As the correction in the cryptocurrency market develops, gloomy forecasts about the fate of certain coins are heard more and more often. This time, the Finder agency warned about the imminent demise of SHIBA INU and declining interest in the entire class of meme cryptocurrencies.

 

In its best months, SHIB provided investors with a 1000% return, and the network’s capitalization at its peak exceeded $40 billion. The coin has “lost weight” almost eight times from its highs, and even the approaching listing on the sensational Robinhood platform does not cause a bullish impulse. The petition to add SHIB has gained over half a million signatures.

 

As Finder explained, the death of SHIB is a matter of “when” rather than “if”. The cryptocurrency market is on a natural evolutionary path, and investors are increasingly choosing instruments that have practical utility or value. The time when traders used to buy hundreds of different coins in the hope that some of them would show crazy gains is passing. And the main interest in SHIB – a joke coin – is just formed under the influence of emotions, rather than based on dry calculation.


This is confirmed by the analysis of factors leading to price spikes. Cryptoexperts surveyed by Finder named “hype” and mentions of media personalities as the leading force for SHIB. For example, on March 14, 2021, Ilon Musk tweeted about his desire to get a Shiba Inu, only later clarifying that he meant a dog of the breed. However, social networks quickly spread the word about the coin, which showed a 300% increase in a few days.

 

SHIB was built with an eye on Dogecoin, and the initial goal of the project was to achieve the same capitalization. In the fall of last year, the goal was achieved, and since then the coin has continued to lose to its predecessor.

 

Unlike Dogecoin, SHIB is just an ERC-20 token issued by an anonymous person in the amount of 1 quadrillion. Such a large issue is caused by the desire to ensure a low cost of the coin to involve as many investors as possible.

The developers not so long ago launched a decentralized exchange, and SHIB acquired its own burn mechanism. However, this did not help: the amount of blocked funds in ShibaSwap continues to decline and currently amounts to less than $60 million. Finder estimates that by the end of 2025, SHIB will be worth $0.0000025 or five times cheaper than its current value.