When crypto investors dream of becoming millionaires, they often think of Shiba Inu (CRYPTO: SHIB). The popular meme token brought some investors wealth when it soared 45,000,000% back in 2021. Since, though, the crypto with a cute dog mascot has lost that momentum. And the big question is whether Shiba Inu will ever get it back.
The crypto actually is better today than when it soared in value. It's launched a metaverse project, and its layer-2 solution, Shibarium, is in beta test mode. Still, these elements have failed to push Shiba Inu higher. Is it time to sell? Let's find out.
First, a look back at Shiba Inu's glory days. A veil of mystery surrounded the crypto from its launch: We know of the founder only by the pseudonym "Ryoshi." That and the mascot helped push Shiba Inu into the spotlight. Some social media attention from chief executive officer Elon Musk helped too. Finally, loyal fans known as the "Shib Army" supported Shiba Inu across social media platforms -- and helped boost the token's popularity.
Source Fool.com