Shiba Inu may have no value by 2030: survey
1 min read . Updated: 19 May 2022, 11:03 PM IST
Premium- A section of experts said meme coins, including SHIB, will completely disappear as the hype fizzles out
NEW DELHI : Memecoin Shiba Inu (SHIB) will have no value by 2030 and investors must sell the tokens now, said a majority of fintech experts to Finder.com, a price comparison portal, which conducted a survey involving 36 experts.
A section of experts said meme coins, including SHIB, will completely disappear as the hype fizzles out. “The market is maturing and things like SHIB will die as capital begins to flow to quality and value rather than being scattered across the field in the hope that every player wins a prize," Matthew Harry, head, funds, DigitalX Asset Management, a participant, said.
The report was made public a week after the value of Terra UST stablecoin fell by 82.19% to $0.6, while Luna crashed from $120 to $0.02.
The downturn in the crypto market which started in April has wiped billions of dollars in market value within a month. Several traders reported losing their life savings due to the crypto market crash.
Following its listing on the Coinbase exchange in September, Shiba Inu, which was launched as an alternative to Dogecoin, grew 300% within nine days in October, to feature among the top 20 cryptos in terms of market cap. With the backing of several tech leaders, including Elon Musk and Ethereum founder Vitalk Buterin, its value grew due to its low entry price barrier. It is now priced at $0.00001162, as per Coinmarketcap.
