It's very difficult to make right decisions with cryptocurrencies, as it seems like a box of chocalates (some Forest Gump ish there!).
When we never expected, Shiba Inu beat the market to grow significantly in the past few days. It was an impressive growth. With SHIB shining green, a lot of investors can at least smile home to the bank as according to IntoTheBlock, this recent move has seen some 20 trillion tokens in profit.
Image by Satheesh Sankaran from Pixabay
However, what is troubling is the same insight provided by IntoTheBlock themselves, if only 20 trillion of 497 trillion SHIBs (a from a quick Google search) were in profit following the recent market move, that means only 4.02% of tokens where in profit, and as today, according to IntoTheBlock, only about 12% of HODLers are at profit in its current price, leaving over 83% at loses.
Was the Investment Worth It?
I can't recommend any investment in which only about 10% would come out happy. For me, I think most crypto investments are worthless especially when these conditions are met:
- It is a shit coin (a bad sign)
- The shit coin remained a shit coin with no utility
- The coin is largely premine, no need for some sort of work (purchase only)
- The coin has large inflation rate (e.g. Hive has about 500 million tokens in circulation, while SHIB has over 400 trillion).
These are just some key signs. I am not saying SHIB is a bad investment in anyway, I am not also recommending it too. But whenever you see such investments, I think being weary and digging deeper would be a wise course.