Stocks to sell

Shiba Inu: Why the Metaverse Isn’t a Viable Way to Save it Now

  • The future of the Shiba Inu (SHIB-USD) metaverse does not seem bright.
  • The price predictions in 2022 and 2030 for the meme coin still show optimism.
  • There is zero chance at a 10X return in the next year.
Source: Alfa Grandpa / Shutterstock.com

Shiba Inu (SHIB-USD), the “Dogecoin killer” and an “experiment in decentralized spontaneous community building” has run out of gas. The stock is now down 71% over the past six months. As in the case of Dogecoin (DOGE-USD), I have a long-term bearish view on this meme coin, and history has proved me to be correct. If you had invested any amount of money in SHIB at the start of 2022, you would have lost big time.

The meme coin made its rallies in 2022. One was in early February for about a week. However, for the majority of 2022, the dominant trend is to the downside. This should not be a surprise.

Can Shiba Inu reach one cent? Will it reach one cent in 2022? It’s highly unlikely this will happen, as the current price is $0.000011.

Here are two reasons that support my bearish thesis and the latest price predictions for the meme coin. Would I buy it now? No way.

Ticker Company Price
SHIB-USD Shiba Inu USD $0.000011

Will the Metaverse Be a Game-Changer?

It is not just the fact that most Shiba Inu investors have been losing money in 2022. Where is the utility? Where is the value?

This article published by Marca states: “According to DigitalX Asset Management Matthew Harry, there’s no secure future with SHIB.” Harry states: “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.”

At some point, the hype will be over once and for all. Being a meme coin, SHIB investors are not seeing any profits. Chances are that without a high demand for a clear utility, the metaverse will not do miracles for Shiba Inu.

How High Can it Go?

SHIB has a wide range of price predictions.

Coin Price Forecast expects Shiba Inu to end 2022 at $0.000002175. Wallet Investor estimates that by the end of 2022, Shiba Inu could reach $0.0000346. Digital Coin Price is not bullish as it does not expect much of a change in the coin’s current price by the end of the decade.

By the year 2030, the coin could test the $0.001 price target. I think this prediction has a very slim chance of coming true. I would go even further and predict that without sustainable utility, Shiba Inu will move to zero rather than one cent.

A 10X Return in 1 Year? Not Likely

If you believe that SHIB might multiply 10x in the next year, then you should reconsider this wishful thinking.

We are in a bear market for cryptocurrencies. An increasing number of whales are selling it. Additionally, other crypto projects seem more interesting and viable right now.

Why invest in Shiba Inu now? The sole reason is speculation. The fundamentals behind this meme coin are simply nonexistent. The journey to the moon has met a powerful factor that changed everything: gravity. Gravity is logic and common sense about the valuation of Shiba Inu.

Can SHIB make any rallies in 2022? I cannot say no. I believe these potential rallies will be short-lived and selling pressure will resume. Avoid Shiba Inu at all costs.

On the date of publication, Stavros Georgiadis, CFA  did not have (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.

Stavros Georgiadis is a CFA charter holder, an Equity Research Analyst, and an Economist. He focuses on U.S. stocks and has his own stock market blog at thestockmarketontheinternet.com. He has written in the past various articles for other publications and can be reached on Twitter and on LinkedIn.

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