It's because people are losing interest in old "meme" coins like Dogecoin and Shiba Inu. The latter was created as a means to enrich developers (and early adopters) following the success of Dogecoin in 2021. That was the year Gamestop "meme" stocks surged to the moon (WallStreetBets), and Elon Musk praised DOGE. It marked the beginning of the "meme" coins craze.
People moved on from Shiba Inu to newer coins (tokens) like BONK and WIF. It's where the money is. Once new "meme" coins come out, previous ones will become history. I wouldn't expect much of a future for SHIBA. Dogecoin is the only "meme" coin that will survive because it's the original project that started it all. Why not buy some DOGE instead?
People moved on from Shiba Inu to newer coins (tokens) like BONK and WIF. It's where the money is. Once new "meme" coins come out, previous ones will become history. I wouldn't expect much of a future for SHIBA. Dogecoin is the only "meme" coin that will survive because it's the original project that started it all. Why not buy some DOGE instead?
at this point indeed DOGE seems like more prospective investment than SHIB since DOGE is like the BTC of meme coins world.
but yeah, all the money just moving around the newer meme coins, I guess it will be like this until the bearish market hits.
so if anyone thinking of speculating with meme coin and want to do it the fast way, just follow the meme coin trend and join the band wagon, making money there will be easier since it's the hype.
but expect it to be a roller coaster as well.