Meme coin Shiba Inu (SHIB) is starting to regain some dominance on Twitter. According to Whale Rumors, Shiba was dominating conversations on Twitter with the #SHIB hashtag trending for nearly 48 hours. This is not the first time Shiba has been dominating social media conversations. This meme coin has been gaining a lot of attention and coverage on these platforms. Can this new buzz translate into price action changes? First,

• After hitting monthly highs late November, Shiba Inu’s (SHIB), has been in steady decline since then.

• We have seen an increase in whale accumulation over the past few days, which could lead to a rally

• Analysts believe that the coin could rise to $ 0. 000047 by the end of December 2021

Data Source: Tradingview.com

Shiba Inu (SHIB) – price action and analysis

It seems like an eternity ago when SHIB managed to hit record highs of $ $0.00008870. However, sentiment in crypto has declined substantially and meme coins such as Shiba or DOGE have been hard hit. SHIB traded at $0. 0000315 against the US dollar.

But despite this slump, SHIB is still ridiculously trading well above 60,000,000 percent year to date. It can be argued, however, that there is still upside to growth. But SHIB has surprised us, at one point hitting a market cap of nearly $36 billion.

Should You Buy Shiba Inu (SHIB) Today?

The moment in crypto is extremely volatile. Market volatility has been a common theme in recent days. Memes coins such as SHIB have seen huge hits. SHIB’s downtrend could continue until sentiment improves. It may be wise to wait to see what price action unfolds.