Cryptocurrency trader and analyst suggested that the SHIB meme token could never noticeably rise in price.
Shiba Inu ranks 13th in terms of market capitalization among cryptocurrencies, however, the token price is still very far from one dollar. Some SHIB supporters hope that in the long run its rate will still exceed the important mark, others adhere to more gloomy forecasts and say that SHIB will not be able to rise to it. The latter include the well-known cryptocurrency blogger Lark Davis.
The expert posted a meme on Twitter to illustrate his opinion on this digital asset. The drawing depicts an adventurer who spent more than 15 years in search of a “scroll of truth.” Upon opening the scroll, the character discovers the inscription: “SHIB will never cost $ 1,” and then throws it away with the words: “They said the same thing about DOGE.”
However, the SHIB token managed to resist the pressure of the bearish trend in the cryptocurrency market. Last week, on September 7, the crypto asset fell to $0.00001183, which was the minimum value for the month. However, by September 9, in just two days, the SHIB rate rose by more than 16% to $0.00001379. The total volume of SHIB is 589.63 trillion tokens, and this may be one of the main factors preventing the crypto asset from reaching the $1 mark.
Recently, there has been a tendency in the community to accumulate SHIB coins. In March, a major Ethereum holder bought 271 billion Shiba Inu worth $6 million. It was recently revealed that one major Ethereum investor
accumulated to SHIB 536 billion worth more than $7 million. However, he later got rid of part of the assets by selling 19.20 billion tokens worth $252,096.
In July, the Shiba Inu team announced the launch of their own stablecoin, and in the same month signed an agreement with the American visualization studio The Third Floor to create the SHIB: The Metaverse Project.
Source: Bits
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