The Shiba Inu cryptocurrency has lost more than 50% of its value.

Just three weeks from its all-time high in October 2021.

SHIB, at the time of writing, was "falling" to $ 0.0000491, with its market capitalization, according to Messari, amounting to $ 27 billion.

Some analysts noted that a sharp decline was inevitable, as its price had jumped more than 1,100% since October 1, 2021.

In particular, John Wick described the ongoing correction of SHIB's price as a "topping signal," implying that more sell-offs will come.

Fluctuations in prices of 50% or more are not uncommon in the cryptocurrency market.

Bitcoin (BTC), for example, had fallen from around $ 65,000 to $ 30,000 but then not only recovered but also hit a record high.

At the core of this increase was a well-structured narrative of hedging against inflation.

As for Shiba Inu, the main narrative is the… community, according to one of the currency's most famous supporters, David Gokhshtein.

The founder of Gokhshtein Media and CEO of PAC Protocol reminded us that the performance of Shiba Inu is due to the community's support, despite the need for significant funds from institutional or billionaire entrepreneurs.

However, the ongoing sell-off in the price of Shiba Inu has blurred expectations.

Many talks about a normal correction, which will bring a substantial rise.

This article is for informational purposes only and does not replace specialized consulting services with professional experts.

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