Shiba Inu finds itself back in familiar territory. After another downturn, the community is once again split. Some see the current prices as a chance to buy cheap.
Others believe SHIB has already lost what made it special. With 2026 getting closer, that disagreement is becoming harder to ignore. The problem is that optimism and price action are telling two very different stories.
What you'll learn 👉
Bulls Still See Hope on the Horizon
Supporters argue that SHIB still has a path forward. One key area of focus is regulation, and should the CLARITY Act move forward, it may provide a better understanding of what rules will or won’t apply within the space and may attract more institutional players.
Bulls see that, with SHIB being one of the most well-recognized meme coins out there, they may be able to capitalize on that.
There’s also renewed interest in Shibarium’s roadmap. The expected launch of Zama’s Fully Homomorphic Encryption technology next year has sparked discussions about privacy-focused smart contracts. Some believe this could give Shibarium a fresh narrative, especially if privacy becomes more important across crypto.
On top of that, a few traders have floated the idea of a SHIB-focused ETF after Coinbase rolled out regulated futures. While nothing is confirmed, it has helped keep the bullish side engaged.
#ShibaInu Set to Repeat Another Bearish Pattern This Month: Details. #SHIB 🧵🧵🧵 pic.twitter.com/AslJUwJ9WR
— TheCryptoBasic (@thecryptobasic) December 26, 2025
The Market Hasn’t Bought the Story Yet
Despite all of that, the SHIB price has barely reacted. Big announcements like the launch of Shibarium and partnerships such as K9 Finance failed to produce anything more than short-lived bounces.
Each rally has faded quickly, which has frustrated long-term holders. From a chart perspective, the SHIB price keeps slipping back into bearish patterns. Buyers step in briefly, but sellers regain control just as fast. Without consistent demand, price momentum continues to stall.
Trust and Leadership Are Under Scrutiny
Another issue that refuses to go away is trust in the development team. Even after more than five years, the core team remains anonymous. While that didn’t matter much early on, critics now see it as a serious red flag for attracting larger investors.
Communication has also been a sore point. Key figures like Shytoshi Kusama have gone quiet during critical moments, including the Shibarium hack.
Concerns grew further when K9 Finance said the team stopped responding about recovering stolen funds. For many, that raised uncomfortable questions about accountability.
Read Also: How People Spend Crypto Anonymously in 2026—No KYC Required
Supply and Utility Still Hold SHIB Back
The SHIB enormous supply continues to weigh on price. With over 589 trillion tokens in circulation, upward moves get diluted quickly. Token burns, once seen as a major catalyst, have slowed dramatically, with daily burns now down to just a few million tokens.
At the same time, new utilities have been slow to arrive. There are still projects that have not been completed. These include the AI initiative, SHIB: The Metaverse, and the upcoming layer 3 privacy network. Take note that the adoption rate is still low.
As a result, there is an increasing wave of skepticism. Some experts, including Neil Patel, warn of potentially better opportunities elsewhere.. For now, Shiba Inu remains caught between big promises and the hard reality of execution.
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