Rapidly rising interest rates throughout 2022 spooked investors, pushing them out of the riskiest assets into safer ones. Amid this shift, the cryptocurrency market was crushed, going from $2.2 trillion at the start of 2022 to under $800 billion at the end. The so-called "crypto winter" was here.
It's been a bit of a resurgence this year, as the cryptocurrency market cap is up about 51% in 2023 (as of April 5). And some of the most popular digital assets, like Shiba Inu (CRYPTO: SHIB), have seen their prices skyrocket through the first three months of 2023. As we've seen in the past, this meme token can quickly shoot up in a very short period of time.
Even with this renewed sense of optimism, it might be time to book your gains and sell Shiba Inu. Here's why.
Source Fool.com