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Should You Buy Shiba Inu While It's Still Down?

TheMotleyFool

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Should You Buy Shiba Inu While It's Still Down?: https://g.foolcdn.com/editorial/images/755213/shiba-inu-dog.jpg

Shiba Inu (CRYPTO: SHIB) attracted lots of attention during the cryptocurrency bull market of 2021, the year that the price of this meme token skyrocketed in value to reach its all-time high. That same year the stock market was also on an impressive run.

However, it's been a different story in the past couple years. Unfavorable macro factors have helped drive down Shiba Inu's price 90% from that peak price. And this dog-themed meme token is up less than 9% this year, even with other top cryptocurrencies posting much bigger gains.

Should investors consider buying Shiba Inu while it's still down? Let's take a closer look.

Source Fool.com

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