Shiba Inu price has been projecting a tumultuous stance as of late. SHIB’s price is now notoriously hanging by a thread but is also showing signs of recovery from time to time, leaving investors in a state of frenzy. With the dedicated SHIB army vying for its token, can Shiba Inu truly turn the tables around in the near future? Will holding on to SHIB bear any fruit in the long term?
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Holding On To Shiba Inu? These 3 Things May Surprise You
1. Supply Dynamics Still Matter
There is no denying that the Shiba Inu supply is substantial. With trillions of tokens in circulation, the burning mechanism becomes an essential part of this ecosystem. But the SHIB ecosystem has done or has been doing all it can to bolster the burn mechanism. Be it deploying such a mechanism in all facets of its ecosystem, from Shibarium to dedicated burn events, the ongoing momentum could pick up speed sooner and then turn the tables around for Shiba Inu in a better way.
2. Memecoin Runs On Liquidity, Not Logic
Shiba Inu is a memecoin, which usually thrives on liquidity. The fact that the overall market momentum has been low is also impacting SHIB in a hard manner. The SHIB army is patiently waiting in line for altcoin season to pick up pace, an event where liquidity moves from Bitcoin to all other altcoins and assets. This could help SHIB regain its momentum, dominating the charts like before.
3. Banking on Retail Psychology and Nostalgia
Investors are synonymous with being cautious. They will always gravitate towards dependable elements, coins that have made them rich, or the ones they trust their investments with. Shiba Inu’s 2021 price momentum was iconic in a way that made investors trust the asset in all its glory. Retail psychology usually circles back to dependable assets, and when this happens, there is no stopping the Shiba Inu price from reaching the top of the market radar.
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