New Delhi The Memecoin Shiba Inu (SHIB) will have no value until 2030 and investors should sell the token now, most fintech experts told price comparison portal Finder.com, which conducted a survey involving 36 experts.
A section of experts said that meme coins, including SHIB, will disappear entirely as the hype ends. “The market is maturing and things like SHIB will die out as capital starts to flow in to quality and value, not hoping that every player wins a prize,” said Matthew Harries, Head of Funds, DigitalX Asset Management. participant, said.
The report was made a week after the value of the Terra UST stablecoin fell 82.19% to $0.6, while Luna crashed from $120 to $0.02.
The downturn in the crypto market that began in April has wiped out billions of dollars in market capitalization within a month. Many 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, rose 300% within nine days in October, joining the top 20 cryptos in terms of market cap. Its value increased due to its low entry price barrier, with the backing of several tech leaders including Elon Musk and Ethereum founder Vital Buterin. It is now priced at $0.00001162 according to Coinmarketcap.