokens ensure that companies maximize their user base.

How does that happen?

A Multi-token system provides more flexibility as it allows users to access your currency directly through their debit/credit card instead of using crypto exchanges and wallets. This is just one of the few advantages of a multi-token system, and Shiba Inu is best positioned to implement it in the future. Therefore, it has enormous untapped potential for the future compared with other cryptocurrencies.

Conclusion

Shiba Inu has enormous prospects, but people are buying it for the wrong reasons. Therefore, we recommend that you understand its strong points, develop an investment strategy based on your principles, and start investing your money. 

Whether you believe in omens, celebrity power, or technicalities, there are ample reasons to support SHIB. But you need to first convince your mind.

Also Read:

Australian Open NFTs will Make you Feel Like a Winner without Even Playing

Top Cryptocurrencies of January 2022 that Will Rise Like Phoenix

Is Bitcoin Price Drop a Sign of Better Things to Come?

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Any references including blog post and web stories on this website are an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. AnalyticsLord.com can't be held liable for any financial loss.
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