Shiba Inu (CRYPTO: SHIB) may not be on its way to a 45,000,000% gain like last year. In fact, the popular meme token has declined so far this year. But Shiba Inu gave investors reason to cheer recently when it jumped 45% in just 10 days. And the cryptocurrency has a couple of growth drivers ahead: the launch of its Layer 2 scaling solution and the development of its metaverse project.
Shiba Inu's rally didn't last -- at least this time. The crypto player lost 28% from last month's high point. Considering Shiba Inu's upcoming projects, should you buy on the dip?
First, a bit of detail about this popular cryptocurrency. How did it make such tremendous gains in the first place? Its loyal community -- the "Shib Army" -- helped push Shiba Inu into the forefront across social media platforms. In fact, the Shiba Inu white paper says the cryptocurrency was designed as an experiment in decentralized community building.
Source Fool.com