Shiba Inu (SHIB) saw a historic run during the 2021 bull market, rallying by several million percent and reaching an all-time high of $0.00008616 in October 2021 after widespread bullish sentiment and a massive token burn by Vitalik Buterin. Buterin had received half of SHIB’s supply after the project launched in August 2020 and later burned 90% of those coins.
The token still has about 589 trillion coins in circulation, a supply level that the article says creates a substantial barrier to large price moves. If the per-token price rises significantly, the project’s market capitalization would reach very high figures.
Early SHIB investors made millions during the 2021 rally, while many who bought at the peak now sit on losses.
The piece notes there is a chance SHIB could rebound and potentially reclaim its $0.00008616 high, but it calls another 2021-style surge unlikely; recovering losses is possible for some, yet replicating the previous outsized gains may be out of reach.
