Terra Officially At 0 As Analysts Predict Shiba Inu Could Be Next

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Last Updated on 14 May 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Back in March of 2008, the global stock markets didn’t really stop in their tracks when Bear Stearns collapsed. The fact that then Daily Show host Jon Stewart made a segment laughing at Jim Cramer was enough for a wry smile but then it was back to business.

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More comfortable at $2

As Stewart notes in this legendary video (skip to 1.47),

Of course, while Cramer wasn’t giving up on Bear at $69, the stock market was more comfortable with it at ….. $2.

YouTube video

However, when a few months later Lehman Brothers (a much bigger financial institution) suffered a similar fate, the world did take notice and the global financial crisis was unleashed on an unsuspecting public.

The role of laughing at Jim Cramer’s stock picks in this market has been taken over by WallStreetBets by the way who have made a sport out of doing the exact opposite of what Cramer advises in 2022.

Crypto commentators now claim that the collapse of Terra this week (which is now officially trading at zero (0) and has halted it’s blockchain), could be a Bear Stearns moment, and that more possible Lehman Brothers crypto coins could be next.

For proof, take a look at Fintwit News, who have some 130,000 followers on Twitter. Paraphrasing Stewart’s famous line, they said this week:

If you invested $10,000 in Luna last week, you now have …..$2.”

Mainstream media points to Tether as a possible next victim (Tether momentarily lost it’s peg to the dollar earlier this week) while others think Shiba Inu, the biggest memecoin of the second half of 2021, could be next.

Shiba plunge

The first half of 2021 was of course the time of Dogecoin. With Elon Musk presenting SNL and talking about the memecoin on a global television program, eager buyers pushed the coin’s value to 75 cents in the weeks before his appearance.

The second half of 2021 belonged, in terms of memecoins at least, to the copies of Dogecoin, of which the most prominent one was Shiba Inu

It went so far as to create a millionaire out of a man who invested several thousands of dollars as from the start.

This year however, the tables have turned and Whales who were once holding Shiba Inu are now selling the coin. SHIB has dropped more than 30% over the past 7 days. But Shiba Inu has not just started plummeting in the current bear market. The coin has been plunging over the past 6 months already. Is SHIB next?