RESOLVING THE LEDGER
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Collectively speaking, cryptocurrencies have been in a bear market since late last year. Although the total value of all coins and tokens in circulation has increased by $500 billion during the past month, it still stands at just $2.8 trillion, which is well below last year's record high of $4.3 trillion. Every major coin continues to nurse steep losses since the 2025 bull market ended, including market bellwether Bitcoin , which is 38% below its peak.
But the smaller end of the market is faring much worse. Meme coin Shiba Inu (CRYPTO: SHIB) hasn't reached a new high since 2021, when it delivered a mind-boggling return of 45,278,000%. That remains one of the best annual gains in financial market history, but it was driven mostly by speculation, which is why it has failed to rebound.
In fact, Shiba Inu is trading at $0.000005 per token as I write this on Aug. 30, which is 94% below its 2021 peak. But if the recent upside across the broader crypto industry turns into a fresh bull market, could Shiba Inu stage another historic rally and potentially cross the $1 milestone? The answer will blow your mind.
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