There has been some speculation that the coin will rebound as time goes on, but it’s unclear when that will be since the hype around the coin is gone.
“SHIB coin could certainly continue to trend upward, and it could be a Dogecoin killer, but this doesn’t matter in the slightest,” according to Investor Place. “Being the Dogecoin killer won’t give Shiba Inu any validation in the long-term. A meme coin that beats out another meme coin is still foundationally unstable.”
Dogecoin, meanwhile, has been around for eight years, as I’ve written for the Deseret News. The coin has only made national headlines recently because of Dallas Mavericks owner Mark Cuban and Tesla founder Elon Musk hyping up the coin through social media.
The Investor Place experts said the Shiba Inu token’s community is vibrant and dedicated to the coin. But the coin has to last long term, and it’s hard to do that when much of its value is tied to social media hype.