The cryptocurrency sector has been on a tear recently, and investors have taken notice. One of the most popular digital currencies is Shiba Inu (CRYPTO: SHIB), a token that's made waves on social media due to its dog mascot and also its incredible returns since inception.
Since the token launched in mid-2020, returns for early investors have been incredible. Given an initial price of $0.00000000051 per token, an investment of $1,000 in August 2020 would be worth more than $28 million today, at a price of $0.00001435 per token. That's an absolutely mind-boggling return, and one that's clearly invited speculators to consider adding this token on momentum rallies.
Indeed, considering the strong momentum we've seen to kick off 2023, it's not surprising to see Shiba Inu continue to dominate the interest of traders and speculators in this market. Now, the question is whether this momentum can continue, and whether dips should continue to be bought.
Source Fool.com