Shiba Inu, which was one of the best-performing cryptocurrencies in 2021, experienced a massive price crash in 2022. However, the crash was not due to any flaws in the Shiba Inu ecosystem but was a result of macro factors and geopolitical events that caused the global economy to crash. The recovery of Shiba Inu will depend on favorable macros and the adoption and expansion of the Shiba Inu ecosystem.
The developers of Shiba Inu are working to make the Shiba Inu ecosystem on par with the top-performing blockchains, but most of the developments so far have been on paper. As blockchain technology progresses, cryptocurrencies are no longer just alternatives to fiat currencies but are becoming utility tokens powering their own ecosystems.