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Here's Why Shiba Inu Plunged 30% This Month

TheMotleyFool

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Here's Why Shiba Inu Plunged 30% This Month: https://g.foolcdn.com/editorial/images/781395/shiba-inu-dog-doge-dogecoin.jpeg

Shiba Inu's (CRYPTO: SHIB) price has declined 30% during the past month and underperformed many other cryptocurrencies. During the same period, Bitcoin's (CRYPTO: BTC) price fell 8% as Dogecoin's (CRYPTO: DOGE) price dropped 26%.

Does Shiba Inu's pullback represent a buying opportunity for patient investors? Let's review the main reasons for the meme token's month-long decline -- and if it's poised for a big comeback during the next few months.

Image source: Getty Images.

Source Fool.com

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