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Collectively speaking, cryptocurrencies have been in a bear market since late last year. Although the total value of all coins and tokens in circulation has increased by $500 billion during the past month, it still stands at just $2.8 trillion, which is well below last year’s record high of $4.3 trillion. Every major coin continues to nurse steep losses since the 2025 bull market ended, including market bellwether <a href="https://xpertsstudio.com/are-<a href="https://xpertsstudio.com/bitcoin-price-forecast-whats-next-for-btc/” title=”Bitcoin Price Forecast: What's next for BTC?”>bitcoin-ethereum-and-xrp-poised-for-recovery/” title=”Are Bitcoin, Ethereum and XRP poised for recovery?”>Bitcoin, which is 38% below its peak.
But the smaller end of the market is faring much worse. Meme coin Shiba Inu (CRYPTO: SHIB) hasn’t reached a new high since 2021, when it delivered a mind-boggling return of 45,278,000%. That remains one of the best annual gains in financial market history, but it was driven mostly by speculation, which is why it has failed to rebound.
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In fact, Shiba Inu is trading at $0.000005 per token as I write this on Aug. 30, which is 94% below its 2021 peak. But if the recent upside across the broader crypto industry turns into a fresh bull market, could Shiba Inu stage another historic rally and potentially cross the $1 milestone? The answer will blow your mind.
Adoption remains a weak point for Shiba Inu
Assets need a sustainableause the underlying companies regularly report increased earnings, and real estate prices appreciate because people will always need a place to live on limited inhabitable land
Many cryptocurrencies also have tangible fees when running decentralized software applications, while XRP is used to send money around the world over the Ripple Payments network. Bitcoin also has real demand from investors who consider it to be a legitimate store of value and hedge against inflation, thanks to its decentralized structure and limited supply
Unfortunately, there is no demand for Shiba Inu in the real world. It can be used for payments, but only 1,219 businesses globally are willing to accept it in exchange for goods and services, according to crypto directory Cryptwerk. If consumers can’t spend their tokens at their favorite stores, they have no reason to own them.
Furthermore, Shiba Inu isn’t linked to any decentralized app platforms, and given that it hasn’t set a new all-time high in more than five years amid a broader bull market, it definitely suggests it isn’t a good store of value. The lack of organic demand alone explains why Shiba Inu can’t seem to regain its past momentum, but there is even more bad news for investors.
Source: finance.yahoo.com