Shiba Inu (SHIB) led a dramatic rally in the 2021 crypto bull market, with prices rising by several million percent and peaking at $0.00008616 in October 2021. Early investors realized large profits, while many buyers at the top now sit on losses. After the token’s August 2020 launch, Vitalik Buterin received half the supply and later performed a massive token burn that destroyed 90% of those coins.

The supply remaining in circulation stands at roughly 589 trillion SHIB. That very large supply makes sizable price gains harder because a higher token price would imply an extremely large market capitalization. The supply dynamic has been a central factor shaping SHIB’s post-2021 performance.

Many investors who sold near the peak secured large profits, while others who bought at or after the high are still in loss positions. Market observers note there is room for SHIB to recover some value over time, and some holders could regain losses if prices rise.

However, the scale of the 2021 rally is widely seen as unlikely to repeat. While recovery to the prior all-time high is not ruled out, matching the 2021 percentage gains would face substantial headwinds due to the token’s circulating supply and market-cap implications.

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