Shiba Inu's Only Path to $1 Has Narrowed in July
Shiba Inu (CRYPTO: SHIB) is a quintessential meme cryptocurrency. It rose to prominence in 2021, delivering a 43,800,000% gain between Jan. 1 and Dec. 31, which could've turned a perfectly timed investment of less than $3 into $1 million. That achievement came on the back of pure speculation and very little actual utility.
But as the hype gradually subsided, so did Shiba Inu's price per token. In 2022, it has declined by 66% to around $0.00001. The community is now trying to reinvigorate it by addressing one of Shiba Inu's largest problems -- the enormous supply of 589.6 trillion tokens in circulation.
Source Fool.com
