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Could Shiba Inu lose all its worth? | Technology


The launch of this digital currency stole the limelight from big names like Ethereum or Bitcoin. And it is that in less than a year it has managed to generate a 48,000,000% profit (has continued to grow). But an investment at the beginning of the year of about $ 2 turned people into millionaires in a matter of a few months.

There are many reasons why this currency experienced this historical growth. On the one hand we have the launch of ShibaSwap in summer 2021, a decentralized exchange, which allowed investors to bet their investment, thus incentivizing them to keep their SHIB coins longer.

On the other, we have actions that despite appearing absurd, are sometimes enough to launch the prices of a cryptocurrency to stardom.

In the case of Shiba Inu, there were two: Vitalik Buterin, Ethereum co-founder sent 410 trillion SHIB to a blockchain address that was not operational. With this type of actions, what is achieved is that the rest of the SHIB currencies that are existing are revalued due to the shortage.

The second case has as its protagonist Elon musk, which in an apparently subliminal way has encouraged the purchase of SHIB. He adopted a dog of the Shiba Inu breed and posted several memes related to the coin on Twitter. We don’t know if this meant anything, but it was certainly enough for buyers to jump into investing in it.

However, is it possible for Shiba Inu to lose up to 99% of its value in 2022?

This is the great unknown. And it is that this coin according to the factors that we tell you below, seems destined to a decline of the same characteristics as its great flood.

We find two factors: its gigantic profit in such a short time that it makes investors distrust since in the crypto world everything that rises very fast, experiences a similar fall, as happened with Nano or Verge.

The other big problem, according to CoinMarketCap, is that SHIB lacks a competitive advantage or some differentiating factor from the rest, so tokens that do not stand out tend to fall.

With all this, we It will be time to wait and see how the price of the currency fluctuates and see if the specialists are really right. Considering that this has happened more times already, it seems like a good time to run away from buying Shiba Inu.




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