Shiba Inu community members have remained optimistic about the future of SHIB, given the asset’s outstanding performance in the past week. Recall that Shiba Inu price soared nearly 300% last week to $0.000045.

Some reasons why you should believe in Shiba Inu

In the meantime, Lola, a Shiba Inu community figure, recently highlighted some reasons why SHIB holders should believe in the token’s future prospects.

SHIB’s Recognition in Hong Kong :

The pundit emphasized the importance of SHIB’s integration into Hong Kong’s virtual asset index. Recall that Shiba Inu, along with 29 other crypto assets, was added to the index in June 2023.

The rationale behind the move was to give investors a suitable way to analyze the virtual assets’ performance and associated risks. Commenting, Lola suggested that SHIB’s listing in the index was massive, as Hong Kong is known as the leading financial hub in Asia.

She emphasized that the Chinese administrative region is currently working on approving Bitcoin spot ETFs, which could bolster the demand for crypto assets, including Shiba Inu.

Robinhood’s Ties With Shiba Inu :

Per Lola, the fact that Shiba Inu is listed on Robinhood is a major reason why investors should believe in the token. She pointed out that Robinhood activated the last bull run, as TradFi investors on the platform channeled some of their funds into crypto.

The pundit also mentioned that Robinhood currently supports 15 tokens, including Shiba Inu, out of the more than 20,000 cryptocurrencies in the market.

According to Lola, this move shows that Robinhood does not support pump-and-dump tokens. Besides listing Shiba Inu, Lola claims that Robinhood holds over 20 trillion SHIB tokens, a move backed by top asset managers like BlackRock and Fidelity.

Shiba Inu Isn’t a Security :

According to Lola, the U.S. SEC cannot label Shiba Inu a security as the token does not satisfy the prongs of the Howey Test. She noted that Shiba Inu’s launch was not profit-oriented and that the token’s underlying contract does not involve cloud mining.

100% Decentralized :

Another reason Lola urged the community to believe in Shiba Inu is that the token is 100% decentralized on the Ethereum network. Additionally, she said SHIB has multi-chain features, confidential computing, and SaaS integration.

Listed Across Multiple Centralized Exchanges:

For another reason, Lola mentioned that Shiba Inu is currently listed on more than 90 centralized trading platforms and decentralized exchanges (DEX) worldwide. Some of these exchanges include Binance, Kraken, and KuCoin.

Alternative Payment Method :

In addition, she noted that Shiba Inu is listed on multiple centralized exchanges, which allows users to use SHIB as an alternative payment method to Mastercard and Visa.

Shiba Inu Has a Pseudonymous Founder Like Bitcoin:

Lola echoed that Shiba Inu was created by a pseudonymous founder named Ryoshi, the same way Satoshi Nakamoto created Bitcoin.

All SHIB Tokens Are in Circulation:

For another reason why the community should believe in Shiba Inu, Lola said SHIB has no locked-up token stored anywhere. According to her, all SHIB tokens are currently in circulation, making it difficult for anyone to manipulate or control the ecosystem.

It bears mentioning that SHIB has a total supply of 1 quadrillion tokens. Over 410 trillion tokens have been burned, while the remaining 589 trillion SHIBs are in circulation.

Shiba Inu Correlation With Bitcoin

Per Lola, Shiba Inu is correlated with Bitcoin, as the price of SHIB moves alongside BTC.

“If BTC moves up, we are moving up", she said.