Shiba Inu fell to its yearly low of $0.00000792 levels on Tuesday after declining in price for 10 consecutive days. SHIB is barely rallying in Q2 of 2023 making investors suffer severe losses with no signs of a quick recovery. The price needle is not moving forward and the majority of investors are fearful to take an entry position now. The fears stem from that ‘the token could crash further’ making the ‘buy the dip’ idea seem to be a costly mistake.
Now that Shiba Inu is at its yearly low, could this be the right time to accumulate the token? Will it rally in the coming days and deliver stellar profits to investors? Let’s find out!
Should You Accumulate Shiba Inu Now?
Shiba Inu is hovering around the $0.00000804 mark and its price remains stagnant in the indices. The token could either dip further or move sideways in Q2 of 2023 testing the patience of its investors. While not much is happening in the Shiba Inu ecosystem currently, the token has a string of developments up its sleeve this year.
The string of developments includes the launch of:
Shibarium layer-2 solution
SHIB: The Metaverse
Among these five, Shibarium and SHIB: The Metaverse could most probably be launched in 2023 or 2024. The work is in full swing, according to the latest updates provided by the team on Twitter. The negative sentiments that SHIB is attracting could turn positive when the upcoming development’s launch.
#SHIBARMY! We're thrilled to announce that the trailer for Rocket Pond will be released tomorrow! We are so excited about the impressive progress the project has made, and this is just the beginning. Get ready to be amazed! pic.twitter.com/eJf57ensX5— Shib – The Metaverse (@mvshib) June 6, 2023
Therefore, SHIB could rise only when Shibarium and SHIB: The Metaverse goes functional which might sustainably scale up its price. An investment at its low might pay off when the products are released generating decent returns. Nonetheless, life-changing gains can be ruled out as the token will not rally again as it did in 2021.