Shiba Inu’s Next Move: Can It Chase Bitcoin and Ethereum to a Record-Breaking High?
Dogecoin’s spinoff token Shiba Inu (SHIB) has been nipping at the heels of crypto giants Bitcoin and Ethereum—but can it really sprint to a new all-time high alongside them?
The memecoin’s wild volatility makes it a high-stakes gamble, not an investment. While BTC and ETH rally on institutional adoption, SHIB’s fate hinges on retail traders chasing the next dopamine hit.
Here’s the brutal truth: Without utility or institutional backing, SHIB’s 'ATH dreams' rely purely on speculative frenzy. Meanwhile, Wall Street quietly loads up on Bitcoin ETFs—because nothing says 'hedge against inflation' like a dog-themed token with unlimited supply.
Will Shiba Inu defy the odds? Or will it crash back to earth when the hype train derails? One thing’s certain: In crypto, even the underdogs get their day—until they don’t.
Can Shiba Inu Follow Bitcoin’s Trajectory?
Shiba Inu (SHIB) hit an all-time high of $0.00008616 in October 2021. According to CoinGecko data, SHIB’s price has fallen by 84% since its 2021 peak. During the 2021 bull run, SHIB was following Bitcoin’s (BTC) trajectory. However, things seem to have changed over the last few years. SHIB is registering gains, but not in the same caliber as BTC. SHIB’s 2021 rally was fuelled by Vitalik Buterin’s massive 410 trillion token burn. Replicating another similar burn is highly unlikely.
BTC’s recent rally is likely due to lower CPI figures. The low CPI numbers have boosted expectations of an interest rate cut in September. Lower interest rates will likely lead to investors taking on more risks. SHIB may also follow the same pattern.
BTC’s price also also been greatly aided by consistent ETF inflows. Institutional money has played a central role in the recent rally. Ethereum’s (ETH) upswing also follows a similar pattern. ETH ETFs have seen massive capital inflows over the last several months. This is where Shiba Inu (SHIB) falters.
SHIB does not have an ETF product. The possibility of a spot SHIB ETF is also very low. Memecoins come with a lot of risks. It is unlikely that the SEC will approve a spot SHIB ETF anytime soon, if not ever.
