- Shiba Inu’s bearish trend may continue for much longer, considering the project’s prevailing realities.
- Macroeconomic factors and enormous token supply are behind Shiba Inu’s price struggles.
- Short-term traders are benefitting from the minor price swings within SHIB’s sideways price channel.
According to a crypto report, Shiba Inu’s bearish trend may continue for much longer, considering the project’s prevailing realities. The report spotted the global macroeconomic factors and SHIB’s enormous supply as significant factors hampering the meme coin’s recovery in the crypto market.
Highlighting Shiba Inu’s early success, the report explained how the flagship meme coin took the cryptocurrency market by storm, rising to an unprecedented 85,000,000% return barely one year after creation. However, a protracted bear trend, adding to perceived inappropriate tokenomics has plunged SHIB into a proverbial abyss.
Noting SHIB’s enormous supply as a setback, the team behind Shiba Inu created Shibarium as a layer-2 solution in the project’s ecosystem. Shibarium was touted as a SHIB burning solution that would solve the problem of excessive tokens supply.…
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