Shiba Inu's Market Struggles: Can it Replicate its 2021 Surge?

Shiba Inu's market performance has been stagnant for some time now, with the cryptocurrency struggling to regain momentum. One reason for this is the lack of hype and speculative fervor that characterized its 2021 rally. During this period, Shiba Inu skyrocketed from obscurity to a significant price point, driven in part by Ethereum co-founder Vitalik Buterin burning 90% of his SHIB holdings.

However, replicating even a fraction of this surge is considered unlikely due to the enormous growth required and market conditions that are vastly different from those of 2021. According to on-chain data, 549 billion SHIB have recently moved to centralized exchanges, indicating potential sell-offs and weakening technical patterns.