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Shiba Inu Sees 16% Price Drop in May. Can it Recover?

Shiba Inu (SHIB) is credited as a highly prominent meme coin. Since its creation in 2020, SHIB has achieved global recognition and significant surge in its value and price.

However, in recent times, as the crypto market dipped, Shiba Inu has also taken a hit. During May, the meme coin has seen a 16% decline in its price (approximately).

Here is a graph by CoinMarketCap, showing the price movement of Shiba Inu over the last month.

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SHIB’s price plunge has been quite alarming and discouraging for people rooting for it over the last few years. This has sparked various questions and discussions regarding the future of the meme crypto asset.

It is speculated that if Shiba Inu’s price movement keeps declining, May might become the most catastrophic month for the meme coin. The crypto asset previously saw a staggering 25% drop in November 2022, following the collapse of the FTX exchange.

Despite the ongoing downward spiral Shiba Inu is in, a ray of hope has originated as SHIB perpetual futures have officially been listed on Kraken Pro.

It is speculated that being listed on one of the top crypto exchanges in the world (Kraken) can open new doors for Shiba Inu and offer more exposure to other crypto platforms and among crypto traders and investors.

However, the actual effect of Kraken’s listing of SHIB on its value and price can only be revealed over time.

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