- A panel of experts has issued a grim price prediction for Shiba Inu (SHIB-USD)
- A 70% consensus believes that the meme token will hit $0 by 2030
- The analysts strongly believe that this is the time for Shiba Inu crypto investors to sell
Shiba Inu (SHIB-USD) is back in the green today, but experts don’t expect it to stay there in the long term. Market research and analysis platform Finder recently surveyed 36 specialists from the fintech sector on the token. In a few words, they see Shiba Inu crypto heading straight to the bottom.
Let’s take a closer look at the survey and see what these experts have to say about the future of SHIB.
Where the Shiba Inu Crypto Stands Today
Crypto prices have faced an uphill battle following the recent crash. That said, while altcoins have struggled, Shiba Inu price predictions have remained fairly bullish. The token spiked by 12% after plunging alongside other cryptos in the wake of last week’s market selloff.
But as InvestorPlace contributor Chris MacDonald reports, “with a Federal Reserve intent on hiking rates, cheap liquidity that flooded the crypto market isn’t going to be cheap for much longer.” This means that investors are going to keep employing the type of risk-averse mindset that leads them to sell off assets like Shiba Inu crypto.
While SHIB is up almost 3% as of this writing, it remains in the red for the week and has fallen considerably since last month. This overall downward trajectory may be foreshadowing of what’s coming for the meme token.
Where It’s Going
What exactly does Finder’s survey say about the Shiba Inu crypto? Of the 10 panelists who issued price predictions, 30% expect SHIB to sink to $0 before 2023. 60% see it happening by 2025, and 70% think it will reach the bottom by 2030. The average predictions from the panel were that SHIB will be worth $0.000018750 by the end of this year, $0.000002500 by 2025 and will ultimately plunge to $0.000000325 by 2030.
Among the panelists was Matthew Harry, director of funds at DigitalX Asset Management. Harry sees SHIB finishing the year at $0.0001 and shedding all remaining value in the following two years. “This market is maturing and things like SHIB will die as capital begins to flow to quality and value rather than being scattered across the field in the hope that every player wins a prize,” he stated. “That’s not how things work. Hype dies, value rises.”
Dimitrios Salampasis, a director and lecturer at Australia’s Swinburne University of Technology, shares Harry’s position. In the economy Salampasis foresees, “All these joke-type coins will disappear and leave space for actual innovation and cryptoassets that can serve proper use cases.”
Above all, the survey revealed one overwhelming consensus that should be hard for investors to ignore. 73% of the panelists believe that the time to sell SHIB is now. Finder co-founder Fred Schebesta says of the token, “Being a meme coin I don’t have a lot of hope for the future of shiba. I see long term this coin going close to zero, without being able to provide proper utility.”
The Bottom Line
It’s hard to say for sure where the Shiba Inu crypto will go, but Finder’s panelists make a convincing case. Even throughout the pupcoin pack’s rise in 2021, plenty of critics raised doubts about Shiba’s long-term potential. Now that financial markets are facing more rate hikes from the Federal Reserve, the future looks grim for altcoins, and especially for meme tokens.
In August 2021, InvestorPlace contributor Ian Bezek stated that “Shiba Inu is a dog that just won’t hunt.” The token’s recent performance, combined with the panel’s damning predictions, suggest that his assessment was correct.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.