Back in May 2021, Shiba Inu (SHIB) stunned the market with a jaw-dropping 355% surge, kicking off what would become a legendary breakout for the meme-inspired token. It was a fresh face then, riding the wave of Dogecoin mania and making its first major splash. What investors got was a parabolic run and the birth of a crypto community phenomenon.
But SHIB in 2025 is not the same asset it was back then. Now worth about $8 billion and supported by its own layer-2 network and a much bigger ecosystem, it is no longer a surprise. The meme coin space is pretty saturated, people’s attention spans are shorter and it is harder to get the kind of viral momentum that SHIB used to have.
Fast forward to May 2025, and SHIB is no longer a scrappy upstart. It is an $8 billion asset with multiple listings and layer-2 solution Shibarium, with deep roots in the meme coin landscape. Can something that is already this big still deliver fireworks like it used to?
Yes, and not so long ago as March 2024, Shiba Inu skyrocketed 450%, briefly pushing its market cap above $20 billion – a reminder that under the right conditions, it still knows how to move.
Looking at the heatmap of past performance, SHIB has had some wild Mays – a 355% gain in 2021, a brutal 42.1% drop in 2022 and a modest +2.04% in 2025 so far. Clearly, May has been anything but predictable.
Perhaps the main question for Shiba Inu in 2025 is not whether it can repeat what happened four years ago but whether it can stay relevant in a space that is always changing. Still, it is the biggest meme coin on Ethereum.
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