Shiba Inu Team Defends Project’s Relevance Amid Criticism and Market Doubts

The Shiba Inu development team has responded firmly to growing skepticism surrounding the project’s relevance, pointing to strong on-chain metrics that reflect continued activity and ￰0￱ clarification came after critics questioned whether the token still held value in today’s fast-evolving crypto ￰1￱ its significant price decline from previous highs, the team insisted that Shiba Inu remains a functioning ecosystem with a large and active ￰2￱ response aimed to reinforce investor confidence following renewed discussions about SHIB’s long-term ￰3￱ Inu Team Highlights Strong Market Presence Following Bitcoin’s record high of $126,198 on Monday, Shiba Inu’s official X account hinted that SHIB could be next to reach a new ￰4￱ that time, the token traded at $0.00001290, needing a 586% rally to surpass its October 2021 all-time high of $0.00008845.

The post stirred optimism among supporters but also triggered skepticism from those who questioned the project’s momentum and ￰5￱ user went as far as asking whether the Shiba Inu project was still “alive.” In response, the team shared updated figures to demonstrate the project’s continued market ￰6￱ to their data, SHIB currently has over 1.5 million on-chain holders and records daily trading volumes exceeding $214 ￰7￱ numbers, the team stated, confirm that Shiba Inu is “still very much here” and remains active in the broader crypto ￰8￱ figures underline that SHIB continues to draw significant participation despite its current market ￰9￱ token’s strong holder base and daily volume suggest consistent trading interest across major ￰10￱ team’s emphasis on data was seen as an attempt to counter the narrative that Shiba Inu has faded amid the rise of newer meme coins and evolving blockchain ￰11￱ Struggles and Internal Challenges Persist SHIB’s price performance paints a less favorable ￰12￱ reaching its all-time high of $0.00008845 in October 2021, the token has fallen by 85.51%.

It has also dropped 39.6% year-to-date, remaining stagnant around the $0.00001 ￰13￱ the time of writing, SHIB trades at around $0.00001268, up 0.1% in the last 24 ￰14￱ Price.