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8 months ago

Crypto Exchange Leader Touts Shiba

Benzinga
Benzinga
The Shiba Inu token is a meme-based cryptocurrency marked by tiny ebbs and flows, making it the perfect breeding ground for pump and dump selling. At times, this has caused analysts to call this currency a high-risk, volatile asset. However, Johnny Lyu, CEO of KuCoin, the world’s third-largest exchange, believes that Shiba Inu can be a good long-term investment. He believes that Shiba represents an interest in crypto from younger investors, making it more stable over the longterm. He said, “seeing Bitcoin’s rise, some younger investors without a lot of money want to profit from crypto as well. But, you’d need over $60,000 to buy one Bitcoin. So, they turn to Dogecoin and SHIB, where you can buy tons using just $100. He also believes that, “these investors are very passionate about such tokens and are determined to push the prices higher.” On the flip side of this argument are financial planners who would still be cautious. The Financial Conduct Authority issued a statement saying, in part, “Investing in crypto assets, or investment and lending linked to them, generally involves taking very high risks with investor’s money.” The FCA statement went on to say, “If consumers invest in these types of products, they should be prepared to lose all their money.”

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