Shiba Inu cryptocurrency down 95% from all‑time high

Shiba Inu (SHIB), a meme‑coin launched in 2020, has lost about 95% of its peak value reached in October 2021. After briefly climbing to roughly $0.00003 in early 2024, the token fell to near $0.000004 amid broader market weakness and tighter monetary policy.

Analysts cite the token’s massive circulating supply of roughly 589 trillion units and the slow rate of community‑initiated token burns as key obstacles to price recovery. The U.S. Federal Reserve’s high‑interest‑rate stance has reduced liquidity for speculative assets, further dampening demand for meme coins. Despite these challenges, the project’s large, active community and ongoing development efforts keep some investors hopeful that a more favorable macro environment could spark a rebound.