What is holding SHIB back from reaching new highs?

SHIB has fallen nearly 71% since its all-time high of $0.00008616 in October 2021. Despite a rebound over the past year, many are still looking forward to whether it can return to its peak. If there is an opportunity, when will it come?

2020 and 2021 are the golden age of Shiba Inu. Some people made millions or more with a mere $12 investment. The madness at the time attracted countless investors to enter the market, hoping to witness the miracle of SHIB again in the future bull market, especially everyone has high expectations for the market from 2024 to 2025.

But the reality is that it will be difficult for SHIB to reach the top again, and there are many obstacles ahead.

Although the overall performance of the crypto market in 2024 was good, the limelight of meme coins was snatched by altcoins and big guys such as BTC and ETH. Even old meme coins such as Dogecoin DOGE did not rise significantly.

Although the approval of the Bitcoin spot ETF once caused SHIB to briefly soar by more than 350% at the beginning of the year, it didn't take long for its price to fall back to square one. The meme coin craze of 2021 seems to be difficult to reproduce.

Can SHIB set a new record high again?

It is unlikely that SHIB will set a new high in the short term, but it is still expected to usher in a wave of rebound. Especially with SHIB's upcoming stablecoin SHI, it may bring more use cases to the Shibarium network.

Although the specific release time of SHI has not been announced, many people believe that it will add a lot of value to Shibarium's applications, thereby indirectly increasing the adoption rate and price of SHIB. For investors who can't stand the volatility of cryptocurrency prices, SHI may be a safer choice.

Of course, for SHIB to set a new record high again, it still has to overcome many difficulties.

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