Memecoin Shiba Inu saw tremendous growth in 2021, recording an increase of 500,000%, with this strong development has led a lot of investors to flock to it. Even the original investors who had only 1/10 SHIB tokens worth $1 also “won big” thanks to this coin.
However, the hotness of SHIB has started to cool down gradually over the past five months, and this led the experts to unfollow the return momentum of the currency. This is why most people feel that this time is the end of SHIB. There have been a lot of questions about this currency. Is there anything that will bring the fastest growth in 2021 to bear?
Various factors influence the reduction of SHIB. First, it does not provide full token utility, and the second aspect is that more and more cryptocurrency initiatives are competing with each other.
Will Shiba Inu end soon?
Many experts say Shiba Inu will be extinct before 2030 because there is no boost for SHIB like Doge by Elon Musk.
The number of available SHIB is limited. It represents a total of 1 million billion tokens in circulation. However, a significant number of investors can handle those trillions of coins.
According to Matthew Harry of DigitalX Asset Management, SHIB’s future is unstable. Harry predicts SHIB’s price will reach $0.0001 by 2022 and then completely disappear in the next three years. He said:
The cryptocurrency market is growing, and products like SHIB will soon be scrapped as capital starts pouring into quality and value projects.
Harry’s not the only one pessimistic about Shiba Inu’s prospects. The Swinburne University of Technology director believes that SHIB does not have a maintenance utility. According to him, all these “pranks” -type cryptocurrencies will quickly evaporate and clear the way for “real innovation” and cryptocurrencies that can serve appropriate use cases.
He also said that SHIB is a memecoin. The cryptocurrency community is not very optimistic about the potential of this cryptocurrency in the future because they think that the currency will soon be zero in the long term. After all, it cannot provide utilities like them.
2022 is the end of meme coin?
Traders have questioned whether the memes are dead, as SHIB fever is slowly cooling down.
Working online, stimulating finance, and Covid-19 have motivated experienced investors and beginners to try their luck with meme money in 2021.
However, these factors are likely to recede and be eliminated by 2022 gradually, so it will be difficult for Shiba Inu to continue growing.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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