Shiba Inu, Which Surged 85 Million Percent, Will the Glory of 2021 Return?

▲ Shiba Inu (SHIB) / AI-generated image ©

Shiba Inu (SHIB), once a sensation in the crypto market that created countless millionaires, has fallen into an endless slump, and a bleak assessment now suggests that a repeat of its explosive past glory is virtually impossible.

According to cryptocurrency media outlet Watcher.Guru on February 21 (local time), Shiba Inu recorded an astonishing return of 85,000,000% between 2020 and October 2021, briefly surpassing even the fame of Dogecoin (DOGE). However, it is now in persistent decline. Due to a downward trend that has continued since 2023, the token has suffered the humiliation of adding another zero to its price unit, leaving the majority of investors either facing principal losses or struggling to break even.

The hype and buzz surrounding meme coins that once swept the market have long since cooled. After an extended period of sideways movement, Shiba Inu continues to trend downward rather than rebound, testing investors’ patience to the limit, as the euphoria of 2021 has been completely replaced by the sorrow of a bear market.

Adding to its woes, saturation in the meme coin market is also hindering any potential rebound. Emerging tokens such as Bonk (BONK) and Pepe (PEPE) have absorbed significant market share, while former leaders like Dogecoin and Shiba Inu are gradually fading from public attention.

Shiba Inu’s revival now depends not on simple word-of-mouth hype but on tangible ecosystem achievements, yet even these have proven disappointing. Shibarium, which had raised expectations of burning 1 trillion tokens, managed to burn only 1 billion, and its once-ambitious metaverse project has lost relevance. Above all, the massive circulating supply of 589 trillion tokens continues to suppress growth, making it difficult to expect a demand rebound without a dramatic reduction in supply.

In conclusion, experts draw a firm line, stating that the probability of Shiba Inu staging another dramatic rally like in 2021 is slim. The token has now deteriorated into a high-risk, high-reward asset with sporadic fluctuations, regarded as an investment suitable only for surplus funds that investors can afford to lose.

Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted for informational purposes only.