Shiba Inu (SHIB) has experienced a steep price crash since its $0.00008616 peak in October 2021, falling by nearly 90%. Moreover, the popular memecoin is following the current market-wide correction. According to CoinGecko’s Shiba Inu data, SHIB’s price has fallen by 6.8% in the last 24 hours, 1.5% in the last week, 7.3% in the 14-day charts, 14.8% over the previous month, and 64.9% since November 2024. Let’s discuss if you should continue holding your SHIB tokens or sell and take a loss.
Should You Sell Your Shiba Inu During The Price Crash, Or Keep Holding?
Despite the Shiba Inu’s (SHIB) struggle over the last few years, the project continues to hold substantial clout in the crypto space. SHIB is one of the most popular projects, with one of the most loyal fan bases.
Selling your Shiba Inu (SHIB) coins for a loss may not be the best way to move forward. Although the asset has failed to gain momentum in the last few years, many anticipate SHIB to gain steam in the next bull run. The team has worked on several fronts to bring more utility to the SHIB ecosystem. The Shibarium layer-2 network will likely see more applications built on it, which may bring more users to the platform.
The Shiba Inu (SHIB) team is also reportedly working on a new burn mechanism, rumored to burn trillions of tokens yearly. Increased burns and more adoption may be exactly what drives SHIB’s price to a new all-time high.
Also Read: Will Shiba Inu Collapse? SHIB Team Addresses Investor Concerns
While selling may seem like an attractive move, it would also mean that you will lose money. Given the bullish outlook for Shiba Inu (SHIB) over the coming years, holding on may be the better decision for the time being. Many industry experts anticipate Bitcoin (BTC) to eventually hit the $1 million mark. Such a development will likely lead to Shiba Inu (SHIB) climbing to never-before-seen price levels.