Shiba Inu (SHIB) remains one of the most rewarding altcoins in recent times. Irresponsible for the crypto winter of recent months that saw most cryptocurrencies lose most of their previous gains, the return on investment on SHIB stands at 731880% according to CoinMarketCap. This means that the initial investors are having $7318.8 for each $1 investment.

This rise led to a strong positive sentiment towards the altcoin Shiba Inu (SHIB) which in some quarters is called "Doge Killer." This sentiment led to the rise of SHIB to $0.00008845 on October 28, 2021, according to CoinMarketCap. Many investors were optimistic that the price would rise further. This has not been the case, since SHIB is trading at $0.00001173 with 24 hours decreased by 0.15%. This means that the price of SHIB has reduced by 650% in the past 7 months.

With the launch of a platform where Shiba Inu (SHIB) holders, will be rewarded for burning SHIB, the SHIB community had soon low response to it. This can be seen with the decrease in the price of SHIB by 42% in the past 30 days.

The news of this reward platform would have increased the price of Shiba Inu (SHIB), irrespective of the crypto winter since the market is trending towards the part of users' sentiments.

Some of the factors that could be responsible for the low response of the SHIB community to the Shiba Inu burn to earn platform include:
<ul>
 	<li>The SHIB community was disappointed with Shiba Inu's recent performance.</li>
 	<li>The inability of SHIB to rise after listing on Robinhood.</li>
 	<li>The low impact of the launch of the Shiba Inu Metaverse platform on the price of SHIB.</li>
 	<li>The crypto winter.</li>
 	<li>The short duration of the reward system.</li>
 	<li>The burning to reward ratio of SHIB to Ryoshis Vision.</li>
</ul>
The news that Shiba Inu (SHIB) had made its early investors millionaires about a year ago, made a lot of users buy and hodl the token because of fear of missing out (FOMO). Holders that believed that SHIB could attain a new all-time high after $0.00008845 in October 2021, are disappointed with their decision. They are of the belief that they would have taken their gain then than leaving at this present price which has reduced by over 650% in the past 7 months. The same regrets were shared by Terra LUNA investors before the market implosion after Terra Luna Classic (LUNC) attained a present all-time high price of $119.

The inability of SHIB to rise after listing on Robinhood

The SHIB community had always sent numerous tweets Robinhood team, demanding that they get Shiba Inu listed in their exchange. Many within the SHIB community that the next bullish run of SHIB would come once Robinhood gets SHIB listed. The SHIB community were optimistic that one day, they will succeed with their quest. Shiba Inu was finally listed on Robinhood, but its price could not rise to the point of breaking its present all-time high, rather it had fallen since then. With the failure of different analyst predictions on the positive impact of Robinhood listing on SHIB, some investors are now sceptical about news on Shiba Inu.
<h2>The low impact of the launch of Shiba Inu Metaverse platform on the price of SHIB</h2>
As the year began, the Twitter handle of the team that handles SHIB tweeted that the SHIB community should get ready for a development that would lead to a surge in the price of Shiba Inu. Some investors hodling SHIB believed that the news would have a strong impact on the bullish run of SHIB since it was associated with Metaverse. Their expected failed as the price of SHIB was relatively affected after the launch of Shiberse. About 100,595 virtual plots of land are to be sold.

Crypto Winter

The present crypto winter has made some short term investors to think long term on their Cryptocurrency assets. This has positioned them in a very difficult position to contribute to the Shiba Inu burning platform, irrespective of how good the idea might be. This is because, in the cryptocurrency market, the number is very important. Sending a given quantity of SHIB to the burn address could increase their waiting period to recover their gain in case of a strong bullish run.
<h2>The short duration of the burning reward period</h2>
Shiba Inu (SHIB) holders who contribute to SHIB burning can only receive rewards in Ryoshis Vision (RYOSHI) in 20 weeks after the announcement. This short duration had made some holders who would have contributed to the address for burning SHIB relax. Also, rewards for burning SHIB are not sent immediately but in two weeks' time. Users are expected to also visit Shibaswap to claim the reward, with some vesting period also given to avoid dumping Ryoshis Vision.
<h2>The burning to reward ratio of SHIB to Ryoshis Vision</h2>
Since the launch of the reward platform, about 28 billion SHIB had been burned. This is low when we compare it to the amount of SHIB in circulation. Recent news noted that the largest amount of SHIB that had claimed a Ryoshis Vision (RYOSHI) reward for burning SHIB, received 119 billion RYOSHIS for burning 1.3 billion SHIB. With the present price of SHIB and RYOSHI, the user received about $4200 in RYOSHI reward for burning SHIB worth over $16,000. This low reward to burn ratio had contributed to the low interest of Shiba Inu holders in the SHIB burning platform.

Factors Responsible for Low Response of SHIB Community

In this article, we will be learning about the factors responsibilities for the low response of the Shib Community. across the globe.

Chukwuemeka Raphael is an author and cryptocurrency news writer/analyst. As a Mathematics graduate and trained analyst, he combines his Math knowledge and strong reading culture in contributing content and analysis for the development of cryptocurrency and blockchain space.

Factors Responsible for Low Response of SHIB Community

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