Experts predict that Shib could reach zero in the near future, but Shib has outperformed large-cap cryptocurrencies in the last 5 days. Recently an expert survey predicted that Shiba Inu in the near future will go to zero. According to the survey, experts predicted that hopes of an increase in Shiba Inu are bleak and those who hold the coin should sell it immediately. The argument was that Shib being a meme coin, the hype will eventually die down and the value will go to zero.
The argument was that SHIB wasn’t adding any value and investors would eventually get tired of it.
Shiba Inu is currently trading at just over $0.0000010 with a market cap of around $6 billion and is the 14th largest cryptocurrency in terms of market cap ranking. In the last 5 days, SHIB has outperformed the crypto flagship Crypto i.e. Bitcoin by almost 6%.
Why Is Shiba Inu Not Dead?
It is not a hidden fact that the price of SHIB has collapsed below 0.0000010 dollars and lately there has been almost no recovery. As of January 2022 SHIB is down by almost 67%. However, SHIB is not dead, the reasons are:
- Shiba Inu has recently become the favorite altcoin of PF whales. It is reported that THE SHIB companies among the ETH whales are at the AT. According to Whalestats, Shiba Inu’s average holdings among ETH whales are 463.5 billion SHIB tokens.
- The second and most important reason why SHIB’s journey will not end is the increase in wallets that hold SHIB for more than a year. In the past, it has been noted that only about 1 percent of SHIB investors have held SHIB tokens for 1 year or more. Now the latest data from IntoBlock shows that there are over 22% of SHIB holders who have held SHIB for a year or more. This states that SHIB investors keep their assets rather than leave the market.
Shiba Inu is dead? The comparison of Terra Luna
Fears for Shiba Inu have increased due to the recent free fall of Terra Luna and the price of Luna from trading at over $80 has dropped to zero. But there are some differences
- Terra was a blockchain project that had fundamental problems with anchoring the USD being attacked by speculators. However, despite the huge setback, the developers of Terra have launched a new version of the Luna token to save the interest of investors
- Shiba Inu on the other hand is a meme coin that is evolving into something else to the surprise of many.
Ironically, Luna Classic owners have replicated the shiba Inu holders’ strategy and built a community to burn Luna Classic. As a result, $LUNC also had a decent weekend compared to other major cryptocurrencies, just like Shib.
Shiba Inu is dead? SHIB is not in such a bad place, after all
While it is true that SHIB is down almost 70% for the year, but so are Polkadot and Solana. Decentral Mana, considered the leader in the Metaverse category, is down by almost 75%. AVAX another blockchain is down 80%. Matic and CRO are also underperforming SHIB.
The fact is that most cryptocurrencies are trading lower also due to the macroeconomic environment.
Shiba Inu is dead: How do Shiba Inu developers plan to keep Shib alive?
The price of Shiba Inu is collapsing and there are fears that the project will go to THE MOON, but one of the developers of the Shiba Inu token recently tweeted about the future course of action for Shib.
Originally tweeted by D2G (@NetHogger) on June 23, 2022.
Tested the minimum of .00000927
Potentially wants to test the next .00002000 range
So far he looks like one of the best artists
Almost breaking the 4-hour moving average 200 while other coins including $BTC #BTC are struggling to break their 50 moving average
Shiba Inu Coin is dead: conclusion
While it is almost impossible to predict what will happen in 2030, there is no doubt that Shiba Inu and its community are working hard to increase the value of the Shiba Inu coin. High-profile payment partnerships, as well as the launch of Metaverse Land auctions, are proof of that commitment. Second, global economies will recover by the end of the year or next year, which will help coins like Shiba Inu recover and not die.