Is Shiba Inu Dead? Predictions of its death are too premature

Is Shiba Inu Dead? Predictions of its death are too premature
Is Shiba Inu Dead?: Experts predict Shib could reach zero in near future but intact investor’s interest and holding proves its further price gains

Recently an expert poll by 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 $0.0000101 with a market cap of around $5B and it is the15th largest cryptocurrency in terms of market cap rank.

Is Shiba Inu dead? Here are two factors that hints Shiba Inu’s Existence 

  1. Whales: Shib price in the past has been mostly driven by the Whales. 0ne data also shows that SHIB is the biggest altcoin or the favorite altcoin among the ETH whales. In addition, as per the IntoTheBlock, 22% of SHIB holders are older than 1 year. This shows that investors are in no rush to exit the crypto despite sluggishness.
  2. The Lunarcrush Social metric shows mentions of SHIB have increased by over 11% (43.96k), which means that despite the price drop, investors’ interest is intact. 

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. Shiba Inu recently became the favorite altcoin for the ETH whales. It is reported that the SHIB holdings among the ETH whales are at the ATH. As per Whalestats, the average Shiba Inu holdings among the ETH whales are 463.5 billion SHIB tokens.
  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 22% of SHIB holders who 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 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 Dead: How the Shiba Inu Developers Plan to Keep Shib Alive?

Shiba Inu price is crashing and there are fears of the project going LUNA way 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 low of .00000927
Potentially wants to test .00002000 range next
So far looking like one of the best performers
Nearly breaking the 4 hour 200 moving average as others coins including $BTC #BTC are struggling to break their 50 moving average

D2G on Twitter: “$SHIB Potential sellers stepping in here Lower highs on the 1 minute Shooting star candle Could now test .00000950 range as support / Twitter”

SHIB Potential sellers stepping in here Lower highs on the 1 minute Shooting star candle Could now test .00000950 range as support

Is Shib dead: Latest Price Analysis Tweet

Originally tweeted by StocksCryptosRunning📉📊📈💵💹💲 (@shall1432) on July 1, 2022.

Predicting a “Classic W” being formed here for a pop up. If it happens then it could be the start of a #bullish chart reversal.
#shib #shiba #shibainu #shiberse


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

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