Shiba Inu (SHIB), one of the leading assets of popular meme tokens, has not been able to escape the impact of the latest wave of decline. The leading cryptocurrency Bitcoin continues its struggle in the area of $ 34,000. All altcoins turned red with double-digit losses. Shiba Inu, on the other hand, followed a bearish movement similar to other prank cryptocurrencies.
Shiba Inu Ascension Prospect
Launched as the Dogecoin killer, the Shiba Inu performed unbelievably, climbing $0.0000884 in 2021. Born as an entity that reflects the meme coin culture, Shiba Inu has attempted to become a trend-following cryptocurrency by changing its shell. SHIB, which the community triggered the rally, followed a bull run with the overlapping of massive whale purchases and stock market listings.
Shiba Inu, which is currently among the assets that whales trade the most, wants to be purified in its inflationary structure with its burning mechanism. It’s too early for a Shiba Inu and it’s just the beginning. If the team completes its work as expected on the specified dates, starting the rally is not even sincere. On the other hand, whale support and Elon Musk doping can also create a domino effect. Although the Shiba Inu has had a hard time with the shift of interest to the metaverse and NFTs, it has been the preferred crypto asset among meme coins.