Shiba Inu remains under pressure after a prolonged decline that has erased most of its gains from the pandemic era. While some holders view the low price as an entry point, critics question the token’s long-term case. Those doubts resurfaced after digital marketing entrepreneur Neil Patel warned investors against treating SHIB as a serious investment. At the time of writing, Shiba Inu trades at $0.000008186, far below its 2021 peak. The token has fallen 90.72% from its all-time high of $0.00008845. Despite that drop, parts of the community argue that history could repeat itself. Patel rejected that narrative and outlined several risks he believes outweigh any speculative appeal. SHIB price chart, Source: CoinMarketCap Lack of Utility and Fading Momentum Patel said Shiba Inu does not solve a real-world problem. He grouped SHIB with crypto assets that rely on attention rather than utility. In his view, Bitcoin positions itself as a hedge against inflation, while Ethereum supports real-world asset tokenization. Shiba Inu, he argued, offers no comparable function. As a result, Patel said SHIB’s price depends on broader crypto market cycles instead of internal fundamentals. He added that ecosystem updates have failed to move the token in a meaningful way. Projects such as Shibarium, the Shiba Inu metaverse, and the decentralized exchange have recorded limited adoption, according to his assessment. Patel also pointed to declining community momentum. He said the enthusiasm that fueled SHIB’s 2021 rally has faded. That loss of energy, he argued, aligns closely with the token’s sustained price decline. He described waning momentum as a signal of reduced investor interest and a shift in perception around SHIB’s relevance. While speculative trading remains part of crypto markets, Patel advised investors to focus elsewhere. He said stronger alternatives exist for capital allocation. Patel highlighted Bitcoin as an option that addresses systemic issues in the global monetary system, rather than relying on hype-driven cycles. Transparency Issues and Supply Constraints Patel’s comments echoed concerns raised within the Shiba Inu community. Critics have questioned the project’s governance and transparency. Community members have speculated that developers avoid accountability by operating under pseudonyms and withholding their identities during major events. Those concerns intensified after K9 Finance DAO, Shiba Inu’s official liquid staking partner, disclosed communication issues. As previously reported, the K9 Finance team stated that SHIB developers ceased responding to messages related to efforts to recover funds lost in the Shibarium Bridge hack. Following that disclosure, K9 Finance warned it could reassess its relationship with the ecosystem if affected users receive no compensation. Token economics also remain a central issue. Shiba Inu’s supply stands at roughly 589 trillion tokens. Critics argue that scale limits upside potential and undermines ambitious price targets. Large-scale token burns appear unlikely under current conditions. Most SHIB tokens sit with holders, and few show willingness to destroy assets they own.
