In the past 7 days, Shiba Inu has lost about 20% of its holders. This is a huge number of investors that have sold in the last week. The huge number of the Shiba holders that left the project are the whales. This is why the Shiba Inu price plunged by a huge percentage in the past week.
Crypto analysts are warning that Shiba Inu price might continue plunging as more investors leave the coin. This includes more Shiba whales selling. But what is causing the Shiba Inu holders to count to drop when the likes of Bitgert (Brise) are experiencing exponential growth in holders count?
Well, the biggest problem with Shiba Inu is the lack of use cases. Unlike its competitors like Bitgert, a project with real utility, Shiba Inu is a meme coin. The coin has no utility, which is one of the biggest challenges that is killing SHIB.
The Shiba Inu team has been working on building products to give the coin utility, but it has been left many miles behind by the likes of Bitgert. That's why a majority of the Shiba Inu investors have been joining Bitgert and other solid projects.
Among the recent attempts that the Shiba team has tried include listing on Robinhood, launching the burn Portal, SHIB the Metaverse, and ShibaSwap. But there is a lot of anticipation regarding the impact that Shibarium, a layer-2 solution that is about to launch, will have on the coin.
However, Shiba Inu will need to beat Bitgert and other competition coins to start growing its holder's count again. In fact, crypto experts Bitgert is among the crypto projects pushing SHIB down by attracting SHIB investors.
Bitgert is building a complete blockchain ecosystem that comprises NFTs, DeFi, and Web3 products. The Bitgert BRC20 blockchain is still the most discussed product from the Bitgert project. Bitgert chain is gasless and the fast chain today. Other Bitgert products coming up include the Bitgert CEX, the Bitgert NFT marketplace, and the Bitgert Web3 Oracle.
There will also be 1000+ Bitgert backed projects joining this ecosystem. The Centcex project partnership is also bringing a lot of products to the Bitgert ecosystem. Centcex team is bringing an unlimited number of products to the Bitgert ecosystem.
In conclusion, the Shiba Inu holders count is projected to keep dropping in the next few weeks. With the massive Bitgert growth and the impact that Centcex will have on the Bitgert ecosystem, more Shiba Inu investors will be joining Bitgert. That's why $SHIB might continue dropping.
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