Note that at least once a week, readers see news online about the “dog” cryptocurrencies Shiba Inu and Dogecoin. Where American, Chinese, or Russian “experts” recommend buying or selling these meme currencies. But no one questions who these experts are and why they share valuable information so easily. After all, if any of us found a “gold mine,” we probably wouldn’t start shouting about it from every corner.
Shiba Inu and Dogecoin – Forecast for 2022
It’s best to start with the fact that these coins are artificially created by their owners. The lack of demand leads to Shiba Inu and Dogecoin being burned—that is, sent to a non-existent account number. And thus, they are destroyed. This is done to reduce the coin circulation. Creating a shortage. Which causes the coin price to rise.
And here arises a reasonable question – what is the point of buying these currencies if they are controlled by one or a couple of people? It is these owners who profit from jumps of a thousandth or a millionth of a dollar. And other holders suffer losses because buying or selling transactions must be paid to the exchange. And these transfers are many times more expensive than the profit.
The forecast for 2022 for Shiba Inu and Dogecoin is not hard to predict. There will always be those willing to get rich just like that, doing nothing. Reading online that someone made a fortune on these coins naturally creates a desire to repeat someone else’s success. Unfortunately, this is not even a lottery where 10% of tickets are winning. Here, the owner of the coins controls everything.
If you are already investing in cryptocurrency, it’s better to choose Bitcoin or Ether. Bitcoin’s market is managed by miners. And hundreds of meme currencies are created based on Ether. The dynamics, over the entire period of Bitcoin and Ether’s existence, show growth. Even with jumps. But growth. There has never been a time when a cryptocurrency’s fall went below its previous maximum decline.
