幾年前，投資者對投資者的表現不可能更好

從2021年初到當年10月下旬的歷史最高點，這項數字資產絕對飛漲。肯定有一些非常幸運的投機者

In 2021, meme token Shiba Inu (CRYPTO:SHIB) was booming. It’s no secret that the cryptocurrency market was a hot topic throughout the pandemic era. With government-mandated lockdowns putting a dampener on social activities, people turned to the internet for entertainment.

在2021年，Meme令牌INU（加密：Shib）蓬勃發展。在整個流行時代，加密貨幣市場是一個熱門話題，這已經不是什麼秘密了。隨著政府批准的鎖定，使人們對社交活動進行了阻尼術，人們轉向互聯網進行娛樂。

This led to a surge in meme stocks and meme tokens. For instance, retail traders helped drive up the price of Peloton (NASDAQ: PTON) stock to an all-time high of $160 in January 2021. But by the time the Omicron variant hit in December of that year, the stock price had crashed to $38.

這導致了模因股票和模因令牌激增。例如，零售商交易者幫助將Peloton（NASDAQ：PTON）股票的價格提高到2021年1月的歷史最高點160美元。但是，到當年12月的Omicron變體中，股價已跌至38美元。

In the crypto world, meme tokens like Shiba Inu were also a hit with speculators. From the start of 2021 to its peak in late October of that year, this digital asset went up about 27,000%.

在加密貨幣世界中，像志伊·伊努（Shiba Inu）這樣的模因令牌也受到投機者的歡迎。從2021年初到當年10月下旬的峰值，該數字資產上漲了約27,000％。

However, it’s been a different story since then. While the overall crypto market has held up well, despite the volatility, Shiba Inu has a lot of work to do to catch up to its former glory.

但是，從那以後，這是一個不同的故事。儘管總體加密市場表現良好，儘管動盪不安，但志拜伊努（Shiba Inu）仍在做很多工作要做的事情來趕上其以前的榮耀。

As of May 20, this meme token trades at $0.00001428, which is 84% below its peak from about three and a half years ago. Is it time to buy the dip with Shiba Inu? I think investors should look at both sides of the argument to gain a more thorough understanding.

截至5月20日，此模因令牌的交易價格為0.00001428美元，比大約三年半前的高峰低84％。是時候用Shiba Inu購買蘸醬了嗎？我認為投資者應該研究論點的兩面，以獲得更徹底的理解。

Image source: Getty Images.

圖像來源：蓋蒂圖像。

Hoping for a quick profit

希望快速獲利

As of this writing, Shiba Inu carries a market cap of $8.4 billion. This makes it the 16th largest cryptocurrency on Earth. This is a higher value than companies like Etsy (NASDAQ: ETSY) and Peloton.

截至撰寫本文時，Shiba Inu的市值為84億美元。這使其成為地球上第16大加密貨幣。這是比Etsy（Nasdaq：Etsy）和Peloton等公司更高的價值。

A market cap of $8.4 billion is not easily achieved by any asset. For instance, if you were to add up the entire cryptocurrency market cap in January 2017, it would still be less than the market cap of Apple (NASDAQ: AAPL) today.

任何資產都不容易實現84億美元的市值。例如，如果您要在2017年1月加大整個加密貨幣市值，那麼今天它仍然小於蘋果的市值（NASDAQ：AAPL）。

This fact alone highlights how strong the community support is for Shiba Inu. These supporters, known as the “Shib Army,” help to drive interest in the token online. Speculators understand that the community can lead to various hype cycles. And if the timing is correct, there’s a chance to achieve huge profits in a short period of time.

僅此事實就凸顯了社區對Shiba INU的支持。這些支持者，被稱為“ Shib Army”，有助於引起對在線令牌的興趣。投機者知道，社區可以導致各種炒作週期。而且，如果時機正確，則有機會在短時間內獲得巨額利潤。

Shiba Inu can be viewed as a “Dogecoin killer.” That’s because it’s built to be compatible with the Ethereum network. This means that Shiba Inu has greater functionality than its dog-themed predecessor. Tokens can be used in decentralized exchanges, to trade non-fungible tokens, or within decentralized finance protocols. In theory, this raises utility.

