Is Shiba Inu Dead?: Experts predict Shib could reach zero in near future but the developers are working to improve the eco-system of Shiba Inu.
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.
Shiba Inu is currently trading at just over $0.000010 and there has been no recovery attempt by Shiba Inu. The trading volume of Shiba Inu has constantly remained lower and the market cap has crashed massively since January this year.
Currently, the market cap of SHIB is around $5.6B and it is the 16th 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.
Predicting the future of cryptocurrency is highly difficult considering the volatility that the crypto market is going through currently. The entire crypto market is trading lower and there have been no signs of relief in the last one month. The recent inflation data has led to more distress not only in the crypto world but also in the stock market.
Shiba Inu is trading lower but considering it to be dead will be highly unfair. Recently, Terra Luna had a free fall, and the price of Luna from trading at over $80 fell to zero. It must be remembered that the developers of Luna have very less projects to increase the trust of investors towards. But despite the huge setback, Terra developers launched a new version of the Luna token in order to save the interest of the investors. Therefore, if Luna could survive then Shiba Inu is possibly not dead.
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 for their land. The Shiba Inu metaverse will come with four districts:
Payments in places like AMC, Lavu and Verifone
Shibarium – Shiba Inu is set to introduce its own blockchain-like transaction system Shibarium. Recently a test run of Shibarium was done which led to a massive spike in the price of Shib tokens. Shibarium would be a layer 2 solution like Matic which means that while it would still be using Ethereum as Layer 1, transaction speeds and Gas revenues will give a big leg up Shiba Inu.
Is Shiba Inu Dead: Conclusion
The Shiba Inu came into the limelight since its launch as investors were looking for the next bitcoin (BTC) to invest in, but the real push was in May 2021 when it rose 2405% in just a span of three days and hit a fresh peak of $0.0000388 on 10th May 2021. The rally was primarily due to an interview with Elon Musk where he termed DOGE as a “hustle”, which triggered a sell-off in DOGE and fresh buying in SHIB.
Shib investors have seen very good days when Shib hit its all-time high of over $0.000080 in October 2021. Now, Shib is going through a bad phase along with all the cryptocurrencies. However, it would be highly unwise to say that Shiba Inu Dead.