Will The Shiba Inu Price Trend To Zero By 2024

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Shiba Inu, a meme coin often referred to as a “Dogecoin killer,” was created in August 2020 as an alternative to meme coins, including Doge. Shiba joins a group of meme coins, such as Floki Inu and Doge, whose creations were inspired by different dog breeds. It uses Ethereum’s ERC-20 network to power its ecosystem. Notably, its emphasis is on speed and low-cost transaction fees.

However, the famous “Dogecoin killer” Shiba Inu has endured a rough week following an industry-wide decline. Further, the meme coin’s decline is exacerbated by a seven-day loss of -5.55%, which shows a cooling interest in altcoin worldwide. The meme coin stands at $0.00001026 at press time. It is well known for its highly inflationary coin supply. Some crypto experts affirm that the Shiba Inu price is bound to fizzle to $0 in 2024.

As SHIB could be on the path of no return, the value-driven investors are taking a glance on the next big thing in the coin-sub space. This next big meme coin is called Love Hate Inu (LHINU). It is a new Ethereum project which comes with a range of utilities. Some include the ability to earn rewards while casting votes on public matters. Notably, it is deflationary with less coin supply than Shiba Inu.

Shiba Inu Loaded with Doom Clouds as the Crypto Market Gives a Bearish Stance

Since October 2021, SHIB has had an enormous price pump moving from $0.000007 to $0.0008 in barely a month. However, after the straight spike, there was a sudden price drop of 50% in Shiba Inu, closing at $0.000038. Regardless of the market fluctuations and uncertainties unleashed through the pandemic, Shiba Inu stabilized at the market price of $0.0000000407 in Feb 2021. This rise of Shiba Inu created tremendous interest among investors. Further, it led to the creation of more Shiba Inu projects.

However, since the beginning of March 2023, the price of Shiba Inu has been underwhelming and not showing significant gains, leading many investors to anticipate a quiet period before a surge in altcoin prices.

Shiba Inu Price

However, Shiba Inu’s (SHIB) price currently trades at $0.00001026 with a 24-hour trading volume of $240,968,437. The price has decreased by -1.91% in the past 24 hours and by -5.55% in the past seven days. Shiba Inu’s market cap is $6,048,011,164, based on its circulating supply of 590 trillion SHIB.

Although the price has declined in the past seven days, Shiba Inu has outperformed the global cryptocurrency market, which has declined by 3.00%. However, it has underperformed compared to other cryptocurrencies in the Ethereum ecosystem, which have increased by 12.70%.

Shiba Inu is currently ranked 15 on CoinGecko. Its all-time low price was recorded on Nov 28, 2020, at $0.000000000056366, which is a staggering 19,454,571.66% lower than the current price. The all-time high price for SHIB was recorded on Oct 28, 2021, at $0.00008616, 87.27% higher than the current price.

Shiba Inu’s technical indicators show the digital asset might be on a dreadful downward spiral. The virtual asset’s current price is way below its 50-day moving average (MA), with its 200-day moving average (MA) validating this bearish line.

Nonetheless, the dog-themed coin has seen a hefty dump over the past few weeks. Its last heavy dump follows the FTX saga. The rest of the technical indicators, such as its Relative Stress Index (RSI), has an indicator of 49.01, showing the Dogecoin killer stands in the underbought region.

As these low-utility meme coins keep acting irregularly, a new meme coin with top utility is set to shake up things in the online polls and research industry.

Love Hate Inu(LHINU)

Let’s look closely at the Love Hate Inu token, which has the most likely chance of becoming the next Shiba Inu. Love Hate Inu is offering its native token, LHINU via a presale. Like Love Hate Inu, Shiba Inu notably held an ICO, where early investors grabbed SHIB tokens at a considerable discount. Further, one of the reasons Shiba Inu was able to generate life-changing returns is due to its created hype from the commencement.

Love Hate Inu is a Vote-2-Earn (V2E) platform that the project has created, allowing one to vote and receive rewards. The roaring project, the new revolutionary vote-to-earn (V2E) crypto has raised over $7.6 million in the public presale.

Morning, #LoveHateInu Crew!☀️

We've got some fantastic news to start the day!🎉

💰We have surpassed $7.6 million in our #Presale raise!💰

Massive thanks to all our voters!🙏

Don't miss out and get your $LHINU before the price increases!🚀🐶https://t.co/Pu2Bo8WOUy #AltCoins pic.twitter.com/OXVptsNv8L

— Love Hate Inu (@LoveHateInu) April 27, 2023

Love Hate Inu is attempting to get into the online poll niche, a big part of marketing. Because of this, LHINU has benefits that make it worth investing in as a coin.

Love Hate Inu lets you say what you think about critical social problems, politics, and entertainment. Notably, it is transparent that the votes cast can’t be changed. The platform is entirely safe and open to everyone.

Further, because of the sensitive nature of the topics, the platform ensures that users can stay anonymous. Since they won’t be able to be punished for being honest, people will be more likely to say what they think.

The LHINU token

Success in the presale is not shocking, given how popular the start-up has became on social media. Love Hate Inu’s Twitter following has grown dramatically to over 33.3K since the debut of the presale. However, the early adopting investors can purchase LHINU tokens at a steep discount of $0.000135 each. During the presale, people can buy LHINU tokens with ETH, BNB, or USDT. Notably, there is no vesting time after the presale. This means investors will get all their tokens after the token generation event (TGE).

LHINU has the potential to impact the crypto industry due to its community-centric strategy and unique selling characteristics. Everyone is eager to follow the development of this initiative soon. Notably, you can visit our guide on the best meme coins to buy here.

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