几年前，投资者对投资者的表现不可能更好

从2021年初到当年10月下旬的历史最高点，这项数字资产绝对飞涨。肯定有一些非常幸运的投机者

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）蓬勃发展。在整个流行时代，加密货币市场是一个热门话题，这已经不是什么秘密了。随着政府批准的锁定，使人们对社交活动进行了阻尼术，人们转向互联网进行娱乐。

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.

这导致了模因股票和模因令牌激增。例如，零售商交易者帮助将Peloton（NASDAQ：PTON）股票的价格提高到2021年1月的历史最高点160美元。但是，到当年12月的Omicron变体中，股价已跌至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%.

在加密货币世界中，像志伊·伊努（Shiba Inu）这样的模因令牌也受到投机者的欢迎。从2021年初到当年10月下旬的峰值，该数字资产上涨了约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，从那以后，这是一个不同的故事。尽管总体加密市场表现良好，尽管动荡不安，但志拜伊努（Shiba Inu）仍在做很多工作要做的事情来赶上其以前的荣耀。

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，此模因令牌的交易价格为0.00001428美元，比大约三年半前的高峰低84％。是时候用Shiba Inu购买蘸酱了吗？我认为投资者应该研究论点的两面，以获得更彻底的理解。

Image source: Getty Images.

图像来源：盖蒂图像。

Hoping for a quick profit

希望快速获利

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.

截至撰写本文时，Shiba Inu的市值为84亿美元。这使其成为地球上第16大加密货币。这是比Etsy（Nasdaq：Etsy）和Peloton等公司更高的价值。

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.

任何资产都不容易实现84亿美元的市值。例如，如果您要在2017年1月加大整个加密货币市值，那么今天它仍然小于苹果的市值（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.

仅此事实就凸显了社区对Shiba INU的支持。这些支持者，被称为“ Shib Army”，有助于引起对在线令牌的兴趣。投机者知道，社区可以导致各种炒作周期。而且，如果时机正确，则有机会在短时间内获得巨额利润。

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“狗狗杀手”。那是因为它构建为与以太坊网络兼容。这意味着Shiba Inu的功能比其以狗为主题的前身更大。代币可以用于分散交易所，交易非遗化令牌或分散的财务方案中。从理论上讲，这提高了效用。

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的开发人员试图通过各种功能来增加采用。引入了Shibarium，这是一种层次缩放解决方案，以加快交易和降低成本。去年12月，还启动了专用的元评估，使用户可以在虚拟世界中进行互动。这可能会引起人们对Shiba Inu的兴奋。

Adding unnecessary risk to your portfolio

为您的投资组合增加不必要的风险

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.

根据风险投资公司的说法，在积极从事它的开发人员数量方面，Shiba INU甚至不在前100名加密货币的名单中。这对于它的未来并不好，尤其是如果您像我一样相信加密货币的最终生存能力取决于它可以介绍多少现实世界的实用性。这使Shiba Inu处于主要劣势。

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.

令牌学也有很多不足之处。目前有589万亿什巴INU令牌的流通。例如，有意高的供应基础是稀缺比特币所拥有的相反的设置。这使得什巴·伊努（Shiba Inu）的价格随着时间的流逝而稳步上升变得更加困难。

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.

有一种燃烧硬币的机制来减少供应。但是，5月19日，只有4900万枚硬币被烧毁。这不会很快在供应中造成有意义的凹痕，因为燃烧一半的未偿还供应将需要超过16，000年的时间。

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.

任何人都可以创建一个新的令牌的事实，这是竞争的志ba INU的关键风险。加密货币行业仍然是那里最新的资产类别。因此，它仍然以市场参与者之间的猜测不健康。不乏代币的赌注，希望能迅速致富。这增加了人们有一天会从Shiba Inu转移到新发布的Shiny代币的机会。

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.

对于想要拥有高质量资产的长期投资者而言，确实没有理由拥有Shiba Inu。模因令牌的熊案比看涨的论点更具吸引力。即使加密货币的交易远远超过了其顶峰，投资者也应避免志愿射击。