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Current market cap stands at $6.17 billion. CoinCodex sees a 2.19% drop by April 28, 2025. Shibarium layer-2 may boost SHIB’s ecosystem utility.

Shiba Inu’s value has dropped over 86% from its 2021 peak, as the meme coin continues to follow broader crypto market trends.

Once dubbed the “Dogecoin killer,” the Ethereum-based token is currently trading at $0.00001047, well below its all-time high of $0.00008845. With a current market cap of $6.17 billion, Shiba Inu now ranks 16th among global cryptocurrencies.

Source: CoinMarketCap

As April 2025 approaches, key factors—including Bitcoin movements, Shibarium adoption, and regulatory changes—will play a pivotal role in determining the token’s next direction.

Launched in August 2020 by a pseudonymous figure known as Ryoshi, Shiba Inu quickly gained traction as a meme-based alternative to Dogecoin.

With the Japanese Shiba Inu dog as its mascot, the token initially soared on the back of retail hype and speculative trading.

Shiba Inu reached its record high of $0.00008845 in October 2021 but has since lost significant ground. At the time of writing, it is down 86% from that peak, now trading at $0.00001047.

Despite the decline, SHIB remains one of the most actively watched meme coins, holding a market capitalisation of $6.17 billion.

According to recent chart analysis on X, SHIB is currently trading in a falling wedge pattern—a technical indicator that some analysts associate with a potential price reversal.

While several users on X suggest the breakout could happen in April 2025, the pattern alone does not confirm a guaranteed upward move.

CoinCodex’s short-term forecast anticipates a 2.19% drop, with SHIB projected to reach $0.00001268 by April 28.

While some believe the pattern is bullish, this projection highlights the risk of further downside in the near term, especially in the absence of a broader market catalyst.

One of the more significant developments in Shiba Inu’s ecosystem is the introduction of Shibarium, a layer-2 blockchain network built to reduce transaction costs and improve scalability.

Designed to support decentralised apps (dApps), Shibarium aims to create real-world utility for SHIB tokens.

If Shibarium gains traction among developers and users in the coming months, it could drive increased demand for SHIB and expand its use cases. This could offer some fundamental support to the token’s price, particularly if broader market sentiment improves in April 2025.

Adoption metrics—such as wallet growth, transaction volume, and dApp activity on Shibarium—will be critical indicators to watch. A failure to attract meaningful developer and user engagement may limit SHIB’s potential to recover beyond speculative momentum.

Like most altcoins, Shiba Inu’s price trajectory is closely tied to Bitcoin. Historically, major rallies in BTC have triggered speculative runs in meme coins like SHIB, as traders look for high-risk, high-reward assets during bullish cycles.

Any positive movement in BTC in April 2025 could lift SHIB by association. Conversely, if BTC undergoes another round of corrections or enters a prolonged consolidation phase, SHIB’s chances of a breakout may diminish.

Regulatory developments and macroeconomic factors such as interest rate shifts, inflation data, and investor sentiment will also have an impact.

Changes in crypto-related policies—whether from the US, UK, or Asia—could either limit or boost investor participation in meme coins like Shiba Inu.

While Shiba Inu still has an engaged community, its future performance will depend less on hype and more on ecosystem growth, broader adoption, and alignment with overall crypto market trends.

The post Shiba Inu plunges 86% from all-time high ahead of April 2025 events appeared first on CoinJournal.

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