Shiba-inu falls by 86% from its all-time high
Shiba Inu trades 86% below its peak as investors eye Shibarium adoption.
Shiba Inu (SHIB), once hailed as a rival to Dogecoin, now trades 86% below its October 2021 peak.
Currently priced at $0.00001047, the Ethereum-based meme coin holds a market capitalization of $6.17 billion and ranks 16th among all cryptocurrencies, reports CoinJournal.
As April 2025 nears, investors are closely watching Shibarium adoption, Bitcoin price trends, and potential regulatory shifts that could influence SHIB’s next move.
Key Takeaways
• Price 86% Below ATH: SHIB is down significantly from its October 2021 high of $0.00008845.• Market Cap at $6.17B: Despite the drop, SHIB remains in the global top 20 crypto assets.• Falling Wedge Pattern: Technical analysis shows a potential bullish setup, though short-term forecasts suggest limited upside.• Shibarium’s Role: The layer-2 solution may help drive real-world utility and boost SHIB demand in April.
Shiba Inu: From Meme to Market Player
Launched in August 2020 by the anonymous “Ryoshi,” Shiba Inu capitalized on Dogecoin’s popularity and the power of online communities. After reaching an all-time high of $0.00008845 in October 2021, SHIB’s value has plunged, trading now at just over one-tenth of its peak price.
Shiba Inu price chart. Source: coinmarketcap.com
Despite the downturn, SHIB’s enduring community support and large holder base have kept it in the spotlight. With a $6.17 billion market cap, it remains one of the most closely tracked meme tokens globally—even amid stiff competition from newer meme-based projects.
Technical Indicators Suggest Potential Rebound
Technical analysts on X (formerly Twitter) have identified a falling wedge pattern in SHIB’s recent price movement—typically viewed as a bullish reversal signal. Some traders speculate that a breakout could occur in April 2025. However, this is far from certain.
CoinCodex’s near-term projection forecasts a 2.19% decline, suggesting a potential price of $0.00001268 by April 28. While not a dramatic drop, it reflects ongoing caution in the market, with analysts pointing to the absence of strong catalysts that could drive an immediate rally.
Shibarium Adoption Remains Critical
The introduction of Shibarium, a layer-2 network built on Ethereum, is one of the most significant developments for Shiba Inu’s future. Designed to reduce gas fees and improve scalability, Shibarium aims to attract decentralized applications (dApps) and create tangible utility for SHIB tokens.
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Metrics such as wallet creation, transaction volume, and developer engagement on Shibarium will be crucial in determining its success. So far, early traction has been modest. If adoption fails to accelerate, Shibarium’s potential impact on SHIB price may be limited.
However, if April brings renewed crypto market optimism—particularly from Bitcoin’s movement or regulatory clarity—Shibarium could emerge as a growth engine for SHIB.
Recently we wrote, that Shiba Inu (SHIB), the second-largest meme coin by market capitalization, faces severe downside momentum as several technical indicators turn bearish.
