The SHIB coin or Shiba Inu was meant to be a Doge killer and with potential real world uses which it boasted its meme counterpart wasn’t as capable of.
However with the recent dip in the cryptocurrency market we have seen all coins fall to lows once not expected. In particular, all eyes are on Bitcoin BTC given it holds the largest marketshare and with it will have bearing on the future of other crypto coins this month.
While Doge is trading above the $0.30 mark and appears to have found support there, the same cannot be said for Shiba Inu which had unsuccessfully tested support at $0.000007. This is quite worrying as the next support would fall to $0.0000063 and then $0.0000044 all of which don’t seem to have much intermediate levels so can happen quite swiftly.
Of course it can be said that most investors are not purchasing coins and tokens based on immediate real world usages. So while we may see SHIB continue to fall alongside the like of Doge coin it does not necessarily mean the developers would deviate their future plans for the coin from a technological perspective. As long as there is still support from the development team there would be some hope for the coin to not vanish indefinitely and return in future; albeit their investors might not.