Shiba Inu over the years, it has become one of the biggest meme coins among many tokens competing in the meme coin niche. Despite what many might call its OG status, the Shiba Inu is still the subject of many critics who believe that the cryptocurrency could lose most of its value in the coming years.
On the other hand, the cryptocurrency investor known as Crypto King sees in SHIB a vision and potential that critics lack. In response to recent criticism from SHIB, Crypto King has taken to social media platform X to dispel claims about the Shiba Inu breed fall while also emphasizing that “OG memes like $SHIB are destined for success.”
A major investor rejects claims that SHIB will lose value
Crypto King’s recent post on social media platform X is a response to criticism of meme coins. According to the critic, most meme coins will lose value in the next few years, with only two or three of them remaining among the top 50 cryptocurrencies. Surprisingly, the critic believes that Shiba Inu, which is currently the second largest meme token and 11th in market capitalization rankings, will lose most of its $13 billion value.
SHIB market cap currently at $6.8 billion. Chart: TradingView.com
In answer, Crypto King he said that the representatives of this school of thought are those who do not know the market themselves yet. SHIB is currently listed on multiple centralized cryptocurrency exchanges around the world, providing many retail traders with adequate exposure to the token. As a result, the investor believes that SHIB is more established than many critics might think. He also compared SHIB’s established status among meme coins to the status of gold compared to a newly discovered crystal that is not worth much.
Shiba Inu to continue growing
The Shiba Inu is home to a vivid community ecosystem. Team members are constantly working to ensure real usability to enable the transition from meme coin status. Over time, the development team built real, practical exploit cases on this foundation. ShibaSwap i Shibarium these are some examples where SHIB provides usability.
SHIB is currently trading at $0.00002317 and has recorded a loss of 2.84% and 6.19% in the last 24 hours and seven days respectively. According to IntoTheBlock’s Global In/Out Of The Money Metric, the SHIB is currently positioned between the 12.7 trillion SHIB retaining wall and the 37.4 trillion SHIB retaining wall. Cryptocurrency could go either way in a week, but a cryptocurrency analyst notes that the price level of $0.000023 is generally the demand zone for SHIB.
Featured image from Hundeo, chart from TradingView
