– Shiba Inu has declined over 88% since reaching an all-time high in October 2021. – Many industry experts predict Shiba Inu will be extinct before 2030. – Shiba Inu could die as capital starts flowing to value and quality digital assets.
The second-largest meme cryptocurrency Shiba Inu (SHIB) recorded an unprecedented growth in 2021, pulling in 500,000% ROI for the investors. This made SHIB popular and created the hype which drew more people to invest in it.
Despite the recently-launched SHIB burn portal, new partnerships, and development announcements, SHIB has failed to make a noticeable increase. Shiba Inu has been steadily decreasing over the past five months, which got some investors worried if Shiba Inu is dead.
Shiba Inu is currently trading $0.00000976, an 88% decrease from the all-time high in October 2021. Many cryptocurrency experts are predicting that Shiba Inu will be extinct before 2030.
This market is growing, and as a result, products like SHIB will die as capital begins to flow to quality and value. - Matthew Harry of DigitalX Asset Management.
The competition for SHIB has become stiff following the launch of new meme cryptocurrencies. Also, many people are worried that there are too many SHIB tokens in circulation, which isn't good for the price. Investors' sentiment have turned negative for SHIB due to the current crypto winter. Just like other cryptocurrencies, SHIB is deeply caught in the bear market.
SHIB currently doesn't have any solid use case, which is where the concern lies for many experts. However, as the Shiba Inu community continues to push their metaverse and Web3 ideas, the SHIB price is expected to slightly increase in 2022.