Shiba Inu's market performance this year has not been ideal, with the SHIB price dropping by over 60%. Interestingly, this outcome is not entirely surprising—SHIB, with 589 trillion tokens, was inherently burdened with an extremely heavy supply load. To reach $1? The market cap required would be almost astronomical, and a target of $0.01 also seems out of reach.

As a layer-two solution, Shibarium's initial plan was to optimize supply by destroying tokens through transaction fees, but in reality, this mechanism has failed to ignite market enthusiasm. The shrinking on-chain transaction volume best illustrates the problem—once averaging millions of transactions per day, it has now fallen to just a few thousand. The weekly destruction rate has also plummeted, with a decline of 96.96%.

What’s more disheartening is that SHIB currently lacks genuine use cases and market demand. There are only about 1,110 merchants worldwide willing to accept SHIB as a payment method, reflecting the poor adoption rate among users. The cold reality of the ecosystem starkly contrasts with the grand vision initially envisioned.