Shiba Inu Is Still At a Discount: Should You Buy The Dip?

Shiba Inu (SHIB) is undoubtedly one of the most popular cryptocurrencies of the last few years. The coin’s stellar performance during the 2021 bull run solidified its status as a millionaire-maker. SHIB’s price rose by many million percent within just a few months of its launch. While SHIB hit an all-time high of $0.00008616 in October 2021, many new investors got into the project when it was at its top. SHIB’s price has fallen substantially over the last four years. Investors who bought at the top continue to sit on heavy losses. Given the current low prices, let’s discuss whether you should buy the Shiba Inu (SHIB) price dip.

Is Shiba Inu Worth Buying During The Price Dip?

Source: Watcher.GuruSource: Watcher.GuruOne of the most significant catalysts to Shiba Inu’s (SHIB) incredible 2021 rally was Vitalik Buterin’s massive token burn. The Ethereum co-founder received half of SHIB’s entire supply upon the project’s launch. However, Buterin decided to burn 90% of the coins he received. At the time, there was also substantial demand for SHIB. The dip in supply and high demand led to a massive price spike.

Despite the big burn four years ago and the consistent token burns on the Shibarium network, Shiba Inu still has a massive supply. There are currently about 589 trillion SHIB tokens in circulation today. However, the Shiba Inu (SHIB) team is working on a new burn mechanism that could change the game for the asset. The new burn mechanism is rumored to burn trillions of tokens yearly. Such a move could lead to a massive price spike in the future. Buying the dip right now could prove to be lucrative if the new burn mechanism is launched successfully.

Also Read: Is Shiba Inu A Dead Coin? $500 In SHIB 5 Years Ago Would Be $104.8M

Also Read: Is Shiba Inu A Dead Coin? $500 In SHIB 5 Years Ago Would Be $104.8MMoreover, the Shiba Inu (SHIB) team is working on bringing more use cases to the SHIB ecosystem. More development on Shibarium could also lead to more demand for SHIB. Higher demand will likely lead to higher prices.

Many anticipate Shiba Inu (SHIB) to reclaim its all-time high price level over the coming years. If SHIB reclaims its peak, you could make big returns with small investments.