Shiba Inu has been making big waves in the cryptocurrency world. The ‘Dogekiller’ coin has given insane returns in 2021 but in the past one month, the momentum has seen a slowdown.
We recently explained whether it is better to buy Shiba Inu or Dogecoin as both the meme-coins have fallen significantly from their November highs. And guess what? The SHIB investors have already braced themselves for another upward rally in the price of their favorite meme-coin.
SHIBA Inu is currently the world’s 13th most valuable cryptocurrency. At one point, it had even overtaken Dogecoin to become the 9th most valuable crypto token on the planet.
Shiba Inu: Time To Buy The Dip?
As most Shiba Inu hodlers are active on Twitter and Reddit, a quick look at their community shows that even though the crypto markets have been plummeting off late, the Shib Army is optimistic about the future of Shiba Inu.
On top of that, Elon Musk’s tweet is also a major factor behind the panic in the Shiba Inu price. The Tesla Boss said that he does not own any Shib coins, and the only cryptos he is invested in are Bitcoin, Etherium, and Dogecoin.
Investors who believe in Shiba Inu are reluctant to sell-off their holdings and are preparing for another leg-up rally in the prices. And in case you were amongst the holders of Shiba Inu but sold your position, you are going to miss the price flight that will take the remaining investors to the moon.
A well-known Shiba Inu support page on Twitter @ShibInform tweeted saying: If you’re smart you are buying the $SHIB dip right now!
The comments of the tweet echo similar sentiments from ‘holders’ of Shiba Inu. “SHIB is getting ready for another 1000%”, read one comment while other said “We are ready”
Given that SHIB has fallen more drastically compared to Dogecoin, it can be said that it is trading at a higher discount than compared to it’s peer meme-coin. If anyone had always wanted to invest in SHIB, this is the most ideal time to do so. Also, as Dogecoin has already grown and matured into a gigantic project, there are lesser attractive reasons to invest in it.
What do you think about the whole story? Tell us your thoughts in the comments.
PS: This is not financial advice. One must conduct their own research before investing in cryptocurrencies. The market is volatile and not regulated.