Shiba Inu's Price Hopes Hang by a Thread

Shiba Inu (CRYPTO: SHIB) has maintained its popularity despite a relatively small market capitalization of $3.3 billion, as of September 28. Its price increase was influenced by the success of Dogecoin, but it aims to be more functional with its presence on the Ethereum blockchain.

However, Shiba Inu is in a down cycle and needs positive momentum to change this trend. The question remains whether its price can increase by almost 18 million percent and reach $1 in the next 12 months.

The fundamental edge that supports real-world utility is crucial for any cryptocurrency's long-term success. Unfortunately, Shiba Inu falls short in this area. Despite innovative features such as a metaverse, decentralized exchange, and layer-2 scaling solution, its price has not been affected by these developments.