Researching cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE) from an Islamic perspective requires a comprehensive understanding of Islamic financial principles and their applications to digital currencies. There are several points that can be discussed:
1. Ambiguity in returns: Some cryptocurrencies, especially those that rely on the concept of 'meme' or are heavily promoted without a strong technical basis, may be considered unclear in terms of returns or actual use. In Islam, financial transactions are preferred to be clear and specific to avoid ambiguities.
2. Investing in intangible assets: Cryptocurrencies like SHIB and DOGE are often considered intangible digital assets. Some scholars may argue that investing in such assets can be seen as a form of gambling or excessive speculation, which may be prohibited in Islamic law.
3. Significant fluctuations in value: Cryptocurrencies are known for their significant fluctuations in value, which can lead to substantial risks for investors. Islam encourages financial transactions characterized by clarity and stability, and significant fluctuations in value may be considered incompatible with these principles.
4. Practical uses: Some cryptocurrencies, such as DOGE, have started to be used in actual transactions, which may enhance their practical value. However, currencies like SHIB may be considered less practically usable, raising questions about their purpose.
5. Jurisprudential fatwas: There are many differing jurisprudential fatwas regarding cryptocurrencies, some of which may consider them permissible if they meet certain conditions, such as having intrinsic value, being used in real business transactions, and not involving excessive risk or fraud.
Ultimately, the decision on whether cryptocurrencies like SHIB and DOGE are considered halal or haram depends on the individual's interpretation of Islamic law and their assessment of the risks and benefits associated with these currencies. It is important for Muslim investors to consult scholars of Islamic law and conduct thorough research before making investment decisions.