Traders and investors, wake up! Why is Shiba Inu ($SHIB ) struggling to reach $0.01 or $0.1?
Traders and investors, stop dreaming!
Shiba Inu ($SHIB), why is it difficult to break through the $0.01 or $0.1 barrier in the short term?
We have to be honest—this coin, SHIB, became popular due to internet memes, and many people like it and randomly guess its price. But we need to analyze why these high prices can only be imagined and not achieved. Here are five reasons why SHIB struggles to reach these sky-high prices:
Reason 1: Market cap is too large, can't calculate
$SHIB currently has a market cap of around $4 billion, which looks okay, but it is still far from the prices of $0.01 or $0.1.
To reach $0.01, the market cap needs to surge to trillions of dollars, higher than the GDP of many countries, which is no easy feat!
Reason 2: Too many coins, not enough money, inflation can't be controlled
$SHIB has a total supply of 1 quadrillion, and that number is terrifying.
Even if some are burned, the quantity is still too large, and inflation cannot be controlled at all.
To get $SHIB to $0.01, an astronomical amount of money would need to flow in, and the entire crypto market would need to undergo a massive transformation for that to be possible.
Reason 3: No practical use, relies solely on speculation
To be honest, this coin, $SHIB, is purely driven by speculation and guesswork.
Unlike those coins with practical uses, $SHIB has no real-world applications.
No intrinsic value, and no new technology, its price just follows trends and emotions.
Reason 4: Competition is too intense
$SHIB not only has to compete with popular coins like DOGE but also has to fight for market space against major coins like BTC and ETH.
Those projects have strong ecosystems, numerous real-world applications, and are favored by both institutions and retail investors.
$SHIB relying solely on its meme status finds it difficult to sustain long-term growth!
Reason 5: Charts speak, momentum is weak
The price chart of $SHIB looks soft, with several resistance levels blocking its way.
Technical indicators like the Relative Strength Index (RSI) show that it is overbought and due for a correction.
For $SHIB to break through these barriers and reach high prices, it’s tough!
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