Shiba Inu Likely To Fall Victim to Gravity, Says Bloomberg Commodity Strategist Mike McGlone – Here's Why.
10 Nov 2021, 08:00
Shiba Inu Likely To Fall Victim to Gravity, Says Bloomberg Commodity Strategist Mike McGlone – Here’s Why
Shiba Inu (SHIB) could be in for some rough times ahead, says Mike McGlone, Bloomberg Intelligence senior commodity strategist.
In the latest edition of the Bloomberg Crypto Outlook, McGlone refers to the popular memecoin as a “Dogecoin wannabe” and “an example of excesses among 13,000 cryptos.”
SHIB made headlines in recent months due to jaw-dropping gains. The 11th-ranked crypto asset by market cap is trading at $0.000057 at time of writing, up a staggering 74,142,662.9% in the past year. However, SHIB has dropped 19.5% in the past month.