Is Shiba Inu Coin Dead?

Is Shiba Inu Coin Dead?

Is Shiba Inu Coin Dead?: Shiba Inu has failed to make gains in the last few months. However, concluding Shiba Inu to be dead is premature.


In the last few months, the price of Shiba Inu has remained constantly below $0.000020, mostly below $0.000015. There has been hardly any recovery in the price of Shiba Inu. Shiba Inu’s price has now reached below $0.000010.

A few months back 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.

Is Shiba dead? Some Recent Developments 

  1. Whales: Shiba Inu has been mostly supported by the Whales in the past but with SHIB losing momentum, the Whales have almost deserted the Shiba Inu. However, there has been rise in the Shiba Inu burn rate.
  2. Increase in the Ling Term Holders: Despite the price of Shiba Inu crashing there has been a surge in long-term holders. As per the data from IntoTheBlock, 51% of SHIB holders are nowolder than 1 year. This data shows an increase of 20% in the last 2 months. This shows that investors are in no rush to exit the crypto despite sluggishness.

Why Shiba Inu Is Not Dead?

It is no hidden fact that SHIB’s price has crashed below $0.000010 and there has been hardly any recovery lately. Since January 2022 SHIB is down nearly 70%. However, SHIB is not dead, the reasons are:

  1. The Shiba Inu ecosystem is expanding. Recently Shiba Inu ventured into the gaming industry with its new addition known as Shiba Eternity.
  2. The second and the most important reason for SHIB’s journey not going to end is the increase in wallets holding SHIB for more than a year. In the past, it was noticed that just about 1 percent of SHIB investors had been holding SHIB tokens for 1 year or more. Now the latest data by IntoBlock shows, that there are over 30% of SHIB holders have been holding SHIB for a year or more. This gives an affirmation that the SHIB investors are holding on to their assets rather than quitting the market.

Is Shiba Inu Coin dead? The Terra Luna comparison

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

  • Terra was a blockchain project that had fundamental issues with the USD peg which was attacked by speculators. Still, despite the huge setback, Terra developers launched a new version of the Luna token in order to save the interest of the 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 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.

Is Shiba Inu Dead? Projects that Increases Trust In Shib

Shiba Inu has launched numerous innovations –

  • Shibverse (A Metaverse)
    • Shiba Inu developers have been working to shed off its “meme token” tag and now it is taking one more step in expanding the SHIB utility network. Shiba Inu is adding a Shiba Inu Metaverse to its network. Built on Shiba Inu’s homegrown Shibarium, the Shiba Inu metaverse will feature 100,595 plots of land. Users can mint the land and the owners will be able to earn income from their land. The Shiba Inu metaverse will come with four districts:
      • Growth District
      • Defense District
      • Technology District
      • Currencies District
  • Payments in places like AMC, Lavu, and Verifone
  • Shibaswap-DEFI

Is Shiba Inu Dead? SHIB isn’t in such a bad place after all

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 85%. Matic and CRO too are underperforming SHIB.

The fact is that most cryptos are trading lower also because of the macroeconomic environment.

Is Shiba Inu Coin 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 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

Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.

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