The cryptocurrency Shiba Inu (SHIB) has fallen to 22nd position in the market with a market cap of $7.26 billion. Let's look at the main reasons for this decline.
Team Internal Conflicts
The primary reason for the decline is the internal conflicts happening within the Shiba Inu team. Developer Kaal Dhairya admitted that the team cannot agree on key issues, slowing down project progress and leading to a loss of interest from the community.
Leadership Issues
The lack of transparency in leadership is also impacting investor trust. Shiba Inu's lead developer, Shytoshi Kusama, remains anonymous. This was acceptable when SHIB was merely a meme coin, but now, as a multi-billion project, many investors want to see who is behind it. His rare public appearances at crypto conferences have been lackluster, and the absence of activity on social media raises concerns among investors.
Lack of Institutional Interest
Shiba Inu largely remains a retail-driven token, complicating the attraction of larger investors unlike Dogecoin. The absence of ETF applications leads to low capital inflows, and the massive token supply of 589 trillion makes price growth challenging.
For Shiba Inu to climb back into the top 20 or even the top 10, the project needs to address internal issues, improve leadership transparency, reduce token supply, and attract big investors. The project team continues to work on restoring community confidence.
