The meme-inspired cryptocurrency Shiba Inu (SHIB) has recently attracted a lot of interest and speculative activity. Due to its likeness to Dogecoin and its attractive name, “The Dogecoin Killer,” investors have been curious to see if SHIB will produce exceptional profits of 1000% this year. Experts advise considering a better option, such as the Anarchy Project ($ANA), as they think this is extremely improbable.
The new meme currency $ANA prides itself on being a project that mocks corrupt governments using memes and humour. It’s gaining a tonne of popularity and might provide incredible profits.
This essay will explore if Shiba Inu can give 100% this year or whether it will be replaced by the rival meme coin, $ANA.
Can Shiba Inu Deliver 1000%?
In August 2020, Ryoshi, a mysterious person or organisation, developed Shiba Inu. Soon after its debut, it became well-known and developed a sizable fanbase. However, analysts continue to disagree on its long-term potential and capacity to provide 1000%, particularly in light of recent price changes.
Shiba Inu would need to repeat the amazing spike it had in 2021 in order to produce 1000% this year. However, it is quite improbable that this meme token will succeed in doing so.
Its highly high supply is one of the key reasons why analysts think SHIB won’t produce 1000%. This implies that even a modest price increase would lead to a huge market value, so it’s unlikely to occur.
Furthermore, SHIB is up against fierce competition from powerful new meme currencies like $ANA, which has a sizable following, and the majority of prominent investors are moving away from the Shiba ecosystem in favour of up-and-coming initiatives like PEPE and ANA. Investors believe it will be difficult for SHIB to produce a 1000% gain because of this outflow of money.