Johnny Lyu, the CEO of the world's third-largest cryptocurrency exchange, KuCoin, recently explained why the Shiba Inu cryptocurrency is a good long-term investment. Despite its volatile and high-risk nature, experts believe that the long-term potential of Shiba Inu is worth considering. Investing in cryptocurrencies that offer real utility and competitive advantages is a better strategy than relying on short-term investments like Shiba Inu. Although there is no guarantee that these investments will survive for decades, they have real advantages over trendy cryptocurrencies such as Shiba Inu.
Shiba Inu Coin calls itself an experiment in decentralised spontaneous community building. It operates on a decentralised computer network that runs a database called blockchain. The price of Shiba Inu has been rising rapidly since its launch in May, but this alone does not make it a good investment. The explosive growth of Shiba Inu is due to its supporters artificially inflating its price, rather than the strength of the cryptocurrency itself.
Shiba Inu has other aspects of a community, including ShibaSwap, its own decentralised platform for coin trading, and Shiboshis, a type of non-fungible token (NFT). The price of Shiba Inu has cooled recently, but this does not mean that it is not worth investing in. People invest at their own risk and cryptocurrencies are not regulated by the UK financial authorities. By keeping a long-term perspective and choosing the right investments, you can gradually build a solid portfolio worth hundreds of thousands of dollars or more.
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