Is Shiba Inu (SHIB) a Good Investment? The Dogecoin Killer Rose 7,000,000% in 2021 to Become the Next Big Meme Coin

The Shiba Inu (SHIB) rose up 7,000,000% in 2021 to become the “Dogecoin killer.” The Shiba Inu price prediction lured in investors from around the world

The Shiba Inu (SHIB) had a stellar 2021, registering gains of 7,000,000% to become the “Dogecoin killer.” The Shiba Inu price prediction enticed investors worldwide with the possibility of SHIB surpassing Dogecoin and claiming the top spot among meme coins. It had a good story. Its presence on more than 110 exchanges and over 212 trading pairs provided unmatched access. However, today, the narrative has shifted.

Despite its strong community, the Shiba Inu price is more than 80% below its all-time high. The token, despite its popularity, struggles to regain the explosive momentum of 2021. Now, as investors prepare for what could be another bull run, the crucial question arises again: Is Shiba Inu a good investment?

DOGE Gains ETF Momentum, SHIB Lags Behind

In this emerging bull market, crypto ETFs are a key storyline. Bitcoin and Ethereum have already secured approvals, and now the focus is on altcoins. Dogecoin is at the forefront, with ETF filings from major firms like Grayscale, Bitwise, and 21Shares. Notably, Grayscale’s Dogecoin ETF is expected to receive a decision by May 21.

However, SHIB is yet to enter the ETF race. Despite the enthusiastic community and efforts from Shiba Inu’s marketing head, Lucie, to promote the token, no official ETF filing for Shiba Inu is in sight. Though Lucie highlighted SHIB’s accessibility and global adoption, these strengths haven’t yet enticed regulators.

The lack of institutional interest might be impacting Shiba Inu price resistance. Without ETF-driven enthusiasm, SHIB has struggled to pierce through crucial Shiba Inu price resistance levels. These levels act as formidable barriers, hindering any sustained price breakout.

Open Interest Highlights Dogecoin’s Edge

Investor sentiment also showcases a clear divergence. According to CoinGlass, Dogecoin’s open interest has soared to over $1.5 billion, compared to Shiba Inu’s $131 million. This stark contrast highlights a wider market preference for DOGE and indicates stronger backing from large investors.

As a result, SHIB faces an uphill battle. While the Shiba Inu price today shows signs of consolidation, the lack of ETF buzz and low trading interest make any upward momentum difficult to sustain. Technically, Shiba Inu price resistance continues to limit upward movement, while stronger tokens like Dogecoin are taking the spotlight.

Shiba Inu’s Path Forward

So, is Shiba Inu a good investment? The answer depends on what investors are seeking. While short-term traders might be disappointed by current price action and the lack of immediate institutional interest, long-term holders remain optimistic. The Shiba Inu ecosystem continues to expand, with DeFi utilities, NFTs, and community-driven projects adding potential value to the token.

But to break free from its current range, SHIB must overcome the Shiba Inu price resistance levels that have stalled its recovery. Analysts suggest that a breakout above key levels, particularly around $0.00003, could trigger a return of interest. Until then, the token remains in a holding pattern.

The Shiba Inu price prediction remains cautiously optimistic. If the meme coin narrative reignites, and if SHIB manages to secure some institutional attention—perhaps through an ETF filing or increased involvement from major firms—it could spark a return to bullish territory. For now, investors will continue to monitor the Shiba Inu price today, hoping for signs of momentum.