The cryptocurrency market dropped considerably in the last week, with major coins suffering exceptional losses. So what happened to Shiba Inu coin?

The news: The cryptocurrency market recently saw a $130 billion drop in value in the last 24 hours, per CNBC.

  • Major coins — such as bitcoin and ether — saw massive drops, In fact, both of the popular crypto coins saw falls of more than 50% from all-time highs, according to CNN.
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What about Shib coin?: Unsurprisingly, meme-based cryptocurrency coins such as Shiba Inu coin and Dogecoin saw a massive drop, too, according to Bloomberg.

  • “A widespread selloff in cryptocurrencies saw the most speculative tokens lose significant ground, as risk-averse attitudes pushed investors away from meme assets,” Bloomberg reports.

Yes, but: After two days of sell-offs, Shiba Inu coin rallied big time, leading the rest of the alt-coins, according to Investing.com.

  • In fact, Shib coin jumped 40% from its lows seen in January.
  • “The gains saw Shiba Inu (SHIB) overtake Polygon (MATIC) ... which topped the crypto gainers chart of 2021,” per Investing.com.
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What’s next?: Experts predict that Shiba Inu coin — currently valued at about $0.00001962 — will reach $0.000088 by the third quarter of 2022.

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