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Why I haven’t and won’t invest in Shiba Inu
Shiba Inu has propelled itself to the #9 ranking in the crypto space. This is an amazing feat minting millionaires and instant success among many new crypto investors. And while Shiba can continue its parabolic run, is it going to have staying power like its meme competitor, Doge, or will it suffer a wild unraveling illustrating that the ‘Great Fool Theory’ is alive and kicking?
I haven’t invested in Shiba Inu and am happy for any investors/speculators/gamblers who have found success buying and trading Shiba. More money flowing into the crypto market is important and getting people into the space is a net positive. Shiba has gotten Coinbase to the #1 ranking in the Apple app store and the #4 spot in the Google Play app store.
And while my opinion may be completely wrong and I miss an opportunity of a lifetime, I am ok with the consequences. This article may be unpopular and, based upon other articles I see on Medium, I may be in the minority. I am fine with that and am sharing my thoughts and opinions here.
Reason #1-How Much More Can It Grow?
Currently, SHIB sports nearly a $42 billion market cap. Between SHIB and DOGE, the two projects control about 89% of the total meme crypto market cap. With the entire meme category controlling just under $89 billion (at the time of writing) in total…
