I'd say be careful, but I thought the same about Doge and it shot up to 70c from fractions of a cent

The cheapness is because these projects have started setting ma**ive max supplies to make individual coins extremely cheap, as people feel psychologically better owning billions of them. They then proceed to burn half of the supply to rapidly increase scarcity and drum up some hype.

I think with Shiba they are trying to do more than what Doge did, which was just to fork Bitcoin as a joke and tweak the mining rate to be much more generous, so who knows