cryptocoin.com As our readers closely follow, Shiba Inu (SHIB) continues to set the crypto world on fire with its massive market cap and bullish trading position. In detail, SHIB currently ranks in the top ten cryptocurrencies along with leading crypto assets according to data provided by CoinGecko. Indeed, this success of SHIB attracts the attention of investors worldwide.
According to the analyst, there is something in the SHIB network that can cause FUD
However, according to crypto analyst Jay Manila, this position of the meme-coin also worries some of its communities in the crypto world. In particular, traders fear that history may repeat itself as SHIB regresses after its massive price pump in May-June.
The chart above shows SHIB’s price comparison in June and November. Noting that the price of SHIB has suffered heavily after the price increase in May, the analyst reminds that the price has dropped to almost 90%, a price position that makes most SHIB holders cry.
Meanwhile, the chart also shows the current price position of SHIB and takes the same pattern as it did in May. As a result, traders and investors are now worried that SHIB may follow the same path as it did before. According to the analyst, this is indeed something that can cause FUD on the SHIB network (Fear, Uncertainty, Doubt).
On the other hand, the analyst notes that today, SHIB is building a lot of great technology in its network and slowly but surely transforming its network for a meme coin to have real use cases available to its holders worldwide. The analyst thinks that this is a great chance for the crypto to invite more investors to its platform and maintain its bullish position. At the time of writing, the Shiba Inu (SHIB) is trading at a price of $0.00005515 and a massive market cap of over $30 billion.
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