Everyone has made some kind of investment or is interested to know about cryptocurrency by now. Bitcoin is one of the biggest cryptocurrencies that exists. It helps people in making millions in the past decade. But are you thinking about which is the best cryptocurrency to invest in? Which currency and coin should you consider to invest and how to find one? Also in the past few years every crypto coin has had its hard and cold times. In this time Shiba Inu coin has had a great growing phase. We will tell you about Shiba Inu and whether it will reach 1$?
Finding the right cryptocurrency is a real struggle. Traders Union has made it easy for you by enlisting top trending cryptocurrencies. To provide you with the best options and accurate overview we use specific criteria to enlist. This includes:
- Complete assessment of technology and development of coin.
- Practical usage of cryptocurrency in the global economy.
- Fundamental analysis is created on the basis of demand.
- Performance of price over the last years is considered.
Binance coin: One of the best cryptocurrency.
It is the official Cryptocurrency of Binance network and on the top of the list according to a review of the Traders Union. Currently the value of the coin is at 310$ with the oscillator value of 56.19 and strength index of 62.34. Its value has increased over the past year from under 20$ to over 300$.
Some people choose cryptocurrencies for payment methods while some want to take advantage of digital currencies to get profit. Here are a few crypto strategies which you can follow to find and invest in the best cryptocurrency.
Buy and hold strategy:
This strategy is not only popular with people who are investing in cryptocurrencies but also for those who are investing in any kind of asset. This is a very old strategy usually followed by people who used to invest in gold. According to it you would buy gold or any other assets when its value is low in the market. And keep holding on it until its price increases in the market. That’s when you will sell it and get profit from it. In cryptocurrency the same strategy can provide you a lot of benefit. Here are few tips to make buy and hold strategy useful:
- Identify and make a list of cryptocurrencies that are increasing in the value.
- Make sure to buy the currency at the time when its price is low.
- After purchasing, hold onto digital assets and wait for the price to increase.
- Once your coin reaches its peak value, you can sell it and get a profit.
It is one of the other strategies to make your trade and investment experience successful. It is profitable. In this strategy you would choose a specific pair, say you choose BNB/ETH. You can get profit from trading in both of these. You can open or close the trade of buy and sell positions at any time.
What is Shiba Inu and will it reach to to 1$?
Shiba Inu coin is a decentralized cryptocurrency created as an experiment in 2020. It is running on the blockchain like the other cryptocurrencies. Considered as one of the safest and advanced because it was created on ETH blockchain. SHIB gets its popularity when people mistake it with Dogecoin because of the similar logos. And it has also taken over a few of the Dogecoin markets.
But the question is will shiba inu coin reach $1?
Many are predicting that Shiba inu can’t reach 1$ because of many reasons. Like to reach 1$ token price, shiba inu has to be worth 725 times the market cap of bitcoin. It means SHIB’s market cap should be 589.7 trillion dollars. It is 6.3 times the global gross domestic product. But reaching the number is virtually impossible for Shiba Inu. Therefore it is predicted that it will never reach 1$. It is also predicted that by the mid 2023 price of Shiba inu will reach $0.00002462 which can increase up to $0.00003016 by the end of 2023.