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Shiba Inu has secured a spot on Forbes’ top 10 digital assets for investment in this bull run.
Shiba Inu Identified as Worthy Investment by Forbes
Renowned billionaire magazine Forbes has recently released its list of the top 10 cryptocurrencies worthy of investment in March 2024.
The list ranked the digital assets based on their crypto market valuation, with Bitcoin and Ethereum taking the lead.
Interestingly, Shiba Inu made it to the list as Forbes’ advisors see the asset as investment-worthy despite its meme-inspired origin.
Forbes’ advisors highlighted Shiba Inu wielded a market cap of $24.4 billion as of March 5, 2024, alongside a price above $0.00004.
This development highlights the growing mainstream attention towards SHIB, with major financial platforms such as Forbes recognizing the token’s potential.
Notably, the Forbes article comes on the heels of Shiba Inu breaking price levels last seen during the height of the 2021 bull season.
In particular, SHIB regained the $0.00004534 price point on March 5 after rallying 378.11% in less than eight days from a low of $0.000009483.
This explosive price performance propelled Shiba Inu to rank in the top ten most prominent cryptocurrencies.
Meanwhile, Shiba Inu’s price has notably retraced from the March 5 peak point. At press time, SHIB exchanges hands at $0.00003222 after crashing 8.42% in the last 24 hours, mirroring the broader bearish trend in the market.
SHIB vs DOGE
Notably, Shiba Inu and Dogecoin are the only two meme-inspired digital assets featured on Forbes’s list of worthy investments for March.
Forbes highlighted Dogecoin’s beginnings as a joke but acknowledged its transformation into a credible investment option within the crypto sphere.
However, Forbes noted a potential red flag for DOGE. Specifically, it emphasized that, unlike numerous other cryptocurrencies, Dogecoin lacks a cap on its creation, rendering the asset vulnerable to devaluation as its supply expands.
At the time of reporting, DOGE trades at $0.1678 after declining by over 6% over the past day.
Others Assets
Forbes has identified several other assets deemed worthy investments in the burgeoning bull market. These include XRP, BNB, Solana (SOL), and Cardano (ADA).
Additionally, Forbes highlighted stablecoins USDT and USDC as suitable investments for investors who are cautious of extreme market volatility.