Shiba Inu is on a relentless downturn as its price has now reached the $0.000013 mark on Wednesday. It is on the brink of adding an extra zero making its price reach the $0.000001 range. It slipped nearly 67% in a year and shed most of the profits it generated in March and November last year. SHIB surged 280% in March 2024 on the heels of the Bitcoin halving event. In addition, it soared 200% in November when the markets rallied after Trump reclaimed the White House.
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The dog-themed token is now its yearly low after shedding all profits it generated last year. Amidst of the downturn, Shiba Inu’s marketing head Lucie SHIB encouraged investors to remain positive during the dip. She predicted that the token would rise again in the charts and reclaim its previous glory. The much-needed word of advice is to heal the declined sense of enthusiasm among the investors’ community.
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“Never say never. SHIB will succeed,” she wrote on X, encouraging investors to stay confident amid the downturn. Shiba Inu investors have a loyal fanbase with a sea of following in the crypto community. They’ve invested thousands of dollars hoping that the token could change their financial fortunes for good. Nonetheless, the relentless dip is making them question their investment choice as the returns since October 2021 have been meager.
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Will Shiba Inu Rise Again?
Trump’s trade tariffs are affecting the global stock market and are also weakening the US dollar. The US stock market saw a dip on Tuesday when the tariffs went live indicating that investors are skeptical about the process. The development made Dow Jones plunge 650 points and the DXY index, which tracks the performance of the US dollar fall to the 105.30 range. The stock market’s fall affects the broader cryptocurrency sector and Shiba Inu could lose steam in the coming days.