Shiba Inu Coin Reflects the Altcoin Cycle’s Long Pause
- In a recent post, yourfriendSOMMI reminded crypto traders about one of the wildest moments in altcoin history — when Shiba Inu ($SHIB) exploded from a $45,000 market cap to $45 billion at its peak. “Five years ago was the last time that altcoins in general started going up,” he noted, adding that “Shiba Inu pumped 1,000,000x.”
- That energy feels like ancient history now. The chart shows $SHIB’s sharp intraday drop — a steep fall followed by a weak bounce near $0.000035 — highlighting how shaky sentiment is right now. Even with a brief +5.85% bump, the broader picture shows no real buying momentum, typical of a worn-out market.
- The tweet points to something bigger: the post-hype hangover in altcoins. Many retail investors who jumped in during the 2021 bull run have sat through years of low liquidity, dying hype, and tokens that don’t actually do much. Without real use cases, meme coins struggle to pull in fresh money once the excitement dies down.
- The numbers tell the story. During SHIB’s peak, speculation fueled DEXs, NFTs, and small-cap projects. Now? Trading volumes have tanked, with altcoins down over 80% from 2021 highs. For most investors, the play isn’t about chasing nostalgia — it’s about understanding that cycles repeat, and that innovation, not memes, powers the next move up.
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