Shiba Inu (SHIB) Struggles to Gain Momentum Despite Strong Ecosystem Development

Shiba Inu, the well-known meme token, is struggling to gain momentum in a sluggish crypto market. Despite strong ecosystem development, SHIB has failed to break out significantly.

Shiba Inu (CRYPTO: SHIB) is struggling to gain momentum in a sluggish crypto market despite strong ecosystem development.

Also Read: Exclusive: Benzinga Interview With FTX's New CEO Discusses Platform Relaunch, User Claims And More

What Happened: Shiba Inu, the well-known meme token, is failing to break out of a sluggish trading range despite having a busy few months with ecosystem development.

Shiba Inu is currently trading at $0.00001228, down 2% in the last 24 hours. Analysts are divided on whether the token can turn the tide by the end of March 2025.

Despite a bearish market that has slowed the progress of SHIB, the Shiba Inu ecosystem remains active.

Shiba Inu's ecosystem is buzzing with activity as new tech updates are being rolled out on a weekly basis across DeFi (ShibaSwap, Shibarium), gaming, and the metaverse, highlighting the continuous innovation at the core of the ecosystem.

"Holders, hold. Once we out traders, we will win," said Lucie in a recent X post.

Shiba Inu's developers are focused on the long-term growth of the token and are working hard to develop new products and services that will appeal to a wide range of users.

"We build. Every week, the Shib ecosystem moves forward—rolling out new tech updates across DeFi (ShibaSwap, Shibarium), gaming, and the metaverse. Innovation never stops. That’s what devs do—developing. Holders hold,"

What Next For SHIB PriceCrypto analyst Javon Marks remains optimistic about the price potential of Shiba Inu. He continues to predict that the token can rise to $0.000081.

"Still holding up that breakout that took place in late 2022/early 2023, and prices are still majorly positive since! With this price breakout holding, the target for $SHIB continues to be at the $0.000081 point, which is currently over 450% away," said Marks.

Marks' optimism is based on his belief that Shiba Inu is capable of staging an explosive move if buyers finally decide to step in and if there is a change in market sentiment.

However, not all analysts share Marks' bullish view. CoinCodex (CC) forecasts a weaker performance for Shiba Inu through March 2025.

According to CC's price prediction model, Shiba Inu is expected to reach a low of $0.00001107 by March 31, 2025.

Shiba Inu's price is tipped to drop slightly by 1.75% to $0.00001148 by April 8, 2025.

The crypto market is still in a bearish cycle, and the Fear & Greed Index stands at 27 (fear). Over the past month, Shiba Inu's price has moved up on 43% of the days (13 out of 30), showcasing some positivity. It also maintains a volatility rate of 7.78%.

Considering current technical indicators, it might not be an optimal time to buy Shiba Inu, according to CoinCodex's analysis.

Shiba Inu's long-term success depends on more than just hype. While bullish predictions like Marks' suggest massive upside potential, the real price action will depend on broader market trends, ecosystem adoption and investor sentiment.

If the Shiba Inu ecosystem continues to innovate and develop new products and services, the token could eventually find stronger footing and appeal to a larger audience.

But as March 2025 approaches, technical indicators suggest limited upside potential for Shiba Inu in the short term.