Will the Shiba Inu Follow in Terra’s Footsteps Towards a 99% Decline?

Shiba Inu is currently falling rapidly, which has brought a nightmare to investors.

The price of Shiba Inu has plummeted for some time, and cryptocurrency experts believe it may plunge further. At present, the cryptocurrency market is in the worst position, because Bitcoin plunged below $29000, damaging the whole cryptocurrency market.

The situation is so bad that even stable coins are now diving. TerraUsd “decoupled” from its $1 value and pushed its sister token Terra Luna below 97%, killing 95% of investors’ profits. Experts believe that if Shiba Inu continues this downward trend, the cryptocurrency will decline more. The price of Shib tokens indicates that more price declines may occur for this self proclaimed ‘Dog Coin killer’.

At present, the biggest problem of any cryptocurrency is the reduction in the number of transactions, the decline in the holder’s account, and the decline in the price of all tokens. According to the data of coinmarketcap, at present, the price trend of Shiba Inu is US $0.0000105. Shiba Inu is rapidly losing the support of its investors, who believe that buying the limit will lead to a profitable decision.

On the contrary, the price of Shiba Inu kept falling, swallowing itself in a bearish mode. Due to the falling conditions of Shib tokens, developers rushed to take action to make up for its falling value. Their passive token holders are also allowed to burn a new token on the exchange. This is good for investors because Shib tokens are scarce and will be the first choice in times of inflation.

Unfortunately, even rising global inflation conditions have led investors to look for more concentrated and traditional forms of assets rather than cryptocurrencies.

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The price of cryptocurrency is falling wildly, which discourages many investors. Shiba Inu joined the Robinhood exchange in April, but that was only enough to keep its prices and trading activities from increasing. Throughout the first quarter of 2022, the transaction volume of Shib tokens has been dragging down below 70%.

According to a report released by Robin Hood, trading activities in the millennials who helped prosper the cryptocurrency market are finally dying out. Cryptocurrency revenues have fallen by 39%. Therefore, not only Shiba Inu, Terra and or Bitcoin, but all cryptocurrencies have declined together. If we especially talk about Shiba Inu, investors’ trust in this cryptocurrency has been broken too many times.

It has always been criticized by cryptocurrency experts, which is enough to keep investors away from it. As early as April, when it was listed in Robinhood, there was no actual performance, and investors further turned to other investment assets.

In conclusion, it is difficult to predict whether Shiba Inu will really follow Terra’s example, because volatility will lead to the diving and soaring value of cryptocurrency. Therefore, this may not be the time to lose all hope, but when it comes to investment, cryptocurrency buyers and traders should certainly consult financial advisers before sneaking into the cryptocurrency market.