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A cryptocurrency trader and analyst suggested that the SHIB meme token could never significantly increase in price.
Shiba Inu ranks 13th in marketcapitalization among cryptocurrencies, however, the token rate is still very far from one dollar. Some proponents of SHIB are hopeful that it will eventually surpass the milestone, while others are more gloomy and say that SHIB will not be able to rise to that level. The latter includes the famous cryptocurrency blogger Lark Davis.
An expert tweeted a meme to...illustrate your opinion about this digital asset. The picture depicts an adventurer who spent more than 15 years searching for the “scroll of truth.” Opening the scroll, the character discovers the inscription: “SHIB will never cost $1,” and then throws it away with the words: “They said the same thing about DOGE.”
However, the SHIB token managed to survivefacing the pressure of a bearish trend in the cryptocurrency market. Last week, on September 7, the crypto asset fell to $0.00001183, which was the minimum value for the month. However, by September 9, in just two days, the SHIB rate increased by more than 16% to $0.00001379. The total supply of SHIB is 589.63 trillion tokens, and this could be one of the main factors preventing the crypto asset from reaching the $1 mark.
Lately the community has been seeingaccumulation trend of SHIB coins. In March, a major Ethereum holder bought 271 billion Shiba Inu worth $6 million. It recently became known that one major Ethereum investor
accumulated up to 536 billion SHIB worth more than $7 million. However, he later got rid of part of the assets by selling 19.20 billion tokens worth $252,096.
In July, the Shiba Inu team announced the launchits own stablecoin, and in the same month signed an agreement with the American visualization studio The Third Floor to create the metaverse SHIB: The Metaverse Project.
