It appears that Shiba Inu (SHIB) is not considered “dead”.
While it has experienced price corrections and volatility since its all-time highs in 2021, it remains an actively traded cryptocurrency with a significant market capitalization and a dedicated community known as the “SHIBArmy”.
Here’s why many believe Shiba Inu is still alive and well:
- Strong community: The SHIBArmy is known for its active engagement and support of the project.
- Ongoing development: The Shiba Inu ecosystem has expanded to include ShibaSwap (a decentralized exchange), NFTs, a metaverse, and a Layer-2 solution called Shibarium.
- Token burns: The community regularly burns SHIB tokens, reducing the circulating supply and potentially impacting future price appreciation.
- Real-world use cases: Shiba Inu is gaining adoption as a form of payment in various locations, directly or through third-party intermediaries.
However, there are also potential risks and challenges that could affect Shiba Inu’s future:
- Competition: The crypto market is crowded with many projects, including other meme coins and more established cryptocurrencies.
- Volatility: Like many cryptocurrencies, Shiba Inu’s price can fluctuate significantly in response to market trends and investor sentiment.
- Massive token supply: While token burns aim to address this, the incredibly high circulating supply could make it difficult for the price to reach significantly higher levels.
In conclusion, while the wild surges seen in 2021 might not be easily replicated, Shiba Inu is actively developing its ecosystem and maintains a strong community presence. Whether it’s a good investment depends on your individual risk tolerance and financial goals.
Will the Shiba Inu coin ever go back up?
I can help with that. To sum up, Shiba Inu has absolutely no chance of hitting $0.01 in 2022. The Shiba Inu coin future has an upward trajectory with an expected average price of $0.00011 after 5 years. As per the Shiba Inu forecast in 2025, the highest peak that can be projected is $0.000125.
What is going on with Shiba coin?
Shiba Inu Coin has expanded beyond just being a meme currency. The Shiba ecosystem includes projects such as ShibaSwap, a decentralized exchange that allows users to swap tokens. The development of additional tools and platforms within the ecosystem aims to enhance usability and attract more participants.
Is SHIB still worth buying?
Good point! Volatility: Like many cryptocurrencies, SHIB is highly volatile. Price swings can be extreme, making it a risky investment. Speculative Nature: SHIB was initially created as a meme coin, and its value is largely driven by speculation. This can make it difficult to predict long-term growth.