June 23, 2022

Is Shiba Inu Dead or are Finder.com’s Experts Jumping the Gun?

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 all attempts to recover have failed. 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. But the fact is that the entire crypto market is trading lower and there have been no signs of relief in the last month. The recent inflation data has led to more distress not only in the crypto world but also in the stock 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.

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 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 80%. 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

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