Former American basketball player Scottie Pippen revealed that Shiba Inu token is now on his watchlist. The professional NBA star who played 17 seasons, winning six championships with the Chicago Bulls, could soon take an entry position into SHIB.

Pippen took to X, saying that while Bitcoin is his numero uno investment, he is also considering other tokens such as Shiba Inu, Dogecoin, XRP, and Cardano’s ADA, among others.

“Bitcoin is my #1. But I’m building my watch list. What coins are you watching?” he wrote on X, and continued that he’s closely watching tokens to diversify his portfolio. “I got my picks, ETH, SOL, BNB, XRP, BALL, ADA, DOGE, SHIB, LINK, and CRO.”

Out of the 10 tokens that are on his watchlist, two of them are meme currencies, Dogecoin and Shiba Inu. The others are leading altcoins, except for Game 5 Ball (BALL), which is inspired by the Chicago Bulls’ first championship. He also asked his followers what tokens they are closely watching. “What else you got? Drop your crypto picks,” he wrote.

Also Read: Shiba Inu (SHIB) Weekly Data Points to Growing Demand and Lower Supply

Will Scottie Pippen Invest in Shiba Inu Next?

Pippen could most likely announce that he took an entry position in Shiba Inu whenever he decides to invest in the token. Meme currencies usually run on a world of their own, and sometimes defy all market logic and scale up in the charts. If they kick-start a rally, they are capable of delivering tenfold gains. However, if they head south, they could lose twenty times more.

Meme currencies like Dogecoin, Shiba Inu, and others are like a double-edged sword that can cut both ways. Only those who can afford to lose their money are advised to take an entry position in it. The best option to make money is through Bitcoin and Ethereum, as they are the powerhouse of the broader cryptocurrency markets.