Shiba Inu Is Down 71%. Here's Why I Still Won't Buy It

Controversial cryptocurrency Shiba Inu (CRYPTO: SHIB) broke records in 2021, delivering a return of 43,800,000% and making millionaires out of investors who had tipped in as little as $2.29 and held on for the entire ride.

But since reaching its lofty all-time high in October 2021, the token has collapsed in price by 71%. It leaves some latecomers deep underwater on their holdings, and new punters wondering whether it's a buying opportunity ahead of another historic rally -- especially since Shiba Inu is heading for the metaverse.

It's important to remember that cheap doesn't always equal a good value, and that rings true with Shiba Inu. Here's why I'm not buying the dip.

Source Fool.com