SHIB — En route to the moon or is a tragic crash landing in coming

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Shi­ba Inu token prices con­tin­ue to influ­ence and be influ­enced by events in the real world. Even the demand for Shi­ba Inu pup­pies has increased on the back of this surge. Yet despite these cat­a­lysts, Shi­ba Inu could be on the verge of hav­ing its bub­ble burst any day. While it’s not uncom­mon for dig­i­tal cur­ren­cies to be volatile, SHIB may wind up los­ing the vast major­i­ty of its val­ue in the months that lie ahead.

Irre­spec­tive of this ‘get-rick-quick’ nar­ra­tive con­cern­ing this token, some indi­vid­u­als have dis­missed or rather neglect­ed the SHIB token frenzy.

Bedrock Cap­i­tal founder took to Twit­ter to express his nar­ra­tive that includes a ‘bub­ble’. Geoff Lewis, regard­less of the mar­ket craze com­pared this canine mania to Pets.com. A name that was syn­ony­mous with the inter­net bub­ble in the late 1990s or ear­ly 2000s. He believes that SHIB now exact­ly aligns with the online pet store in 2000 right before, the bub­ble burst. He tweeted:

“Ruff” time ahead?

Let’s explore this analogy.

Pets.com, a pet essen­tial store became an instant hit just months after the company’s birth in Feb­ru­ary 1999. To add to this, Online retail giant Ama­zon even acquired a 54% stake in the enter­prise, just a month lat­er. And that’s not it. More­over, the com­pa­ny spent around $1.2 mil­lion on com­mer­cials to fur­ther boost its sales. It even released its IPO on Nas­daq in the same year. Over­all, it spent near­ly $11 mil­lion, how­ev­er, the input was the main prob­lem. Its rev­enue account­ed for a mere $619,000 from the sale of pet acces­sories and supplies.

Soon every­thing turned south. Pets.com was liq­ui­dat­ed in just 268 days after it start­ed trad­ing on Nas­daq. It became one of the biggest dis­as­ters, as its stock col­lapsed from the peak of $14 to just around $0.19.

That’s why it was com­pared to a dot-com bub­ble. Talk­ing about one bub­ble to anoth­er, SHIB was the lat­est tar­get for the same. Main­ly due to its unprece­dent­ed hikes. Con­sid­er the graph below,

Using the same nar­ra­tive, could SHIB fall all way down to zero? Sev­er­al cryp­to enthu­si­asts have pre­dict­ed its steep fall. Cre­ative Plan­ning CEO Peter Mal­louk opined,

Anoth­er one, in a recent tweet, the for­mer Nation­al Secu­ri­ty Agency con­sul­tant, Edward Snow­den too rode this anti-SHIB bandwagon.

Now hav­ing said that, one would agree on this. SHIB has been a vic­tim to an infi­nite amount of FUD since its incep­tion. There’s no deny­ing this. Just recent­ly, despite a mas­sive 40% cor­rec­tion, it was quick to recov­er. Fur­ther­more, this come­back aid­ed SHIB to enter the top 5 coins by dai­ly trad­ing volume.

Mean­while, dif­fer­ent exchange plat­forms already sup­port­ed the flag­ship token. So were these just base­less noise?



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