well its true that dropping in common, moreover the drops of shiba inu started earlier when there are many company and coins collapsed in the process, but honestly shiba inu performance has been subpar even compared with dogecoin which
also supposed to suffer the same thing like shiba inu.
I guess many just don't really favour this coin anymore though the trading volume is still kinda high, but regardless it seems the presence of newer meme coin like milady and pepe will definitely ate that share of shiba inu market capitalisation in the long run.
moreover the fact that elon rarely shill for it just make things worse, i'd definitely prefer to convert it to doge coin.
Why not convert them to some coin or token with actual utility and potential? I don't understand why people lock their money in tokens which are solely dependent on hype from either a celebrity like Elon Musk or the community and they have no potential themselves to get any organic growth, it is much better if someone buys another coin if they are about to hold it for some time because meme coins are not to be held for long.
One should only invest a very small amount in a meme coin and sell it immediately when they see they are in profit and if the token falls back, they should simply sell and forget about it instead of holding on to the tokens hoping for it to go up again which barely happens in meme coins.
Because up until now, a lot of people are jumping on this market for the idea of getting rich quick with their coins.
Sadly, most of these hyped up coins or tokens will just die without a warning. If there's no solid use case, better abandon the project.
Most developers of this kind are only looking for a way out before people finally realize they are holding worthless tokens.
It is hard to sell a project if there's no reason why it is in the market, hype is temporary, people can easily hop from one project to another.
If you are too late to sell yours, you are screwed. So for long-term purposes, better stick to the top alts with massive use case in the market.