The Shiba Inu just keeps on taking a beating. It’s fallen 8.5% this past week and is down 5% according to FxStreet, with more downside potential looking very likely in the near term.
The Shiba Inu price is likely to continue its downward trend, as it has been doing for some time now. The cryptocurrency markets are all over the place with one thing following another and people wondering what will happen next- this can be seen in a recent low that was hit last week at $0.00000503 USD per coin.
Will Shiba Inu Rise Again
The Shiba Inu coin drop has to lead to a price rally, with more buyers investing due to the cost being so low. There are predictions that it will continue falling and maybe rise again next year though.
There are reports that suggest the Shiba coin and Dogecoin suffered massive drops in recent days. The dogecoin has declined by 7%, while Shiba Inu Coin dropped 10%. This shows these two coins continue on a continual slide.
While SHIB is in a similar state, people are buying instead of selling. The coin has yet to see some major losses and it’s actually the opposite right now as well because investors feel like they can make more money from investing rather than taking their profits offshore or exchanging into other currencies where exchange rates might be better for them but not so much overall.
Is Shiba a Good Investment
Shiba Inu (SHIB) hit an all-time high in the summer of 2021, but it’s been downhill since then. Down 80% from its peak and currently trading at $0.000006485 per token at the time of writing. So is this still a good investment?
If you want to get in on the ground floor of crypto that has strong community support and an innovative idea, Shiba Inu might be for you.
In the event that you have a low tolerance for risk, or if your financial system is more conservative and prefers other backup options (such as cash), then do not purchase SHIB. If you still seeking to buy Shiba Inu Coin, then you can buy it on different platforms such as Binance, eToro, and Coinbase Pro.