Is there a chance for a recovery? Over its five-year history, the Shiba Inu (SHIB) cryptocurrency has experienced huge ups and downs. In the months following its launch in August 2020, the price of the meme token dedicated to the Shiba Inu dog breed rose by millions of percent, reaching an all-time high of $0.00008616 in October 2021.

Since its peak in 2021, the price of SHIB has fallen significantly, declining more than 91% from its all-time high. Consequently, SHIB's market capitalization has also plummeted.

While once ranked among the top 15 crypto assets by market capitalization, Shiba Inu (SHIB) currently ranks 36th. According to CoinGecko, the price of SHIB has fallen more than 66% since December 2024.

SHIB Price Change Over the Year. Data from CoinGecko

The price trajectory of Shiba Inu (SHIB) is largely dependent on Bitcoin (BTC). While BTC is the market leader, other assets are also unlikely to rise unless BTC demonstrates growth. BTC's trajectory, in turn, depends on macroeconomic factors.

Economic uncertainty has had a negative impact on the crypto market. Investors may be shifting their funds to safe-haven assets such as gold and silver. The rise in gold and silver prices to new all-time highs has signaled that market participants are adopting a more cautious stance on risk.

Given that the Shiba Inu (SHIB) coin carries one of the highest risks among crypto assets, the SHIB price will continue to struggle in the coming months. However, the situation may improve as macroeconomic conditions improve. What's the story?