Shiba Inu (SHIB) was by far one of the hottest coins of 2021. People made millions of dollars from the meme coin, but after hitting all-time highs last year, it’s been a bumpy ride for the Dogecoin (DOGE) killer. SHIB managed to reverse its long-term downtrend. Can it now surge? Let’s start with

• The recent price action has seen Shiba Inu (SHIB) drop nearly 70% from its all-time highs last year.

• 56% of all Shiba Inu holders right now are losing money from their initial investments.

• There are signs that SHIB may be rebounding and could see a huge bullish rally.

Data Source: Tradingview.com

Shiba Inu (SHIB) – Price prediction and analysis

According to technical indicators, Shiba Inu’s (SHIB), is currently in a “buy zone”. The price is the perfect opportunity for bulls to enter. It hasn’t always been like this. SHIB has slumped decisively over the last few weeks, tanking 70% from its all-time highs.

But the meme coin has been showing signs of recovery. It was trading at $0. 00002903, up nearly 7% in 24 hours. This downward trend seems to have reversed.

While there is still a lot of downside risk, analysts see a potentially robust rally that could take SHIB to nearly $0.000078. Whales also still have a large portion of SHIB. This could indicate that they are waiting for a rally.

Should you buy Shiba Inu (SHIB)?

Shiba Inu is a meto token that can be highly volatile and potentially dangerous. It is best to wait for the sentiment to change in the wider crypto market before you use it as a speculative investment.

If we see an increase in investor risk appetite, then SHIB could be a good investment. The meme coin is still very risky.