According to a CNBC-TV18 reportShiba Inu was India’s most popular cryptocurrency by 2024. SHIB was the most popular cryptocurrency in India, with nearly 9% all investors paying attention to it. Popular crypto with a dog theme was way ahead of its competition. Price action was positive in response to the large trade volume. SHIB reached the price of $0.00003 in 2024 in both March and December. The asset is facing some challenges this year.
How can Shiba Inus reclaim India’s attention in 2025
Shiba Inu’s (SHIB’s) price is going to be a real struggle by 2025. This asset’s value has steadily declined since its inception. SHIB’s price is down by 66% or more since last December. This asset has also fallen by over 85% since October 2021, when it reached its record high price of $0.00008616.
Shiba Inu’s (SHIB), downward price movement has led to an equally steep drop in the market cap. The market capitalization of the project places it at 29th place. SHIB used to be among the top fifteen projects not so long ago.
A lack of activity in the development sector could explain the dip in sentiment among investors. Shiba Inu’s (SHIB), however, still has few real-world applications. In 2023, the project launched the Shiabrium Layer-2 Network in an effort to bring more development into the ecosystem. Shibarium has very low activity in comparison to other blockchains, despite the fact that this move was widely applauded.
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Shiba Inu’s (SHIB’s) recent rally is largely due to the buzz surrounding the project. SHIB bullish buzz seems to be fading. The adoption rate amongst new crypto-users also appears to be low. If it keeps up its poor development and adoption rate, the asset won’t be able break free from its present predicament.
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Source: watcher.guru
