Is Shiba Inu coin dead?

Is Shiba Inu coin dead?

It goes without saying that the cryptocurrency market can be tumultuous. Hot commodities like Shiba Inu coin see values rise and fall all the time — and often at the whim of their biggest proponents. Considering the chaos, it’s hard to know whether or not Shiba tokens are worth the investment. Is Shiba Inu coin dead, or is its next rise just around the corner?

Is Shiba Inu coin dead? Market value explained

Is Shiba Inu coin dead? Market value explained

Despite rising quickly and then falling sharply after launch, Shiba Inu coin is not dead. It’s true that its value has fallen dramatically since May, but the Shiba Inu coin market cap is holding steady around $3.5 billion heading into June.

Far from being dead, it instead appears that Shiba Inu coin has finally stabilized. That’s not without a few setbacks along the way, of course. It launched back in August of 2020, but didn’t really draw much attention until its price skyrocketed in April 2021. It would peak around a market cap of $12 billion, which was coincidentally just a few days after Elon Musk caused an overnight crypto market crash.

Unfortunately, with such rapid rises comes an inevitable fall. Shibu tokens fell to just $5.5 billion by May 16, according to data from CoinMarketCap. Then, on May 17, Ethereum co-founder Vitalik Buterin burned 90 percent of his SHIB holdings, valued around $6 billion. By May 23, Shiba Inu coin dropped below a $3 billion market cap.

Since then, SHIB has mostly stabilized. The market cap hasn’t dropped below $3 billion since, though it’s been struggling to hold any value above $3.5 billion.

All things considered, the news is good. Shiba Inu coin is not dead — far from it. Following the drop in value after the big spike in May, Shiba token prices have finally stabilized. Cryptocurrency investors who want a piece of SHIB now have another chance to jump in before the next big boom. Here’s a look at which apps you can use to buy it.

Upcoming Releases
Inspired by the beauty of the natural world around us, Everwild is a brand-new game in development from Rare where unique and unforgettable experiences await in a natural and magical world. Play as an Eternal as you explore and build bonds with the world around you.
Kindred Fates is an open world monster battling RPG, and a love letter to the monster battle genre. Our goal is to evolve the genre, and finally bring fans what they've been asking for.
Embark on an inspiring mission of human connection beyond the UCA. Sam — with companions by his side — sets out on a new journey to save humanity from extinction. Join them as they traverse a world beset by otherworldly enemies, obstacles and a haunting question: should we have connected?
Star Citizen is an upcoming space trading and combat simulator video game for Microsoft Windows. Star Citizen will consist of two main components: first person space combat and trading in a massively multiplayer persistent universe and customizable private servers (known as Star Citizen), and a branching single-player game (known as Squadron 42). The game will also feature VR support.
Reviews
9 REDMAGIC 10 Pro Review
With a new Snapdragon processor comes a new REDMAGIC 10 Pro phone incorporating it. For those gamers or power users…
X