The cryptocurrency market dropped considerably in the last week, with major coins suffering exceptional losses. So what happened to Shiba Inu coin?
The news: The cryptocurrency market recently saw a $130 billion drop in value in the last 24 hours, per CNBC.
- Major coins — such as bitcoin and ether — saw massive drops, In fact, both of the popular crypto coins saw falls of more than 50% from all-time highs, according to CNN.
What about Shib coin?: Unsurprisingly, meme-based cryptocurrency coins such as Shiba Inu coin and Dogecoin saw a massive drop, too, according to Bloomberg.
- “A widespread selloff in cryptocurrencies saw the most speculative tokens lose significant ground, as risk-averse attitudes pushed investors away from meme assets,” Bloomberg reports.
Yes, but: After two days of sell-offs, Shiba Inu coin rallied big time, leading the rest of the alt-coins, according to Investing.com.
- In fact, Shib coin jumped 40% from its lows seen in January.
- “The gains saw Shiba Inu (SHIB) overtake Polygon (MATIC) … which topped the crypto gainers chart of 2021,” per Investing.com.
What’s next?: Experts predict that Shiba Inu coin — currently valued at about $0.00001962 — will reach $0.000088 by the third quarter of 2022.
