In the face of the SEC’s unyielding opposition towards cryptocurrency exchanges and select cryptocurrencies, it is high time for us to take matters into our own hands and initiate a thorough internal purge. Our focus will be on a cryptocurrency that has left a staggering 85% of its holders in a state of unrecoverable losses, yet the crypto media continues to chant the mantra of “buying the dip.”
Let it be clear from the outset that this article will be devoid of bias or personal preferences, delivering only unfiltered facts and a holistic perspective. Our objective is to provide rational insights, fostering transparency and comprehension.
Shiba Inu, a cryptocurrency hyped to the heavens, embodies the epitome of uselessness while enjoying an unwarranted social acceptance. Alongside the likes of Doge, Floki, Pepe, and a multitude of other memecoins, it stands as an emblem of futility. These are coins one acquires only to cling to spiritual hopes of a miraculous rally to the moon. However, let us not forget that hope can be a deadly trap.
The prevailing consensus surrounding Shiba Inu is to seize it at any price before it sails away, and even as it plummets, the advice remains unchanged: keep buying, as one day the rewards shall be bountiful. But what if that day never arrives? For those skeptical, we ask, how can you explain the fact that a staggering 85% of Shiba Inu holders find themselves swimming in a sea of losses?
Shiba Token summary – Source: intotheblock
Or why the bulk of Shiba holders that came after the meteoric rise of 2021, have not made a dime on their investments? Perhaps the truth hurts.
Shiba Inu 2020-2022 Price history – Source: Statistica
Do you need further proof of the scam token? There are a handful more reason.
Constant Drop in $SHIB Trading Volume
AMPLIFY YOUR VOLUME! VOLUME!! VOLUME!!! Volume epitomizes the act of backing up your words with cold, hard cash. Brace yourselves for the unparalleled case of Shiba, drowning in an abyss of hype and feeble trading activity, as its volume sinks to unimaginable lows.
How do we even begin to fathom a $4 billion market cap coin that boasts a pathetic volume-to-market cap ratio of a mere 2%? Let’s put this into perspective, shall we? Doge, with its lower total supply, flaunts a volume-to-market cap ratio of 5%, while pepe flaunts a staggering 55%. Yes, you heard that right, 55%! It’s an outright insult to rationality.
Shiba’s feeble volumes speak volumes about its true worth, or rather, lack thereof. Don’t be fooled by the deceptive allure of this hype-driven monstrosity. It’s time to face the harsh reality that Shiba is nothing more than an empty vessel, floating aimlessly in a sea of exaggerated claims and underwhelming trade activity.
Shiba Inu 24 hour trade volume from August 1, 2020 to August 3, 2022 Source: Statista
Comparing the volume to the token price reveals the same trend.
Shiba Inu Token Price to trading Volume – Source: whalestats
The Potential Market Manipulation by the small group of Whales
Another infuriating aspect that sends alarm bells ringing when contemplating Shiba Inu as a viable investment is the infuriatingly massive concentration of tokens within a select few wallets. Prepare to be astounded: out of the supposed 1.2 million token wallet holders, the top 20 token holders shamelessly seize control of a whopping 23% of the entire token supply. Can you believe the audacity? It’s nothing short of outrageous!
And let’s not forget the shrewd maneuverings witnessed within the crypto market. Suspicion grows rampant as a perfectly executed trade surfaces, conveniently timed just before the grand announcement of the Shibarium metaverse. Such calculated actions, my friends, leave a sour taste in our mouths and expose a glaring lack of integrity.
Shiba Inu’s lackluster distribution and questionable market activities leave an insatiable hunger for transparency. We demand more, we deserve more, and it’s high time these inadequacies are laid bare for all to see.
Shiba Inu top 20 Wallet Holders 2023 – Source: whalestats
Shiba Inu Lacks Competitive Advantages
Shiba Inu (SHIB) and its abysmal lack of competitive advantages represent a fundamental flaw that relentlessly undermines its very existence in the cutthroat crypto market. By merely piggybacking on the Ethereum blockchain as an ERC-20 token, it willingly embraces the same obstacles faced by Ethereum, such as exorbitant transaction fees and agonizing processing delays. What a pitiful attempt at differentiation!
There is simply nothing about SHIB that sets it apart or grants it any unique appeal compared to its counterparts. Why would investors and users waste their precious time and resources on SHIB when there are countless other cryptocurrencies and memecoins vying for attention? The race for the next groundbreaking memecoin is a fierce battleground, and SHIB is but a decrepit vessel that has long sailed, becoming irrelevant in the eyes of intelligent investors.
The lack of foresight and distinctiveness plaguing Shiba Inu paints a grim picture for its future prospects. It is a feeble contender, lost amidst a sea of superior alternatives, destined to fade into obscurity. The crypto market demands innovation, resilience, and genuine value, qualities that SHIB has proven itself incapable of delivering.
