The value of Shiba Inu has dropped while other cryptocurrencies are doing well. With a market cap of $7 billion, Shiba Inu is the second-largest meme coin after Dogecoin. Despite its past success, it’s a risky investment. Shiba Inu has seen significant price fluctuations, making it a volatile choice.

While other cryptocurrencies have seen gains this year, meme coins like Shiba Inu have struggled. Shiba Inu has lost 43% since the start of the year and is no longer in the top 20 by market cap. However, it has shown resilience in the past, bouncing back from losses.

Shiba Inu has experienced significant price swings in the past, with surges and falls in value. It remains a risky investment, but buying low when interest in meme coins is low could offer some potential upside. It’s crucial to only invest money you can afford to lose.

Despite its popularity, Shiba Inu lacks fundamental value and could eventually lose steam. If you’re considering investing, now might be a good time given the current market conditions. Keep your investment small and be prepared for volatility.

Before investing in Shiba Inu, consider other options. The Motley Fool’s Stock Advisor team has identified 10 stocks for potential growth, none of which include Shiba Inu. Their picks have historically outperformed the market, offering substantial returns over time. Join Stock Advisor for access to their latest recommendations.

Read more at Yahoo Finance: 1 Reason Why Now Is the Time to Buy Shiba Inu (SHIB)