If You Invested $1,000 in Shiba Inu in October, This Is How Much You'd Have Now

While Bitcoin (CRYPTO: BTC) continues to receive the lion's share of the attention in the financial media, in-the-know cryptocurrency fanatics also monitor so-called meme coins like Shiba Inu (CRYPTO: SHIB). The past couple of months have shown how low-priced tokens like Shiba Inu can make leveraged moves when Bitcoin rallies.

Of course, it works both ways, as a Bitcoin-price drop could precipitate a Shiba Inu coin crash. Nevertheless, traders with a speculative bent might consider putting a dog in the race with a modest position in Shiba Inu.

In mid-October, Shiba Inu fell to a short-term low of $0.000007 (give or take a few minuscule fractions of a penny), and dog-themed meme coins were scarcely mentioned in the financial press. Sure, Shiba Inu's official X (formerly known as Twitter) social media feed tried to keep the troops fired up for battle, but there wasn't much news to speak of in the crypto-verse.

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Source Fool.com