Right after Vitalik Buterin donated roughly 50 trillion of Shiba Inu, there has been a continuous decreased value since then, with a small boost every once in a while. People want to know, will Shiba Inu ever make a comeback?
The donated amount equates to almost 5% of the total asset flow along with the relief fund set by Sandeep Nailwal, an Indian entrepreneur. Meanwhile, when the famous Elon Musk posted a tweet about how Shiba bred on his way to make a donation to the fund, the price of Shiba Inu skyrocketed overnight.
Is it worth buying the dip on Shiba Inu coins?
According to Binance, the current price of Shiba Inu is $0.003666, representing a 3.13% decrease over the last 24 hours. The market cap is steadily approaching $3 billion, which can be considered decent considering all the bad news associated with this coin.
If you look at the weekly chart of Shiba Inu, you would see a steady decrease starting from about $0.50 when it all started back in December 2017 until now.
Investors need a reason to stay in Shiba Inu.
According to traders, the Shiba Inu price is heavily influenced by speculators who are waiting for the reversal of fortunes so they can sell their coins as soon as possible. When a big name like Vitalik Buterin or Elon Musk makes some positive comments, it would definitely lead to a massive increase in value. However, if the two were in fact manipulating its price, they wouldn’t want the public to know.
Can Shiba Inu reach $1 again?
The chances of reaching $1 are almost none, considering the current price value. Let’s put things into perspective: The latest Shiba Inu coin is nothing like the old Gen 2 version. Vitalik Buterin added a blockchain to them, which makes them more similar to Ethereum than Bitcoin in terms of functionality. In addition, Vitalik Buterin was very generous by donating 50 trillion coins to make up for the lost funds.
What investors or traders need to remember is that if Blockchain can go mainstream and can successfully replace the current traditional technology, then Shiba Inu coins would be worth billions of dollars.
It may be a long shot or a pipe dream, but blockchain technology has improved significantly over the past few years. So, it’s not impossible that 50 trillion Shiba Inu coins will eventually turn into 10 quadrillion Shiba coins in the future.
Only time would tell how long this waiting game is going to continue.
