Shiba Inu Has Plummeted 41% From Its 52-Week High. Is It Time to Buy?

Volatility has always been a feature of the cryptocurrency markets. The collective value of all coins and tokens in existence recently hit an all-time high of nearly $3.9 trillion, but the market is in correction territory again, with a 12% drop as of this writing. Investors might remember when the industry suffered a 71% loss in value around one year after its previous major peak in 2021.Some individual cryptocurrencies are performing even worse than the broader market right now, though. Meme-token Shiba Inu (CRYPTO: SHIB) was sitting on a year-to-date gain of 251%, but it has since plummeted 41% from its 52-week high. Shiba Inu staged an incredible run in 2021 when it delivered a return that could have grown a mere $3 investment into over $1 million. That episode ended with a collapse in value of more than 90%, so is the recent dip the start of something worse or an opportunity to buy before another historic rally?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool