Shiba Inu Price Forecast As Analyst Calls SHIB a “Relic of Past”
The post Shiba Inu Price Forecast As Analyst Calls SHIB a “Relic of Past” appeared on BitcoinEthereumNews.com.
Shiba Inu (SHIB) has recently experienced a notable price surge, drawing attention to the meme-based cryptocurrency. However, analysts remain doubtful about its future, with one labeling SHIB a “relic of the past.” While still popular, concerns about its long-term sustainability continue to grow in the evolving crypto market. The crypto market today has sparked renewed optimism among investors, with Ethereum showing strong upward momentum. Currently trading around the $2,600 mark, ETH has seen a significant bullish trend over the past week. This rise, amounting to an 8% increase, reflects growing confidence in the market. The bullish trend is also spreading to other coins within the Ethereum ecosystem. Notably, Shiba Inu Coin is among the tokens benefiting from Ethereum’s surge, further bolstering market sentiment. Shiba Inu Price Fumbles as Analyst Calls SHIB Relic According to Murad, a cryptocurrency expert who shared an X post, meme coins are experiencing a shift in relevance this cycle. In a recent list, Murad highlighted the top 20 non-idiotic meme coins that stand out among the top 100 coins listed in CoinGecko’s meme category. 14/16 I went ahead and made a list of the Top 20 “non-idiotic” Memecoins among the Top 100 coins on the first page of CoinGecko’s “Meme” list, and disincluded DOGE, SHIB and FLOKI, as I consider them relics of the past and no longer relevant to the current cultural zeitgeist pic.twitter.com/b07uP18hxt — Murad 💹🧲 (@MustStopMurad) August 22, 2024 He noted that coins such as DOGE, SHIB, and FLOKI, which once dominated the space, are now viewed as relics of the past. These coins no longer represent the cultural moment and have been disqualified from his selection of meme coins that are more aligned with the current trend. This suggests moving away from older, more established meme coins favoring newer projects. Shiba, launched…
Filed under: News - @ October 15, 2024 10:20 pm