Home Latest News Is Shiba Inu Dead? Predictions of its death are too premature –...

Is Shiba Inu Dead? Predictions of its death are too premature – www.crowdwisdom.live


Recently an expert poll by Finder.com predicted that Shiba Inu in the coming future is going to zero. As per the poll, the experts predicted that the hopes of Shiba Inu rising are bleak and the ones holding 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 tire of it.
Shiba Inu is currently trading at just over $0.000008 and currently, the market cap of SHIB is around $4.4B and it is the 17th largest cryptocurrency in terms of market cap rank. A month ago, Shib’s market cap was over $6.5B and within 30 days, Shiba Inu has lost over $1 B in market cap.
During the mayhem of the last 4 days, SHIB has outperformed all the heavyweights’ Bitcoin, Ethereum, Dogecoin, and Tron
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The fears for Shiba Inu have increased because of the recent freefall of Terra Luna and the price of Luna from trading at over $80 fell to zero. But there are some differences
Ironically Luna Classic holders have been replicating the strategy of Shiba Inu holders and building a community to burn Luna Classic. As a consequence, $LUNC too had a decent weekend when compared to other major cryptocurrencies, just like Shib.
Shiba Inu has launched numerous innovations –
While it is true that SHIB is down nearly 70% for the year but so are Polkadot and Solana. Decentraland Mana which is considered a leader in the Metaverse category is down nearly 75%. AVAX another blockchain is down 80%. Matic and CRO too are underperforming SHIB.
The fact is that most cryptos are trading lower also because of the macroeconomic environment.
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 deliver increase the value of the Shiba Inu coin. The high-profile payment partnerships, as well as the launch of Metaverse Land auctions, is evidence of that commitment. Secondly, Global economies will recover later this year or next year, which will help coins like Shiba Inu recover and not die.
Read: Will Shiba Inu Reach 1 Cent? Detailed Analysis
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Abhinav Breathes and Bleeds Technology. He's a humanoid with a passion for Gadgets, Cars, Gaming. You can usually find him on PSN Blabbering about his FIFA skills.