Is Shiba Inu a Bargain Buy or Destined for More Decline?

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2021 has been a prosperous year for the crypto market in general, however, one coin that hasn’t been reaping the rewards is Shiba Inu (SHIB). As of July 16th, it trades at $0.000014, marking a decrease of approximately 35% since the beginning of the year.

As an observer, it appears that while there’s anticipation for a potential Shiba Inu spot exchange-traded fund (ETF), which might boost crypto investment overall, the meme coin itself is currently experiencing a slump. The question arises: Is this a promising moment to invest in this struggling coin, or should one expect further declines in the coming weeks and months?

A concerning trend for Shiba?

It’s concerning that Shiba Inu is experiencing a dip, especially given the robust state of the overall cryptocurrency market. Notably, Bitcoin has seen a remarkable increase of approximately 26% in its value this year, reaching unprecedented peak values throughout.

It seems that investors are not avoiding cryptocurrencies at this time, and there is a growing trend towards mainstream acceptance as governments increasingly embrace cryptocurrencies, compared to previous administrative periods.

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The Shibarium, a fast and cost-efficient Layer-2 blockchain network for the Shiba Inu community launched in 2023, achieved one billion transactions this year, demonstrating its popularity. However, despite these positive signs, the value of Shiba Inu has declined this year. If the crypto market experiences unfavorable conditions, it might perform even more poorly.

Are meme coins no longer a hit with investors?

Apart from Shiba Inu, Dogecoin has also struggled this year. Both cryptocurrencies have experienced a significant decline, with Dogecoin dropping approximately 35% in value throughout the year. The poor performance of these leading meme coins raises speculation that investors may be shifting their focus away from risky meme coins and opting for more secure investment options instead.

Recently, the Circle Internet Group has made its public debut, opening up another avenue for investment in the cryptocurrency realm – through stablecoins. These stablecoins, which are tied to the U.S. dollar, offer a more stable and less volatile investment option that appeals to a broader investor base, including those who might otherwise shy away from high-risk ventures but still crave exposure to the world of cryptocurrencies. Consequently, the limelight seems to be shifting away from meme coins as they once enjoyed.

Should you buy Shiba Inu today?

Investing in meme coins carries a high level of risk since they are essentially speculative purchases, making it challenging to predict their future direction. The success of one coin largely depends on its popularity compared to others. As the number of available coins increases and stablecoins gain more traction and popularity, there might be less demand for meme coins today.

As the cryptocurrency market evolves over time, it may shift away from meme coins towards more secure investment options. Given this trend, I would advise against purchasing Shiba Inu at this time, as there doesn’t seem to be a strong basis for expecting a rebound and sudden price surge.

Regrettably, its time as a leading cryptocurrency might be behind us. Currently, with a market capitalization of $8.3 billion, it ranks as the 18th most valuable crypto globally – a significant drop from its previous position within the top 10.

Even though it appears less expensive than earlier this year, there’s no assurance that the meme coin won’t drop even further. If you’re considering a crypto investment, it seems wiser to invest in Bitcoin or crypto stocks instead. At present, Shiba Inu is quite risky to purchase.

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2025-07-17 16:58