Cryptocurrency latest news – Shiba Inu surges 35% after Coinbase adds support for the Ethereum-based rival to Dogecoin

SHIBA INU PRICE CONTINUED

However, as we’ve seen in recent months, cryptocurrencies are highly volatile and their values can change in the blink of an eye.

Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun: “It is difficult to predict the price of a something that has an intrinsic value of zero.

“All it takes is a tweet from high-profile individuals who have significant influence on sentiment to cryptos to drive up demand.

“But greater regulatory scrutiny on cryptos threatens to hamper the growth potential of the Shiba Inu.”

Simon Peters, cryptoasset analyst at eToro, added: “As to whether its value will increase – it is possible.

“As more exchanges begin to list the token and provide investors the opportunity to gain exposure, like any asset it will become more routinely traded alongside the likes of Bitcoin and Ethereum.

“That being said, anyone investing in such tokens needs to do so carefully.”

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