The Shiba Inu cryptocurrency token has been standing pat for a few weeks now. But will it recover and return to its all-time high?
Will Shiba Inu token recover?
The Shib token might recover pretty soon, according to AMB Crypto, a crypto news website. The coin has dropped off in value in recent days, which indicates people are buying up the coin because most cryptocurrency investors buy during the dip and sell when value spikes.
- “The token’s volume too has started to pick up the pace. If these two metrics continue to head in the same direction, SHIB’s price might rally soon,” according to AMB Crypto.
Why did Shib coin drop?
As I wrote for the Deseret News, the Shib token has faced a decline recently because the social media hype has died down. There’s some speculation that the Shib token will rebound, but it’s hard to predict social media hype.
- In total, the Shiba Inu coin token lost 83% of its value since its all-time high in May, according to CoinMarketCap.com.
Will Shib coin fail?
- “As a result of this, SHIB coin must meme its way to the top, or wherever it ends up,” according to Investor Place. “Live by the community, die by the community.”