According to Binance data, Shiba Inu (SHIB), was one of the most closely-followed cryptocurrencies on the largest cryptocurrency market in the world. This was based on reported trade volume. The well-known cryptocurrency, which was launched in August 2020 and was inspired by memes, is one of the top cryptocurrencies by market value. Shiba Inu owners made huge profits in 2021. It was a great year. Interest in SHIB soared as more people bought SHIB coins to make quick gains. The price of the meme coin reached an all-time high of $0.00008616 in October last year, making some of its buyers millionaires. However, those hopes were quickly dashed when SHIB’s price plummeted in 2022 due to the Federal Reserve’s aggressive policy stance. Global monetary policies were more restrictive which increased borrowing rates and decreased investors’ willingness to take on risk. Many investors who believed in the meme coin’s popularity may still owe money, as the current meme coin is down to 90.08% from its peak. The altcoin is still popular and has a large following. This keeps the meme coin afloat despite the significant correction. Whether or whether developers are prepared to introduce the Shibarium layer-2 solution is a topic of discussion among some members of the community.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: BinanceCryptocurrency exchangeSHIBSHIB PriceShiba Inu