You've heard of falling stars. Crypto has a falling moon.
Terra's price (CRYPTO: LUNA) has crashed over the past few days. The digital token lost nearly all of its value. The panic also boiled over into other cryptocurrencies. During the month of May, Shiba Inu (CRYPTO: SHIB) fell nearly 50% and remained down by nearly 30%. But the worst could be over for the meme coin. It's not going to be Shiba Inu (Luna).
The Terra meltdown could understandably cause investors to wonder if Shiba Inu might be next. For now, the answer is no. Shiba Inu isn't currently linked with any stablecoin available for trading.
However, there is a Shiba Inu stable coin in development. According to Shytoshi Kusama, the Shiba Inu stable coin project "is nearing completion."
Shiba Inu won't suffer the same fate as Terra anytime soon. However, there's an important takeaway from the recent crypto crash caused by Terra that Shiba Inu investors should take to heart.
The reality is that Shiba Inu's fortunes are connected to the broader cryptocurrency market. Shiba Inu's chances of moving significantly higher are slim to none if investors sour on cryptocurrencies. On the other hand, if cryptocurrencies return to favor as an asset class that investors like, Shiba Inu has a good chance of doing so as well.
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