History Will Likely Repeat Itself? Lol, No.
Prepare for a harsh reality check when it comes to evaluating Shiba Inu as an investment option. Pay close attention to its historical performance and the undeniable pattern witnessed across the cryptocurrency market. Brace yourself, for history has proven time and again that cryptocurrencies which skyrocket in value within a brief period are bound to suffer catastrophic reversions and brutal price corrections.
Oh, the tales of past glory! We’ve seen cryptocurrencies achieve mind-boggling gains, soaring anywhere from 24,000% to a jaw-dropping 461,000% in the blink of an eye. But mark my words, my friends, what goes up must come crashing down. Following those dizzying heights, these very same cryptocurrencies experienced catastrophic declines, plunging a devastating 93% to 99% in value over the following months. And guess what? They never recovered, doomed to languish in the depths of insignificance.
Let this historical pattern serve as a relentless warning to all who dare consider investing in Shiba Inu. Though this coin may have boasted significant gains in the past, the cold, hard truth is that the chances of it rising again are slim to none. Don’t let blind optimism cloud your judgment. The writing is on the wall, and it’s time to face the bitter reality: Shiba Inu is poised for a reckoning from which it may never recover.
High Supply and Inflation
Shiba Inu’s tokenomics are an absolute nightmare, posing insurmountable hurdles for any hope of long-term value appreciation. Just take a moment to grasp the sheer magnitude of the problem. Trillions of these lackluster tokens flood the market, rendering scarcity and exclusivity nonexistent. Without these key drivers, how can we even begin to expect any meaningful value in the cutthroat cryptocurrency landscape?
But that’s not all. Brace yourselves for the devastating truth. Shiba Inu’s exorbitant supply unleashes an unrelenting onslaught of inflationary pressure, mercilessly eroding the coin’s worth. Long-term holders find themselves entangled in a fierce battle, desperately trying to cling to any semblance of value. Yet, in this uphill struggle, their efforts are in vain. The colossal supply weighs down on the coin, suffocating any chance of maintaining its value or attracting sustainable demand.
Let this be a cautionary tale to those enticed by the illusion of Shiba Inu’s potential. Its tokenomics are an utter catastrophe, dooming any aspirations of long-term success. Don’t fall victim to false promises and inflated dreams. The reality is grim: Shiba Inu’s immense supply will forever be its Achilles’ heel, ensuring its descent into irrelevance and crushing the hopes of all those who dare hold on.
Questionable Development and Community
Shiba Inu plunges into the depths of doubt with its deeply questionable development team and lackluster community support. Prepare for the harsh truth, for there are unsettling mysteries surrounding the very identity of its creator, the elusive “Ryoshi.” An anonymous figure, lurking in the shadows, raises a cacophony of suspicion regarding their true intentions and commitment to the project’s triumph.
But that’s just the tip of the iceberg. Brace yourself for the grim reality. The Shiba Inu community predominantly consists of retail investors, lured in by the coin’s flashy branding and shallow association with the meme coin craze. Yes, the same fickle frenzy that is known for its fleeting allure. While community enthusiasm may temporarily ignite a spark, let us not be deluded. It holds no guarantee of sustainable growth or the establishment of a robust ecosystem. And let’s not forget the catastrophic absence of seasoned developers, coherent leadership, and a transparent roadmap, further eroding any semblance of credibility Shiba Inu might have possessed.
With such a lackluster team and an unstable community, Shiba Inu’s fate hangs by a thread. It is a mirage, a house of cards, crumbling under the weight of its own inadequacy. Do not be deceived by the false promises, the catchy facade. The truth is undeniable: Shiba Inu lacks the necessary pillars for success, making it nothing more than a treacherous pitfall for those foolish enough to fall into its trap.
Listen up and listen well! It’s time to shatter the illusions surrounding Shiba Inu. Remember this: past performance holds no sway over future outcomes. So, before you even think about buying into this sinking ship, you better reconsider with every fiber of your being.
Beware the tightening grip of the SEC! The regulatory watchdog has begun its merciless crackdown on cryptocurrencies, and let me tell you, they won’t be stopping at exchanges. Oh no, my friend, their hunger for control knows no bounds. If the judgment day, orchestrated by none other than Gary Gensler himself, extends its vengeful reach to tokens, do you honestly believe that Shiba will emerge unscathed?
Picture it: Shiba, gasping for air, drowning in the storm of regulatory scrutiny, its survival hanging by a thread. Are you willing to place your faith in such a fragile and volatile creature? Think long and hard, for the consequences could be dire. The storm is approaching, and Shiba Inu stands as nothing more than a sacrificial lamb, destined for slaughter.
Take heed of these words of caution, for they may be your only lifeline amidst the impending chaos. Shiba’s fate teeters on the edge of oblivion, and to invest in its uncertain future is nothing short of sheer recklessness. Choose wisely, or be prepared to face the merciless consequences.