Shiba Inu可以看作是“狗狗殺手”。那是因為它構建為與以太坊網絡兼容。這意味著Shiba Inu的功能比其以狗為主題的前身更大。代幣可以用於分散交易所，交易非遺化令牌或分散的財務方案中。從理論上講，這提高了效用。

What’s more, Shiba Inu’s developers are trying to increase adoption with various features. Shibarium, a layer-2 scaling solution, was introduced to speed up transactions and lower costs. A dedicated metaverse was also launched in December last year that allows users to interact in a virtual world. This might draw some excitement toward Shiba Inu.

更重要的是，Shiba Inu的開發人員試圖通過各種功能來增加採用。引入了Shibarium，這是一種層次縮放解決方案，以加快交易和降低成本。去年12月，還啟動了專用的元評估，使用戶可以在虛擬世界中進行互動。這可能會引起人們對Shiba Inu的興奮。

Adding unnecessary risk to your portfolio

為您的投資組合增加不必要的風險

According to venture firm Electric Capital, Shiba Inu isn’t even on the list of top 100 cryptocurrencies when it comes to the number of developers actively working on it. This doesn’t bode well for its future, especially if you believe, like I do, that a cryptocurrency’s ultimate viability comes down to how much real-world utility it can introduce. This puts Shiba Inu at a major disadvantage.

根據風險投資公司的說法，在積極從事它的開發人員數量方面，Shiba INU甚至不在前100名加密貨幣的名單中。這對於它的未來並不好，尤其是如果您像我一樣相信加密貨幣的最終生存能力取決於它可以介紹多少現實世界的實用性。這使Shiba Inu處於主要劣勢。

The tokenomics also leave much to be desired. There are currently 589 trillion Shiba Inu tokens in circulation. That intentionally high supply base is the opposite setup of the scarcity Bitcoin possesses, for instance. This makes it all the more difficult for Shiba Inu’s price to steadily rise over time.

令牌學也有很多不足之處。目前有589萬億什巴INU令牌的流通。例如，有意高的供應基礎是稀缺比特幣所擁有的相反的設置。這使得什巴·伊努（Shiba Inu）的價格隨著時間的流逝而穩步上升變得更加困難。

There is a coin-burning mechanism in place to reduce supply. On May 19, though, only 49 million coins were burned. That’s not going to put a meaningful dent in the supply anytime soon, as it would take more than 16,000 years to burn half of the outstanding supply.

有一種燃燒硬幣的機制來減少供應。但是，5月19日，只有4900萬枚硬幣被燒毀。這不會很快在供應中造成有意義的凹痕，因為燃燒一半的未償還供應將需要超過16，000年的時間。

The fact that anyone can create a new token out of thin air poses a key risk for Shiba Inu, which is competition. The cryptocurrency industry remains the newest asset class out there. Consequently, it’s still characterized by unhealthy amounts of speculation among market participants. There’s no shortage of tokens to bet on in the hopes of getting rich quick. This increases the chances that people will move away from Shiba Inu one day onto the newly released shiny token.

任何人都可以創建一個新的令牌的事實，這是競爭的志ba INU的關鍵風險。加密貨幣行業仍然是那裡最新的資產類別。因此，它仍然以市場參與者之間的猜測不健康。不乏代幣的賭注，希望能迅速致富。這增加了人們有一天會從Shiba Inu轉移到新發布的Shiny代幣的機會。

For long-term investors who want to own high-quality assets, there’s really no reason to own Shiba Inu. The bear case for the meme token is much more compelling than the bullish argument. Even though the cryptocurrency is trading well off its peak, investors should avoid Shiba Inu.

對於想要擁有高質量資產的長期投資者而言，確實沒有理由擁有Shiba Inu。模因令牌的熊案比看漲的論點更具吸引力。即使加密貨幣的交易遠遠超過了其頂峰，投資者也應避免志願射擊。