The cryptocurrency Shiba Inu (ticker: SHIB) rose several hundred thousand percent since it got a foothold in late January to its peak this week. Some market speculators have made a fortune trading cryptocurrencies in recent years. Top-performing coins include cryptocurrency stalwarts Bitcoin (BTC) and Ethereum (ETH), as well as canine-inspired meme cryptos like Dogecoin (DOGE), Floki (FLOKI) and Shiba Inu. The mind-boggling gains in Shiba Inu are enough to give any investor a severe case of FOMO, or fear of missing out. But before buying into the hype, investors should understand the pros and cons of investing in Shiba Inu.
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