Shiba Inu (SHIBA) - course to the bottom
According to Google Trends, the popularity of the "meme" token Shiba Inu in the Google search engine has fallen almost 10 times in the past three months. The peak of interest in the token came at the end of October 2021, when the cryptocurrency reached a historical high above $0.000088, writes RBC.
The token is currently trading just above 0.000020, having fallen more than four times from its record peaks.
Recently, crypto-kits have been very active in buying up SHIB, but these purchases do almost nothing to help the cryptocurrency.
In addition, the developers use a proven combustion mechanism. Every week, they send a certain amount of coins to a blocked wallet, which completely eliminates these coins from circulation.
Last week 332 million Shiba Inu were burned in this way. Such a move attracts the attention of potential buyers, instilling in them a myth about the stability of the asset, writes overclockers.
However, even if you burn 332 million coins every week - it would take 15 thousand years to burn even half of all the coins.
A lot of money has been invested in the new Shiberse metaworld as well. The developers of Shiba Inu are widely advertising the project, which will offer excellent graphics along with an incredible gamer experience.
Despite all the above actions, Shiba Inu continues to fall in price, and investors look with disappointment at the collapse of the cryptocurrency. Many experts are confident that there is no place for "meme" tokens in the future.
It is still unclear how governments are going to regulate and , but the "meme" cryptocurrencies may be abandoned due to clear signs of fraud during their creation.