Why I purchased some Shiba Inu coin?

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(Edited)

Most of us are in this crypto world to increase our stake or holdings. There are many whales out there who want to double or triple their holdings with the help of crypto. I know for a fact that I was not a big fan of coins that are are not having any value. When I say value, not the actual value but a use case behind that. I'm usually against that and I also don't prefer purchasing NFTs that are not going to be creating any value for me. But now I decided to purchase Shiba Inu because of the FOMO and no great reasons behind it.

We all know how Doge had its place in this crypto world. Nobody would have expected Doge would reach a value like this. I once used to have a lot of Doge tokens that I received from airdrops and giveaways. I was thinking that Doge would never pump or will not have any value behind it and thus sold those coins for a quick profit. I even criticized and still criticize that Doge is just a coin with a dog on it.

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Someone told me about Shiba Inu and when they told me they were pretty excited about what Shiba was capable of. I was surprised and was not sure how to react. It was one of my friends and he asked me to do a small investment in that. I refused and later I decided to purchase it for 10$. Today I see that my 10 dollar investment has grown to 20 dollars. I now wish I had invested a little more. But yeah investing in something that has very little use case is a big risk.

Today there is a big FOMO going around and people are still very curious to purchase Shiba Inu coins. I decided and purchased it for 100$. I have no intention of selling the coin sooner or later. I going to be really patient and see how far the price can go. Some people are saying that the coin can easily reach 1 dollar. I don't believe it but even if it reaches 10 cents, I would be happy to sell what I bought and book a huge profit.

I have wasted lots of money on a few projects. So there is no harm in trying out something with a small amount of investment. Shiba gets added up as a token to my portfolio and let's see how it goes in the next 5 years. This is not financial advice and invests at your own risk. I'm saying this because even I'm not sure if this investment is a good investment or not. I just wanted to give it a try and that's all.

Currently, I'm having my tokens inside Binance. There is a facility inside binance to stake the tokens and receive a passive income from that. I have done that for my few other coins as well. That's why I wanted to stake my Shiba Inu coin as well. Some sort of income is better than not having anything right. That's the main intention.

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My $200 buy in a couple months back is showing nice signs of growth.

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I can't bring myself to buy into meme coins but I wish you the best of luck. It does make sense that you would want to stake the coins and get some return on it to offset a bit of the losses (just incase).

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Since I discovered about this binance staking,I have been staking steady because is better to multiple your coin through staking down to keep it in a wallet to increase.

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It is possible to stake coins at binance too? I never knew

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Yes, it is possible. There is an option called Earn on finance that can be used for staking. They give a decent APR for some of the coins.

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Can you name one or two? Thanks in advance.

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I don't know what to expect from projects like Shiba Inu and Dogecoin. Maybe you are good at buying. I will proceed to purchase in the next few days. If I understand correctly they are two POW projects and I think the future is not of the POW blockchains

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Yeah, I absolutely have no idea what they are capable of. We know Doge coin pumped all because of Elon Musk. I missed that train and don't want to miss another train and that's why entering with a small investment.

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Shiba Inu has some utility too. As of now they have NFTs and soon they will have a game where you can use the NFTs.

And eventually Shiba Inu will have its own L2 Blockchain which will hopefully reduce the gas fees on the Shibaswap.

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That's nice. Let's see how far it goes. Even if it reaches 1 cent, it will end up as a great investment.

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