Can Shiba Inu Reach $0.01?
Last year was brutal for the cryptocurrency market, as the entire industry lost roughly two-thirds of its value. Stubbornly high inflation that proved not to be transitory forced the Federal Reserve to tighten its monetary policy and aggressively hike interest rates. This resulted in investors moving away from riskier assets, a category cryptocurrencies no doubt belong in.
But things have taken a positive turn this year. Bitcoin and Ethereum are up 41% and 36%, respectively, through the first two months this year. And even a more speculative token, Shiba Inu (CRYPTO: SHIB), has seen its price soar 50% in 2023.
Can this positive momentum propel Shiba Inu to $0.01 per token? Let's take a closer look at what investors should know.
Source Fool.com
