SHIB coin: Should you invest in Shiba Inu coin now?

There’s a lot of talk about cryptocurrencies like Dogecoin and Shiba Inu coin. There are success stories, but there are a number of scams out there, too. So should you invest in the coins? Experts want you to remain cautious and do your research first.

Should you invest in SHIB coin?

Ben Weiss, CEO of CoinFlip, said that Shiba Inu coin has a chance to rise because of the recent social media hype. But the rise might not last long.

  • “(Shiba Inu’s) price could certainly go higher, but it could just as easily come down, bringing many investors with it,” he told U.S. News and World Report.

Marie Tatibouet, chief marketing officer with Gate Technology, told U.S. News and World Report that research is key before you invest in anything. You shouldn’t invest on a whim.

  • “Thorough research is a must if you’re looking at investing in any cryptocurrency,” Tatibouet says. “Investing on a whim has ended in tears for many.”

Weiss agreed. He told U.S. News and World Report that you shouldn’t dive into these coins with the sole purpose of getting rich quick.

  • “Don’t invest to get rich quickly; invest in things you believe will be successful in the long run,” Weiss told U.S News and World Report. “There’s a saying in the stock market, and from what I’ve seen it certainly translates to crypto: ‘Time in the market beats timing the market.’”

SHIB coin is a social win, experts say

Ben Caselin, head of research and strategy at cryptocurrency exchange AAX, told Fortune that SHIB coin isn’t about making money — it’s a sign that there is a new wave of investors.

  • “Rather than simply dismissing the hype outright, it’s important to realize that what we’re seeing is the mass movement of traders new to crypto moving into the space,” he told Fortune.
  • “The hype around meme coins such as Shiba … is not a financial, but a social phenomenon,” Caselin told Fortune.