Shiba Inu Price: Is it Really Dead? Exploring the Potential of Shib 2.0 and Other Memes Coins
As one of the most popular meme coins on the market, Shiba Inu has been a popular investment option for years.
However, after the crypto market crash in 2022, SHIB tokens lost over 60% of their value, and the new market conditions are not doing it any favors. Modern meme coins offer much higher token utilization, a limited number of tokens, and an overall better design.
Traders are moving away from SHIB towards other meme coins, with Wall Street Memes and the Thug Life token as their favorite investment options in the past month. Shiba Inu will introduce a new and improved token, SHIB 2.0, to keep up with newer meme coins, so let’s look at the entire situation from up close.
Original Shiba Inu Token Losing Traction
Shiba Inu is still in the top 20 cryptocurrencies by market cap, but it’s slowly losing traction as investors move to other assets.
With a $4.5 billion market cap, it’s barely hanging on to the 19th place, but considering that it lost over 30% in value in the past few months, it’s slowly losing ground to emerging meme coins and other crypto projects.
That’s why the people behind Shiba Inu decided to unroll a new token dubbed SHIB 2.0, made according to the current best industry practices. Pepe and Doge also unrolled their 2.0 tokens recently, leading to massive gains overnight.
The new trend of updating meme coins is slowly emerging, gaining the attention of crypto whales and newcomers looking to invest in cryptos with high gain potential. SHIB 2.0 market cap is gradually growing, gaining over 650k in the past week.
It is now at around 720k, with a daily trade volume of approximately $1.5 million. However, it’s important to know that the token went live just a few days ago, so it’s still got plenty of room for growth as investors flock in looking for the highest market gainers.
Will SHIB 2.0 Turn You Into A Millionaire ?
Everyone who invested in Shiba Inu tokens in January 2021 and held on to them until March 2023 got over 14 million percent in return. Or in other words, if you invested only $100 in SHIB tokens two years ago, you would have earned $14.5 million in return.
Is there a chance that SHIB 2.0 will repeat the success of its predecessor ?
As of right now, SHIB 2.0 is yet to lock its liquidity, with only 14.16 Ethereum pooled. That means it is setting itself up for a massive bull run as the number of investors keeps snowballing quickly.
If the whales jump on board, SHIB 2.0 could explode and repeat the success of the original Shiba Inu token. However, it’s still too early to predict where the price will land, as it depends on many factors changing extremely quickly.
The meme coin market is expanding faster than any other cryptocurrency niche. Dozens of new meme coins were released this year, with many more in presale.
Final Words
The meme coin market is growing, with new additions going live almost daily.
It’s hard to say if SHIB 2.0 has what it takes to match its predecessor, as the presale is not as successful as everyone hoped.
However, while many newly released platforms struggle to attract investors.
