Shiba Inu token in danger
Shiba Inu (SHIB) Cryptocurrency Gains More Than 700% In The Last Month
Nov 3, 2021
1 min read
Anna BakkerNews analyzer

SHIB ousted Dogecoin and a number of other coins, taking the ninth place in the ranking by capitalization.

Meanwhile, according to a number of experts, the token is in danger.

On October 28, Shiba Inu renewed all-time highs above $ 0.000086, but then the token's growth stopped. The coin moved to sideways consolidation, losing about 20% from all-time highs.

The token stopped responding even to such positive news as a possible listing on the Kraken cryptocurrency exchange. In addition, on November 2, a new trading pair of SHIB DOGE (SHIB / DOGE) tokens was launched on Binance.

Recall that in mid-September, Coinbase, an American competitor to Kraken, added the token to the list of cryptocurrencies available for trading, which sparked a massive rally. The token then grew on rumors of being added to the Robinhood app.

Altcoin really does have prospects thanks to its existing ecosystem, scalability and popularity among users. However, experts advise to be extremely careful, pointing out the extremely speculative nature of the coin.

If Shiba Inu does not maintain the hype around itself, very soon the token will face a serious decline. The rapid rise in the rate is short-lived, so in the near future, the altcoin can expect a large-scale correction. And the question is whether the Dogecoin clone will survive this correction.

Earlier, Edward Snowden warned investors against investing in the Shiba Inu token. In his opinion, new investors of the "clone of the dog money" are less and less likely to outplay the market.

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