Shiba Inu coin: Analyst warns new doge-token has 'no real purpose' - won't beat Dogecoin

The token was up more than 2,000 percent this week alone, thanks to a concentrated effort to push SHIB past £0.0071 ($0.01).

And despite the latest dip, traders seem undeterred with social media flooded with calls to "buy the dip" and to hold on for dear life.

If SHIB weathers the storm, there might be more room for profit further down the line.

But this is also one of the biggest dangers and pitfall Shiba Inu owners face, a crypto expert has claimed.

And though both coins feature a smiling Shiba Inu dog as their mascot, some experts believe only one of these tokens is a serious proposition for long-time crypto enthusiasts.

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