“This meme coin will not hit $1 in the next 12 months or ever,” concluded The Motley Fool financial analyst Neil Patel. Despite a market capitalization of $3.3 billion and the launch of its own ecosystem projects—including a metaverse, a decentralized exchange, and a layer-2 scaling network—the token is trading 94% off its peak from five years ago.

As Patel highlights, Shiba Inu’s core issue lies in its lack of real fundamental value and an insufficient rate of token burns. “In the past 30 days, 375.6 million tokens were burned, translating to roughly 4.5 billion on an annualized basis—which represents next to nothing of the gargantuan supply of 589.2 trillion.”

Reaching a price of $1 would require a mind-boggling increase of nearly 18,000,000%, which is fundamentally impossible given the current circulating supply. Further pointing to fading interest is the fact that even the Shib Army community of supporters is losing enthusiasm, leading experts to advise investors to drastically temper their expectations.