Can Shiba Inu Rally From This Week's 17% Decline?

This week, popular meme token Shiba Inu (CRYPTO: SHIB) has continued to slide. The dog-inspired token is down 15.4% over the past seven days as of noon ET.

This week, sentiment among speculative dog-inspired cryptocurrencies has waned, with rival Dogecoin also down by 15.6% over this same period. Investors appear to be rotating out of riskier assets (as they're doing in the stock market as well) and into safer investments.

That hasn't dissuaded some whales (big players) from adding big positions in this meme token. This week, it was reported that two crypto whales had accumulated 150 billion SHIB, at a cost of more than $5 million.

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Source Fool.com