I'm looking at $SHIB down to $0.00000411 today and honestly, it feels like the retail frenzy has completely dried up. Is there any fundamental or technical case left, or is it just people holding onto what it once was? Change my mind.
It's tough to make a fundamental case for most meme coins, and $SHIB isn't really an exception. From a technical perspective, the long-term trend has been clearly down, and without significant volume or a clear catalyst, it's hard to see a reversal happening soon. What would you consider a fundamental case for it at this point?
I think it's fair to say a lot of the initial excitement has definitely cooled off. For me, it's more of a long-term hodl at this point, not expecting much short-term movement.