Crypto market commentator Zach Humphries shares his thoughts on Shiba Inu (SHIB) and its future amid ongoing bearish performance.
While optimistic about SHIB’s long-term potential, Humphries emphasized the need for realistic sentiments among SHIB investors. He warned that the days of Shiba Inu skyrocketing thousands of percentage points are over as it matures into a top 15 crypocurrency with a multi-billion-dollar market cap.
Shiba Inu Investors to Stay Realistic
Notably, Shiba Inu hovers around $0.00001319 with a $7.77 billion cap. This floor price reflects an over 70% price slump from its year-high set six months ago. Despite popular optimism that a second-leg phase bull run was on the horizon, this has not happened, and SHIB holders have continued to shoulder losses.
Accordingly, Humphries encouraged SHIB holders to create clear exit strategies, noting that getting emotional with investments leads to poor decision-making. He acknowledged that many investors are holding out for major price surges, with some expecting SHIB to reach $0.01 soon.
He considers the outlook far-fetched, as Shiba Inu is already a top-ranking project, making such a lofty height in the short term speculative.
Nonetheless, Humphries conveyed his belief that a 10X gain is possible in the current bull market cycle. Yet, he noted that such a dramatic rise would depend heavily on broader market conditions, particularly Ethereum’s performance, given SHIB’s status as an ERC-20 token.
Shiba Inu Team Should Release Updates on Time
Furthermore, Humphries raised concerns about the long-delayed release of key developments within the Shiba Inu ecosystem, including the implementation of an automated burn mechanism on Shibarium.
Humphries argued that the introduction of this feature earlier is crucial to ensuring long-term price growth and incentivizing investors to use the Shibarium blockchain for transactions.
“The average retail investor needs an easy-to-understand incentive,” Humphries said. He highlighted that a mechanism for reducing the token supply would be a simple yet powerful solution.
According to the pundit, if he had his way, he would have introduced the auto burn feature when Shibarium launched rather than delay it. Notably, the auto-burn system for SHIB went live last month.
Moreover, Humphries pointed to the need for updates on other major projects in the SHIB ecosystem, including the anticipated metaverse integration. He stressed that while patience is essential in crypto investing, delays in delivering promised developments risk eroding investor confidence.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
