I’ve been doing a lot of thinking and reading about the chances of Shib reaching 1 cent. I have seen articles talking about there’s a chance for Shib to hit $1.00, and I have heard YouTube personalities say the coin can’t reach as little as .01!
I invested in Doge when it was around .08, and I recall people saying the same thing about Dogecoin reaching the milestones it crushed. There were a few things that had to happen before Doge could hit its milestones. If Shib is going to have a chance at reaching .01, it will need to gain support in more exchanges! Those exchanges played a vital part in Dogecoin’s growth.
Without the listing in Etoro, Coinbase, Robinhood, and Webull, Shib is looking at an uphill battle. Until those exchanges allow Shib to be traded on their platforms, we are not going to see mass movement. Thusfore, it will be hard to see the real potential of the token.
While swaps are a great way for people to get tokens they wouldn’t be able to get on exchanges like Coinbase, the process isn’t ideal. Most of us who have traded stocks for years like the buy it and forget it method. It is much easier to have money in an account and just hit the buy button, and the order is filled. The problem with swapping is that new crypto traders might not understand the process.
It could very well be a turn-off for someone having to send money to an account, buy Tether, turn around, and then trade it for another currency. This process might prevent new investors from going all in. It is the reason exchanges like Coinbase make a world of difference. With exchanges like Coinbase and Etoro, you link your account and post your money. After your money hits the account, you buy what you want to buy! It is simple! You only have to buy once, and you do not have to worry about swapping anything out.
So, your new investors are going to be more willing to buy on the larger platforms, which bring simplicity and security. One of the things that these platforms are going to use as a determining factor, in my opinion, will be the functionality of Shibaswap. In 8 days, if Shibaswap shows a gain to the people who are using it, I think we will see more open doors. However, if Shibaswap has a lot of issues and people talking about losing money, things will remain icy. The future of Shib could very well be determined by the performance of Shibaswap. If it is an all-out success, I wouldn’t be surprised to see Dogecoin movement.
As always I am not a financial advisor. If you would like to join Etoro use my link peeps! I get 50 bucks so I can buy me something! https://etoro.tw/3b0Klf1