Shiba Inu added a zero yet again on Wednesday as its price dipped close to 5% in the charts. It is now trading in the $0.000009 range and showing weak sentiment. It once commanded a strong and loyal community that swore by SHIB through thick and thin. The loyalty is now tested, as the token has been down for way too long for anyone to handle.
The hype and buzz of Shiba Inu was the talk of the town in the cryptocurrency circles. It attracted hordes of new and first-time investors into its bandwagon, signaling it’s here to stay. However, concerns were doing the rounds that SHIB could collapse and wipe away all investments. The downturn for two consecutive years aided the belief that the token is nearing its end.
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Shiba Inu Will Thrive and Survive, Says the SHIB Team
LucieSHIB, the marketing head at SHIB, addressed the concerns, highlighting that the token is not only here to stay, but it will soon rise like a phoenix. She explained that many look-alike meme currencies vanished without a trace, but Shiba Inu is still holding strong. The token remains in the charts despite taking several hits and is still under the top 100 cryptocurrencies.
“Projects spend millions on marketing only to vanish in a year or two. They change blockchains, rebrand, and fade away. The SHIB ecosystem took every hit, but it’s still here, still building, still fighting. We don’t need to mention other projects to have something to say,” she tweeted.
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However, Shiba Inu’s lead developer Shytoshi Kusama has mostly remained silent on social media since September. The last he tweeted was on September 16, highlighting “that my focus now lies outside SHIB as I push for AI initiatives to better all our token,” he wrote. In conclusion, SHIB will not collapse and is holding on in the charts.
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