Shiba Inu’s price remains down more than 90% from its 2021 peak, but developers are building new utility through a layer-2 network and business-focused Web3 platform. Analysts suggest these developments could lead to a significant long-term price recovery, with one forecast anticipating a new all-time high by 2030.
Shiba Inu achieved a remarkable launch after its debut in August 2020. Its price surged to an all-time high of $0.00008616 just over a year later in October 2021, creating substantial wealth for early investors. CoinGecko data now shows the asset’s price has declined by more than 92% from that peak.
Developers are actively working to create more use cases for the project. They launched the Shibarium layer-2 network in 2023 to foster application development within the ecosystem.
The team has also introduced the ShibOS platform, aimed at helping businesses transition into Web3. As blockchain adoption grows, this platform could position Shiba Inu at the forefront of corporate migration to decentralized technology. A metaverse initiative for the SHIB ecosystem has been launched as well, though metaverse projects have recently seen reduced focus.
A new token burn mechanism is reportedly in development, rumored to be capable of destroying trillions of coins annually. This addresses one of the key barriers to higher price levels, which is SHIB’s massive circulating supply. Long-term holders may see gains as more adoption and development occurs within the ecosystem.
Telegaon analysts paint a bullish trajectory for SHIB’s price. Their forecast anticipates the asset reaching a new all-time high of $0.000124 by the end of this decade.
