Early Bitcoin adopter Davinci Jeremie recommends investing in Shiba Inu (SHIB), citing potential returns and favorable attributes, including its low price and deflationary nature.
Key Takeaways
- Early Bitcoin adopter Davinci Jeremie suggests investing in Shiba Inu (SHIB).
- Davinci maintains an active token portfolio and believes in SHIB’s potential.
- Shiba Inu, despite its low price, exhibits strong growth potential.
- The introduction of Shibarium and deflationary features contribute to SHIB’s positive outlook.
Davinci Jeremie, an early Bitcoin (BTC) adopter with a decade of experience in the cryptocurrency market, has recently recommended Shiba Inu (SHIB) as a promising investment option for crypto enthusiasts.
Shiba Inu Has Good Fundamentals
Davinci’s endorsement of Shiba Inu bears a resemblance to his early support for Bitcoin back in 2013 when he advised investors to purchase even just $1 worth of BTC, believing it could be life-changing. His endorsement for SHIB, expressed earlier this year, was succinct: “Umm SHIB,” in response to an investor’s inquiry about where to invest their USDT.
Although Davinci didn’t elaborate on his specific reasons for recommending Shiba Inu, the cryptocurrency’s attributes make it an attractive choice for retail traders. Shiba Inu has a history of delivering substantial returns to investors, and it currently trades at a very low price of $0.000007542, despite its massive circulating supply of 589.3 trillion SHIB. Despite its low price, SHIB exhibits high volatility and has surged 4.47% in value today, with a trading volume of $246 million, marking an 86% increase.
With a market capitalization of $4.45 billion, Shiba Inu holds significant potential for long-term growth. Although it is currently down 91% from its all-time high (ATH) of $0.00008845, which was achieved two years ago, a return to this ATH level would result in a substantial return on investment.
Shiba Inu boasts strong fundamentals, making it an appealing choice for both retail and whale investors. The upcoming introduction of Shibarium, a Layer-2 scaling solution, is expected to foster the development of decentralized applications within the SHIB ecosystem, enhancing its utility and contributing to potential price appreciation. Davinci himself acknowledged in August that there were “big things happening for SHIB.”
Furthermore, SHIB’s deflationary mechanism, coupled with increasing demand, raises the possibility of SHIB reaching the $0.01 price level in the future, further enhancing its appeal as an investment opportunity.
To Conclude
Davinci Jeremie’s endorsement of Shiba Inu adds to the growing interest in this cryptocurrency. While the exact reasons for his recommendation remain somewhat cryptic, SHIB’s historical performance, coupled with upcoming innovations like Shibarium and its deflationary nature, position it as an intriguing option for investors looking to diversify their crypto portfolios. As always, investors should conduct thorough research and consider their risk tolerance before making any investment decisions.
