![]() Smaller “pupcoins,” like Floki Inu, still stand to make such epic runs higher. Now with a market capitalization in the tens of billions ($28.4 billion to be exact), this token’s chances of doubling, much less rally ten-fold, have diminished. The main reason? You know how with DOGE-USD, after its run-up to a market capitalization in the tens of billions, it no longer has so much “get rich” potential? The same can be said here with Shiba Inu. Like DOGE-USD, SHIB-USD may also have slim chances of getting back to its high-water mark. When I compared it above to Dogecoin above, I was doing so in more ways than one. Or, for that matter, maintain a position, ahead of it making a full recovery. However, I wouldn’t take this as a sign you should initiate a position. With several factors still on the table, there may not be an urgent need to bail out of Shiba Inu. If this token’s developers continue to put in the work, further utility advancements, and increased usage, could help bolster its price.Ĭashing Out/Avoiding Remains the Best Move ![]() In fact, despite its reputation as a knockoff of Dogecoin, Shiba is actually somewhat advanced in this area, given last summer’s launch of the ShibaSwap DeFi platform. While it may not be happening anytime soon, in time it could happen, like it did for Dogecoin.Īlong with wider access, increased utility remains a catalyst as well. What catalysts am I talking about? For starters, the possibility is still there for SHIB-USD to begin trading on popular crypto platforms operated by Coinbase Global (NASDAQ: COIN), Kraken and Robinhood Markets (NASDAQ: HOOD). But they may be sufficient to either mitigate, or at least slow down, additional losses. These are likely not strong enough to push it back to, or above, its past high. Why? There are several catalysts still in play. Instead, it’ll likely hold onto the bulk of its recent gains. However, I wouldn’t conflate the phrase “starting to deflate” with “starting to collapse in price.” That is, Shiba Inu may move lower from here, yet I don’t see it experiencing a tremendous decline. So is Floki Inu (CCC: FLOKI-USD), a smaller name that’s been riding Shiba’s coattails, and has its own plan in the works to become the most valuable dog-themed crypto out there. The pupcoin bubble is starting to deflate. Marketing materials: Firms may overstate the returns of products or understate the risks involved.Shiba Inu Could Retain Most of its ‘Pupcoin Bubble’ Gains.Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.Converting a cryptoasset back to cash depends on demand and supply existing in the market. There is no guarantee that cryptoassets can be converted back into cash. Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. ![]() Investing in any cryptocurrency is risky - here we round up what you need to know. ![]() What are the risks of investing in crypto? ![]()
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