Review on SHIBA INU by Douglas Cachazo
SHIBA INU (SHIB): Another meme coin but with a project
I always considered and still do that coins without any support based on a project and a development team that supports it ends up being a bubble in which some win and many lose when the bubble bursts, to the facts I refer, end up being speculative coins in which a small group with economic power are the beneficiaries with them, that far from being a contribution to the world of cryptocurrencies end up hurting it and are a magnet that attracts regulations.
The case of this Shiba coin seems to follow the same path of its sister Doge which has its fate almost sentenced by Mr. Musk, just a twi for the cryptocurrency to rise that fateful Saturday night, however unlike the Doge this coin has a project that supports it and a development team that was based on the Doge for it. And that is a point in favor, the big exchanges Binance is already ready with the warning that it is a high risk coin and the other giant Coinbase will accept it with the same warning.
The Shiba coin for better or worse has already gained ground, it is a pandora's box that its price will depend on the support it gets from Mr. Elon Musk, and that is the part I don't like.
The project bases its economy on the ERC20 token of the ethereum chain, and its purpose is to gain ground and displace the famous Doge meme, for this it relies on a growing work team.
I am more in favor of investing in good projects with serious and professional development teams. Those if they bring benefits to the crypto world with the queen Bitcoin and Ethereum at the head.
However for those who like risky investments and snobbery, they can take advantage to invest something. For the moment I consider it just another bubble, the only thing that can make me change my mind will be to see an aggressive effort from their work team with a clear work path that aim for the scalability of the project.
Pros
- High capitalization volume
- Accepted on many exchanges and growing
- Price with an upward trend
- Supported by a project and work team
Cons
- Could be another bubble.
- Lack of work plan of its work team.
New products
Comments (1)
May 12, 2021
I don't know Rick... I totally agree with you Mr. Douglas, it is not good to trust in these currencies that seem rather media and speculative. We must investigate more to avoid taking risks when investing and take this world of cryptocurrencies more seriously.
