Is It Time to Sell Shiba Inu?
The Shiba Inu (CRYPTO: SHIB) cryptocurrency started out strong in 2023. Token prices rose 88% between New Year's Day and Feb. 4. But the joy didn't last long. Shiba Inu has retreated more than 40% below February's peak while leading crypto names, like Ethereum and Bitcoin (CRYPTO: BTC), continued to climb higher over the same period.
Is it time to give up on the dog-themed meme coin, or should you see this sudden price dip as an invitation to stock up on Shiba Inu tokens?
First, let's think about why Shiba Inu rose earlier this year. The economy started showing signs of stabilization and improvement after the rough and tumble action in 2022. That's good news for any high-risk investment, and Shiba Inu definitely qualifies under that title. On top of that, the cryptocurrency had some price catalysts of its own.
Source Fool.com
