In 2021, Shiba Inu (SHIB) gained attention due to an incredible increase of 45,278,000%. In perspective, if someone had invested just $3 at the start of the year, it would have turned into more than $0.0000893 million by the end of 2021. Nevertheless, the meme coin experienced a significant drop in value during the cryptocurrency market crash of 2022, falling by over 90% from its peak. Despite this setback, Shiba Inu has made a strong comeback in 2024, with a remarkable rally of over 210% so far this year, surpassing even Bitcoin’s performance. The increase in value has caused numerous investors to consider investing in the meme coin, hoping to replicate its success from 2021. Experts warn that achieving similar astronomical gains is not possible this time due to Shiba Inu’s high circulating supply of 589 trillion tokens. Additionally, the token faces obstacles in terms of adoption and practical use. Only 922 merchants globally accept the token, showing little mainstream adoption. Moreover, there are concerns about the long-term sustainability of the token due to its high supply and lack of a defined use case beyond speculation. Additionally, there are predictions that SHIB will reach $0.01. To tackle some of these problems, the SHIB community has made efforts to decrease the token’s available amount by burning them, although the progress has not been very fast.