The market is still down, although most of the coins have recorded an impressive recovery in the last few hours. Among the coins that have recorded a good recovery this time is Shiba Inu, which had been one of the cryptocurrencies hardest hit by the bear market. But cryptocurrency experts warn that Shiba Inu is not out of the woods yet. There are still many threats surrounding this coin that could turn it into the next Luna.
According to crypto experts, Shiba Inu is almost in the same category as Luna. They are projects that have not been built on a solid product. They have no real use cases. The biggest challenge for the Shiba Inu project is the lack of usability. This is because Shiba Inu started as a meme currency and built its huge marketcap based on hype and not on a real product.
This is why experts warn that Shiba Inu could be the next Terra Luna, especially if the whales continue to sell. Lack of use cases has also been identified as one of the main reasons why the price of Shiba Inu has plummeted in the last 6 months.
Lack of use cases and the rise of Bitgert affect Shiba Inu
In fact, many investors in Shiba Inu have been selling to join stronger projects with real use cases. Some of these projects have included Bitgert (BRISE), one of the fastest growing cryptocurrencies. As Shiba Inu has been losing investors, the number of Bitgert holders has been increasing.
Bitgert is also among the few cryptocurrencies that have maintained stable prices during the current bear market. This is because Bitgert investors were still holding on, and there were many new investors joining the project. This demonstrates the strength of Bitgert.
The Bitgert team is building one of the most useful blockchain projects in the industry. The Bitgert ecosystem has a range of products ranging from DeFi, NFTs and Web3 products. Some of Bitgert’s core products have already been released and are the reason why Bitgert is a solid project.
Bitgert has built its own blockchain, the BRC20 blockchain, while Shiba Inu is still running on the Ethereum blockchain. Bitgert’s BRC20 blockchain is also the fastest blockchain and has a zero gas rate. There are many exciting products and projects that the Bitgert team is adding to this ecosystem.
In conclusion, Shiba Inu has to get a real use case, or it could become the next Moon. In the meantime, Bitgert is expected to continue to grow exponentially due to the enormous utility it offers.
Bitgert is also expected to attract more Shiba Inu investors if the price of SHIB continues to fall.
So is it recommended to sell?
Not necessarily, as forecasts, while seemingly accurate, may not come true or materialize as predicted. Many analysts are still pinning their hopes on Shib.
The good news is that traders around the world continue to transact in Shiba Inu. Recently Gucci has begun accepting Doge and Shiba.