Over the years, Shiba Inu (SHIB) has become one of the biggest meme coins. In the early days, the coin was mainly in the shadow of Dogecoin (DOGE), but it has managed to create its own identity. Despite these positive developments, there are still many critics who believe that the second largest meme coin could lose most of its value in the coming years.

On the other hand, a crypto investor known as Crypto King still sees a lot of potential in SHIB. In response to the recent SHIB criticism, Crypto King turned to social media platform ”

Major investor rejects claims that SHIB will lose value

Crypto King’s recent post on social media platform X is in response to a major critic of meme coins. According to the critic, the majority of meme coins will lose their value in the coming years, leaving only two or three of them in the top 50. Surprisingly, the critic believes that Shiba Inu, currently the tenth largest cryptocurrency by of market capitalization, will lose most of its value.

Crypto King clearly stated that he disagrees with this as SHIB is listed on many centralized crypto exchanges around the world, giving many retail traders ample exposure to the meme coin. As a result, the investor thinks SHIB is more established than many critics think. He also compared SHIB’s established status among meme coins to that of gold compared to a newly discovered crystal that isn’t worth much.

SHIB community continues to grow

Shiba Inu are home to a vibrant community ecosystem. Team members are constantly working to provide practical usability, in an effort to shake off its meme coin status. Over time, the development team built real, practical use cases on this foundation. ShibaSwap and Shibarium are some examples where SHIB offers utility.

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 In/Out Of The Money Metric, SHIB is currently sandwiched between a 12.7 trillion SHIB resistance wall and a 37.4 trillion SHIB support wall. The cryptocurrency could go either way during the week, but one crypto analyst notes that the $0.000023 price level is generally a demand zone for SHIB.

Source: https://cryptobenelux.com/2024/06/10/crypto-king-vertelt-waarom-shiba-inu-shib-voorbestemd-is-om-het-te-maken/

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