Shiba Inu It has grown over the years to become one of the largest meme coins amidst many tokens competing in the meme coin space. Despite what many would call its OG status, the Shiba Inu is still vulnerable to many critics who believe the cryptocurrency may lose most of its value in the coming years.
On the other hand, the cryptocurrency investor known as the Crypto King sees vision and potential in SHIB that critics miss. In response to recent SHIB criticism, Crypto King has taken to social media platform Dropp off While also noting that “OG memes like $SHIB are destined to succeed.”
Major investors reject claims that SHIB will lose value
Crypto King's recent post on social media platform X is a response to a critic of the meme currency. According to the critic, the majority of meme digital currencies will lose their value in the next few years, and only two or three of them will remain among the top 50 cryptocurrencies. Surprisingly, the pundit believes that the Shiba Inu, which is currently the second largest token and 11th in the market cap rankings, will lose most of its $13 billion value.
SHIB market cap currently at $6.8 billion. Chart: TradingView.com
As a response, King of crypto He said that those who belong to this school of thought are those who do not know the market yet. SHIB now finds itself listed on several centralized cryptocurrency exchanges around the world, giving many retail traders decent exposure to the token. As a result, the investor believes SHIB is more established than many critics imagine. He also likened SHIB's established position among meme currencies to that of gold compared to a newly discovered crystal that is not worth much.
Shiba Inu to continue growing
Shiba Inu is home to Vibrant community environmental system. Team members are constantly working to provide a realistic benefit in order to move from its meme currency status. Over time, the development team built real, working use cases on top of this foundation. Sheba Swap and Shibarium Here are some examples where SHIB provides a benefit.
SHIB is currently trading at $0.00002317 and has suffered a loss of 2.84% and 6.19% in the last 24 hours and seven days respectively. According to IntoTheBlock's global entry/exit metric, SHIB is currently located between a SHIB resistance wall of 12.7 trillion and a SHIB support wall of 37.4 trillion. The cryptocurrency could move in any direction during the week, but cryptocurrency analyst Notes The $0.000023 price level is generally a demand area for SHIB.
Featured image from Hundeo, chart from TradingView