Shiba Inu Survived the Crashes — Why SHIB Isn’t Just Another Meme Coin

• Shiba Inu marketing lead has disclosed that influencers who ignored the meme coin in the summer of 2021 are now asking what “the next SHIB could be”.
• According to Lucie, “there is no next”, and the asset would continue to rise while the others follow.

Shiba Inu marketing lead Lucie has lauded the resilience of the SHIB token after surviving one of its worst crashes. Recounting some of the difficulties encountered on its journey to this point, Lucie highlighted how the asset made a significant nosedive from its peak in 2021.

Shiba Inu’s (SHIB) Ups and Downs

According to a historical chart, the SHIB/BTC pair has, for instance, fallen by 91% since 2021. Getting to the end of 2022, SHIB had declined by 73% on its year-to-date chart. At that time, the asset followed the direction of the broad market, which had also reached a total valuation of $810 billion from an all-time high of $2.9 trillion, which was recorded in the previous year.

As indicated in the chart below, SHIB has seen lower highs and lower lows for about four years now. Meanwhile, the price has not always been like this.

Source: TradingViewBetween August 2020 and October 2021, SHIB printed an astronomical gain of 85,000,000%, creating millionaires overnight. According to research, investors who committed $1000 to the asset on August 1, 2020, when it was trading at $0.000000000510, likely made $17.25 million on May 31, 2021, when the price was $0.0000088.

Today, SHIB is trading at $0.00001143 after declining by 1.4% in the last 24 hours. According to our recent analysis, SHIB could make a 1000% surge this cycle. In the near term, another analyst has predicted that the asset could rise by 500%.

Reason for the Ecosystem Growth

Speaking on why the asset has still managed to become one of the most talked about coins in the ecosystem and the second largest meme coin behind Dogecoin, Lucie highlighted that the community has always backed SHIB. According to her, there have been hardworking believers who refused to dump it after the 2021 crash.

Within that period, there were rumors of Coinbase postponing SHIB listing. Others suggested that Binance would delist the asset, while many argued that “SHIB is Dead”. According to Lucie, this caused the price to fall from $0.000034 to $0.000007 in just a few months.

Speaking on the massive turnaround, Lucie highlighted that the influencers who ignored the asset years ago are now asking, “What is the next SHIB?”. However, she believes that “there is no next.”

The point is: There is no next SHIB. SHIB continues, and all assets will rise. Because those influencers have no conviction.

Over the past several months, the SHIB team has been working tirelessly to position the asset beyond the meme narratives. As noted in our recent post, the Shib Alpha Layer has officially gone live to allow users to interact with multiple RollApps. Fascinatingly, the team has also launched a community-driven governance platform, ShibDAO, to eliminate opaque decision-making processes as highlighted in our previous news story.

Apart from these, SHIB could also follow DOGE in the Exchange Traded Fund (ETF) “craze” as Lucie confirms that a plan is in motion, as detailed in our earlier publication.