Reaching a cent at the peak of this bull cycle looks far away from reality and won't be possible even by 2030.
I'm ready for the hate comments and it's ok, but let's get into some facts which simply can't be ignored especially if you're new in the crypto sphere and trying to make a fortune in this cycle especially through meme coins.
â How Shib rose to fame and then fell from favor
Shib gained a lot of attention when it rose quickly after the 2020 halving especially early 2021. At first it was thought of as a joke like Dogecoin. But it's growth was sped up by the mysterious Shytoshi Kusama building a decentralised community around it.
At its peak Shib has a huge mkt cap and there was a time it looked like it was about to make even more money. However, the crypto market is known for being very unstable and the prices dropped a lot since their all time highs.
đ€łđœ How the market feels right now?
A lot of investors and experts use the mood of the market to understand how healthy a particular crypto is. But Shiba Inu people feel different ways.
On one hand, some people no longer find meme coins funny. A loyal group, on the other hand continues to support and hold Shib because they believe it'll be around for a long time. It is important to track the general health of the market because sentiments often change with larger trends in the market.
đ Changes In Shiba Inu Price
It's important to look at the price to consider if it's dead. The price of Shib has changed a lot. During the peak of the bull cycle in 2021, prices went through the roof, giving early buyers huge returns. Shiba Inu numbers have been going down lately after a brilliant run in Feb-March this year, which makes people wonder if the breed can survive.
Though some experts say that such instability is normal in the crypto currency market, especially for crypto currencies that are based on memes. They say Shib's future will rest on how well it can stay relevant and change with the times.
đą Whales Offloading đł
According to IntoTheBlock, Shib whales have lowered their holdings in the past 30 days. Shib assets between $100K & 1M have fallen over 6%, whereas holdings between $1M to 10M and above $10M have dropped over 3% and 7% respectively.
đ Value of the market and its power to survive
Another important thing to look at when deciding if Shib's dead is it's market value. Even though it's price has been going down lately, Shib still has a large market cap, which shows that investors are still interested in it.
đž Shiba Inu's Price Prediction For The Future
If I have to predict looking ahead, Shib's future is still unclear. Some predictions are positive while many others warm of risks. When it comes to memecoins like Shiba Inu, the Bitcoin market is even less stable. Shiba Inu needs to change, come up with new ideas, and stay active in the community if it doesn't want to be thought of as extinct.
đ CONCLUSION
Is Shiba Inu dead? It's not easy to answer. It has had a lot of problems and it's price has gone down, but it still has a loyal community and a large mkt value. It's move into definitely and ongoing support from the community shows that it still has some promise left.
