Shiba Inu has been constantly recovering over the last few weeks, amidst a bearish market. The meme coin had been one of these most significantly hit by the crypto crash. Although the coin has added a few cents back to its value, it is still not on the safe ground. It is currently facing numerous threats to its existence, several capable enough to turn it into the next Terra. Terra recently plummeted to an absolute zero and got delisted from leading crypto exchanges.
In its latest price prediction report that was originally published on May 10, Shiba Inu official remarked, “Things are not looking good for the meme coin Shiba Inu, with our panel expecting it to be worth US$0.000018750 by the end of 2022. This would mark a 7.6% drop in its value from its current price of US$0.00002029.”
The report also went to include some price predictions for the future. The company’s group of 36 experts predicts the price to plummet over the upcoming years and hit the US$ 0.000002500 by 2025 and US$ 0.000000325 by 2030. These numbers have not taken sudden surges into account. So, if the coin sees reignited interest between these years, its value can increase to much more than these numbers.
Crypto experts have also drawn similarities between Terra Luna and Shiba Inu. Much like the previous, Shiba Inu was not built on a real product. It was a meme currency and registered most of its market cap on the hype and not real-world assets. This creates a lack of usability for the Shiba Inu project.
Thus, crypto experts are skeptical that Shiba Inu can end up becoming the next Terra Luna. The lack of usability and continuous sell-off of stocks has already been the chief reason why the coin has lost a bunch of its value over the next six months.