Forecasts for the Shiba Inu (SHIB) have turned negative, according to a new Finder report. The report shows that SHIB, the second largest meme coin, is heading for sharp losses this year, with the majority of market participants answering that “sell”. Here are the details…
Negative forecast for Shiba Inu
A report from blockchain data firm Finder showed that 73 percent of respondents in a survey were of the opinion that traders should sell SHIB. Finder surveyed 36 fintech experts. The general consensus is that the SHIB will gradually lose its value by 2022 and will have a near-zero value by 2030.
The token is trading well below the report’s projected level for the end of 2022. SHIB is currently at $0.00001236, while the Finder report expects the token to end the year at $0.00001875. However, it is worth noting that SHIB’s latest cryptocurrency crash is behind this price drop. As Cryptokoin.com also reported, this collapse, which caused BTC to see its lowest levels in the last year, surprised many market participants. Finder analysts noted that meme coins like SHIB offer little benefit and prices are driven by hype around the community.
Experts: “Things like SHIB will die”
According to Finder, technical indicators are also pointing to selling on meme coin #2. SHIB is expected to drop to $0.0000025 by 2025 and near zero by 2030. Things like SHIB are thought to die out as the market matures and capital begins to flow into quality and value rather than being scattered across the field in hopes of each player winning a prize. Matthew Harry, head of fund, DigitalX Asset Management, told Finder:
With market-changing events like Terra’s recent crash, investors can become more savvy about what they’re buying. Rising inflation and interest rates are also expected to reduce liquidity, which played a key role in SHIB’s rise in 2021.
43733
