In accordance with a CNBC-TV18 report, Shiba Inu (SHIB) was the most-traded cryptocurrency in India in 2024. SHIB dominated the Indian charts, grabbing the eye of almost 9% of all buyers. The favored dog-themed crypto was far forward of the competitors. The excessive commerce quantity was additionally met with constructive value motion. SHIB breached the $0.00003 value degree in March of 2024 after which once more in December. Nonetheless, the asset appears to be dealing with some hurdles this 12 months.
Can Shiba Inu Reclaim India’s Consideration in 2025?
Shiba Inu’s (SHIB) value has confronted fairly a battle in 2025. The asset has seen a gradual decline for the reason that starting of this 12 months. SHIB’s value has dipped by greater than 66% since December of final 12 months. The asset can also be down by greater than 85% since its all-time excessive of $0.00008616, which it attained in October 2021.
Shiba Inu’s (SHIB) downward value motion has additionally led to a steep dip in its market cap. The challenge is presently the twenty ninth largest crypto challenge by market cap. SHIB was as soon as among the many prime 15 initiatives not too way back.
The dip in investor sentiment might be as a consequence of little developmental exercise. Shiba Inu (SHIB) nonetheless doesn’t have many real-world use instances. The challenge launched the Shiabrium layer-2 community in 2023 in hopes of bringing extra growth to the ecosystem. Whereas the transfer was applauded, Shibarium nonetheless has little or no exercise in comparison with different blockchains.
One of many essential causes for Shiba Inu’s (SHIB) rally was the hype across the challenge. The bullish hype round SHIB appears to be diminishing. Adoption amongst new crypto customers additionally appears low. The asset will be unable to interrupt out of its present predicament if it continues its lackluster growth and adoption curve.
