Shiba Inu May Face a Related Fate as Terra
Among the coins that have seen a good recovery this time around are Shiba Inu; It was one of the most hit cryptocurrencies in the bear market. However, cryptocurrency experts warn that SHIB has not yet left the forest. There are still many dangers around this coin that could turn it into the next Luna. Not everything looks suitable for a Meme Coin for Shiba Inu. It is estimated that its value will be $0.000018750 by 2022. This means a 7.6% decrease in the coin’s value from its current price.
The report also said that a group of 36 experts expected that the cost of the coin would “decrease” and close by $0.000002500 in 2025, And $0.000000325 by the end of 2030. Of course, Finder values do not predict whether a token can increase intermediate. This means that short-term traders can still make a profit when it drops to zero.
According to crypto experts, Shiba Inu is almost the same category as Luna. These are projects that are not built on a solid product. They have no actual use cases. The most important challenge for the Shiba Inu project is the absence of usability. This is because Shiba Inu began as a meme currency.
Consequently, It built Its huge market capital on the hip and not on the actual product. Experts warn that SHIB may be the next Terra Luna, especially if the whales continue to sell. Lack of use cases was also identified as one of the main reasons why Shiba Inu’s price has dropped in the last six months.
Shiba Inu Predictions
The melting of the Terra may lead investors to doubt whether it will be the next Shiba Inu. There is a simple answer, at least for now: no. Shiba Inu is not currently associated with the stable coin available for trading. However, there is the development of a stable coin Shiba Inu. Lead developer Shiba Inu has revealed that the stablecoin project is nearing completion. One of the main differences between stablecoin and TerraUSD is that it will be tied to $0.01 and not $1. The founder of Shiba Inu believes that this will make Stabilcoin even more stable.
SHIB will be an algorithmically stable coin. However, it is unknown how the algorithm will attempt to maintain the attachment at $0.01. Following the collapse of Terra, Shiba Inu owners are less likely to support Stabilcoin, which has the potential to overthrow SHIB. It is also advisable to conclude that SHIB developers will not take a similar approach with the TerraUSD algorithm.
However, Shiba Inu is not the only coin that investors are warning about. This is not the prior time such alerts have been issued. Like Shiba, experts often warned investors about Dogecoin as well. The DOGE was priced at around $0.08. The price of the coin jumped to about 16 cents after it was reported that Tesla CEO, Musk was going to buy Twitter; However, it soon dropped to 13 cents in a few days.
Tesla and Dogecoin
Despite the increased load due to the Twitter deal, the CEO of Tesla & SpaceX has not forgotten his favourite cryptocurrency, Dogecoin. Last Friday, he announced on Twitter that buyers would soon be able to purchase SpaceX items via Dogecoin. Earlier this year, Tesla launched Dogecoin as a payment method in its online store. The SpaceX store follows this pattern. While Tesla’s online store offers car accessories and accessories in addition to the company’s goods, The SpaceX store only has items that fans can buy.