The popular meme-based cryptocurrency, Shiba Inu, has seen a drastic drop in value over the last month. Its decline has caused its social media popularity to plummet. The live price of SHIBA INU is $0.006619. It is up 2.5% in the last 24 hours. Alex Kruger, an analyst, said that the decline in the social interest of the Shiba Inu coin suggests that its time has come. The official Twitter account of the Shiba Inu coin warned about a new scam that has been circulating on social media. The team said that the scammers are posing as Shiba Inu users and creating fake accounts.
The Shiba Inu coin is heavily dependent on internet users’ interests. When this interest gets high, the coin will rise in value, but as it loses its value, investors will start selling their shares. Despite the volatility, Johnny Lyu, the head of Kucoin, said that the Shiba Inu coin could be an investment for long-term investors. He noted that people are still passionate about cryptocurrencies and are willing to push the prices higher. In a statement, the company warned that investing in crypto assets or loans linked to them could involve high risks and could result in loss of all your money.