Shiba Inu's Price Suggests It's Not as Alive as Its Community

Shiba Inu (SHIB) has lost much of its luster since 2021, leaving many to wonder if it's still viable. Matthew Perry, a popular crypto YouTuber, believes SHIB remains alive due to its enormous community and potential for recovery.

However, our analysis suggests that the current situation is more serious than just an ordinary market decline. The token has fallen below an important level from 2021, making it harder to dismiss the 'dead coin' question.

Perry's argument relies on SHIB's large community and established identity, which could lead to a strong recovery during another altcoin season. However, our analysis focuses on what SHIB has actually done since 2021, and that record makes the current situation more troubling.