Is Microsoft's Activision Acquisition Good News for Shiba Inu?

It's been pretty much nothing but bad news for investors in Shiba Inu (CRYPTO: SHIB) in recent weeks. The meme coin has plunged in the midst of a broader sell-off of cryptocurrencies.

On a seemingly unrelated note, Activision Blizzard's (NASDAQ: ATVI) shareholders received some fantastic news last week. Microsoft (NASDAQ: MSFT) announced on Jan. 18 that it plans to acquire the game developer for $68.7 billion. Unsurprisingly, Activision stock soared.

You probably noticed that I referred to this deal as "seemingly unrelated" to Shiba Inu. But is Microsoft's acquisition of Activision actually good news for the altcoin?

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Source Fool.com