Prominent meme coin Shiba Inu [SHIB] The sudden spikes, and abrupt falls are what make it so popular. Although it has the power to change people’s lives, it is also able to stay static. SHIB is currently struggling to overcome the bears and has left behind its golden days.
As of press time, the meme coin was trading at $0.00002208, following a daily loss of 1.48 %. SHIB also had a poor record for the week, with a drop of 15%. The asset has had a very eventful year, with a surge of 235%.
Shiba Inu owners are left wondering how to proceed as the market is suffering. Rafaela Rigo is a crypto analyst who has told the community that they should buy the dip. Recently, a post was made on X [formerly Twitter]Rigo stated that during the slump in SHIB, she had been purchasing SHIB.
Analysts believe that SHIB could reach as much as $0.00004988. This is 130% higher than its current price. Since this forecast, which was released at the end of may, the meme coins have dropped. Rigo doubled down on his prediction and revealed that this retracement is simply an opportunity to buy.
Also Read: Shiba Inu: How To Be A Millionaire If SHIB Reclaims All-Time High?
Shiba Inu: Can it break its June curse?
Investors will need to be patient before they can reap the benefits. CryptoRank data shows June to be an unfavorable time for Shiba Inu. Since June 2021, meme coins have dropped an average 10.4%.
Also Read: Shiba Inu: Robinhood & Coinbase Move 9.6 Trillion Tokens
SHIB is yet to confirm if they will continue this trend. Shiba Inu’s network as a whole has worked to improve its functionality and attracted more members, while keeping the old ones. The meme coin could see a change in its historical trend.
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Source: watcher.guru