I agree, SHIBA is a meme coin, and I think Shiba falls into the speculative category, which we can trade quickly for profit. Not as a holding coin or long term investment. Memecoin has big risks, the hype on the coin meme has also slackened. This resulted in Shiba could fall at any time drastically.
The hype on memecoin won't last forever and even once every two years it won't necessarily happen, so if anyone expects to profit through hype, it's actually not bad, but rather it takes a long time to happen so he himself might get bored in waiting.
Why should they get bored if there is profit or expected ROI in few months? Even if they have bought in higher price point, waiting for U turn will make profit stats minimum break even or few percent profit in worst case. Meme altcoins just go up due to HYPE but the power of HYPE shouldn't be underestimated, from my experience.