The biggest reason Shiba Inu ($SHIB )is struggling to reach $0.00001 is its excessive supply. Currently, 794.41 trillion $SHIB are in circulation, meaning the market cap would need to grow significantly for the price to increase.
Key Issues:
- Token burns are happening too slowly.
- Being a meme coin, its performance heavily depends on market trends.
- Due to the massive supply, every new development update has a limited impact on price.