The cryptocurrency market can occasionally resemble a puppy mill,with new coins generating a lot of initial excitement. 

Take the Shiba Inu, for instance. The cryptocurrency token is namedafter the dog breed that also serves as the mascot for Dogecoin, acryptocurrency that began as a joke but has since grown in popularity among the "meme" culture. 

Shiba Inu (SHIB), which is less than a year old, has a marketvaluation of more than $3.8 billion as of early June 2021, making it the 31stmost valuable cryptocurrency by market capitalization, according to CoinMarketCap. Shiba Inu is a little dog in another sense. Each token has a value of $0.000009677. This makes it appealing to inexperienced cryptocurrency investors, especially because well-known options like Bitcoin cost more than $38,000 per token. 

However, just because something is popular does not necessarilyimply that it is a wise investment. Before investing in the bitcoin market,experts advise conducting extensive study. 

What is Shiba Inu Coin? 

Shiba Inu is a cryptocurrency that runs on the Ethereum platform."Ryoshi," the coin's enigmatic creator, describes the initiative as"an experiment in decentralised spontaneous community creation." 

While there is no finite amount of Dogecoin units, there is a cap onShiba Inu units — albeit a stratospheric total supply of 1 quadrillion. ShibaInu and Dogecoin, like other meme investments, have appreciated in value as investors debate their merits online and elsewhere. The Shiba Inu white paper, called the "woof paper" by its designers, identifies leaders of international chatrooms, social media influencers, and meme producers as members of the Shiba Inu community. 

What are Shiba Inu Coin's advantages? 

Shiba Inu's attraction stems from the desire for passive income fromstaking and the fear of missing out on the Dogecoin gold rush, in addition tothe hype from influencers. 

According to Marie Tatibouet, chief marketing officer at GateTechnology, the ripple effect from Dogecoin's price rise has aided other memetokens, including Shiba Inu, offering the potential for short-term benefits. 

Another advantage could be philosophical. "Many consider memetokens like Dogecoin and Shiba Inu as nothing more than a joke," Tatibouetsays, "yet it has worked as a first step for many crypto novices, who are likely to invest in other projects." "As a result, the wider crypto industry is expected to witness continued expansion and interest in the long run." 

What are the Shiba Inu Coin risks? 

It's crucial to note that cryptocurrencies are a dangerous assetclass in and of itself, and speculative altcoins like Shiba Inu tend to carryeven more risk within that market class. Only investors with a high-risk tolerance should think about it. 

"Cryptocurrencies, and digital assets in general, are stillvery much in their infancy," explains Jahon Jamali, chief marketingofficer of Sarson Funds. "There will be more losers than winners with any emerging technology," says the author.