From Nasdaq: 2024-05-17 05:26:00

In 2021, financial markets saw unprecedented growth fueled by government stimulus and low interest rates. Shiba Inu stood out with a 45,278,000% gain but later collapsed by 92% due to industry crises, including the failure of leading crypto exchange FTX in 2022.

Investor confidence is returning as Shiba Inu stages a 120% recovery in 2024, surpassing Bitcoin’s 50% gain. However, the token struggles with adoption, having only 933 merchants accepting it compared to Bitcoin’s 9,442. Initiatives like Shibarium aim to improve utility but haven’t had significant impact yet.

Speculators drove Shiba Inu’s rise but reaching $0.10 would require a market cap twice the U.S. GDP. The community aims to decrease supply through token burning, but it may take years to have an effect. With high volatility, investing in Shiba Inu remains risky despite its recent gains in 2024.



Read more at Nasdaq: Can Shiba Inu Reach $0.10?