The Shiba Inu (CRYPTO: SHIB) cryptocurrency was the talk of the financial world in 2021 for its record-setting annual return of 43,800,000%. It minted millionaires from investors who bought on Jan. 1 and held until Dec. 31, with a commitment of as little as $3.

But times have changed, and the irrational exuberance that fueled the meteoric rise of speculative assets last year appears to have abated. Thus, Shiba Inu investors are now grappling with a 70% loss in 2022 so far, and the token has dipped below $0.00001 twice in the past five months. That's the wrong direction for many pundits who anticipated it would reach $0.0001 or even $0.001 instead.

Should investors consider this to be a buying opportunity ahead of another blockbuster run, or has Shiba Inu lost its mojo for good? Let's explore the details.

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Source Fool.com