Memecoins have made many people rich in the past. Dogecoin’s closest competitor, Shiba Inu, was no different. As 2024 is almost upon us, a very important question remains for Shiba Inu (SHIB) investors. The question is whether it is possible for the memecoin to repeat its past successes or even surpass them?
What Do Shiba Comments Say?
One of the key factors behind the sustainability of a particular cryptocurrency’s success may be its versatility. When it comes to Shiba Inu, the confidence investors have in Shibarium significantly supports this view.
This confidence can be measured by the number of transactions that take place. Recently, Shibarium surpassed a significant level of 200 million transactions, as highlighted by crypto analyst and SHIB supporter Lucie in a post on December 27th.
Surpassing this important milestone highlights the activities of traders who are working hard to drive the price back up to its all-time highs and the resulting confidence.
What Will Shiba Coin’s Price Be?
As another indicator of support and confidence, the movement of cryptocurrencies from exchanges to wallets can be cited. This suggests that investors are not planning to sell their cryptocurrencies for short-term profits or until a visible profit is achieved.
Some transactions since November have caught the attention of famous crypto analyst Ali Martinez. In a post shared on December 24th, Martinez pointed out that a significant withdrawal transaction of over 8 trillion SHIB, equivalent to about 88 million dollars, was made from crypto exchange wallets.
The founder of TheFinanceHaberleriletter.com, Andrew Lokenauth, shared his comments on SHIB’s fundamentals and future, as well as his prediction for the beginning of 2024.
According to Lokenauth, Shiba Inu is nothing more than a purely speculative asset that lacks concrete real-world applications, is limited by rumors, and lacks intrinsic value or utility.
Criticizing the developers for poor transparency and communication, he emphasizes the cryptocurrency’s limited ecosystem compared to other major counterparts, making it susceptible to volatility.
Additionally, Lokenauth draws attention to the competition between SHIB and other dog-themed memecoins, including Dogecoin (DOGE).
Considering the absence of significant catalysts and the bear market affecting speculative assets, Lokenauth indicates that SHIB will experience a continuous decline, predicting its price will be $0.000005 at the beginning of 2024.
