Core Insights - Shiba Inu cryptocurrency was launched in 2020 by an anonymous developer, Ryoshi, aiming to capitalize on the success of Dogecoin [1] - An investment of $3 in Shiba Inu at the beginning of 2021 would have yielded a return of 45,278,000% by the end of that year, turning it into over $1 million, but the token subsequently lost more than 90% of its value by mid-2022 [2] - Currently, Shiba Inu trades at approximately $0.000008, requiring a 12,500,000% increase to reach the $1 target set by its supporters [3] Market Dynamics - Shiba Inu lacks a unique use case compared to other cryptocurrencies like XRP and Bitcoin, which limits its organic demand and price appreciation potential [5][6] - The extreme volatility of Shiba Inu makes it unsuitable as a payment mechanism, as holders face significant risk of loss [6] - Despite attempts to create demand through initiatives like the Shiba Inu metaverse, these efforts have had minimal impact on the token's price [7] Supply Constraints - The total supply of Shiba Inu tokens is 589.2 trillion, leading to a market capitalization of $4.8 billion at the current price [10] - A hypothetical price of $1 per token would result in a market cap of $589.2 trillion, an amount that is not justifiable by any level of demand or adoption [10]