- Shiba Inu (SHIB) has lost over 86% of its value since its peak in October 2021.
- SHIB’s rank has dropped from the top 20 to the 23rd largest cryptocurrency by market cap.
- The project’s utility remains limited, despite the launch of the Shibarium layer-2 network.
- Experts say SHIB’s price could rise if more applications are built on Shibarium or if a significant token “burn” reduces supply.
- SHIB has struggled to stay above the $0.00003 price level since December 2024, while other cryptocurrencies reached new highs.
Shiba Inu (SHIB) has experienced a sharp decline in value, falling more than 86% from its all-time high of $0.00008616 recorded on October 28, 2021. As of 2025, SHIB has slipped to the position of the 23rd largest cryptocurrency by market capitalization.
In 2024, SHIB’s price climbed to $0.000036 in March and briefly reached $0.000032 in December. However, the token has struggled to consistently remain above the $0.00003 mark since late 2024. Unlike assets such as Solana (SOL), BNB, and Pepe (PEPE), which mirrored Bitcoin (BTC)’s gains, SHIB did not experience similar positive trends.
A key reason for this underperformance is SHIB’s limited practical uses. The SHIB team introduced the Shibarium layer-2 network to encourage development within the Shiba Inu ecosystem. However, only a few projects have been created on this network, and demand for SHIB remains weak.
According to early Bitcoin (BTC) investor Davinci Jeremie, SHIB’s future growth may depend on expanding applications on Shibarium, which could increase demand for the token. “More applications will drive demand for SHIB, leading to a price surge,” Jeremie noted.
Another factor that could impact SHIB’s price is its large token supply, currently at 589 trillion tokens. The team is reported to be developing a new token “burn” mechanism, which would reduce the overall supply, but details of this initiative have not yet been released. Token burns remove crypto tokens from circulation in an attempt to increase scarcity and potentially the token’s price.
While SHIB’s burn rate has recently hit 0% even as whale investor holdings increased by 600%, the coin continues to face challenges in regaining previous price levels. It is unclear when or if upcoming initiatives will have a measurable impact on Shiba Inu’s performance.
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