The meme-coin sensation burst into the public consciousness in 2021, piggybacking on Dogecoin’s success to become the latest decentralized homage to man’s best friend (the Shiba Inu is a breed of dog). Shiba Inu — which is valued at fractions of a cent — rallied to an all-time high in late October, approaching a market cap of nearly $ 40 billion in the process. In turn, the token’s legions of devotees — dubbed the SHIBArmy — clamored for Robinhood to make SHIB available on the stock trading app’s crypto platform.

But since those heady days of a month ago, things have taken a turn for the worse. SHIB has bled value in recent weeks, with its market cap having been roughly halved to around $ 20 billion (and declining). Will its descent prove the ultimate buying opportunity for the SHIB Army? Or will 2022 see Shiba Inu slip ever more into meme-coin obscurity?

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