Shiba Inu may be the Next Memecoin to go Bust

Following the crash of cryptocurrency Luna earlier this month, meme-based token Shiba Inu could be next. At least, that's what a group of specialists polled by cryptocurrency research firm Finder believe.

"The meme coin Shiba Inu isn't looking good, with our panel projecting a value of $0.000018750 by the end of 2022. "This would represent a 7.6% decrease in value from its current price of $0.00002029," the business claimed in its most recent price forecast report, published on May 10.

According to the paper, Shiba Inu's value will "plummet," closing at $0.000002500 in 2025 and $0.000000325 by 2030's end, according to a group of 36 specialists. To be sure, Finder's valuations don't foretell whether the token will enjoy a boom in the interim, so short-term traders could still profit even if it goes to zero.

The crash of stablecoin UST and Luna, the two Terra blockchain network assets, should serve as a warning to ordinary traders. The New York Times reported yesterday that the majority of the losses in Luna's dramatic collapse were suffered by individual investors, many of whom lost their life savings when the token knocked $40 billion from the crypto market.