While some of the Altcoins were reaching new All-time highs in the chart, Shiba Inu was yet to join the party. At press time, Shib was valued at $0.00002706 with a market cap of $14.8 billion. With a crypto ranking of 15th in the chart, the price structure also seemed less impressive.
![](https://watcher.guru/news/wp-content/uploads/2022/03/SHIBUSDT_2022-03-30_14-35-46-1024x479.png)
![](https://watcher.guru/news/wp-content/uploads/2022/03/SHIBUSDT_2022-03-30_14-35-46-1024x479.png)
As highlighted in the chart above, Shiba Inu is yet to re-test its yearly open value of $0.00003337. The range was briefly breached back in February when a yearly high of $0.00003523 was registered. Now, at press time, the asset remains below the aforementioned targets but it is imperative to keep long-term fundamentals in mind. In terms of space for growth, Shiba Inu could be in a strong position based on Total Value Locked.
Shiba Inu and $BONE TVL only $200 million?
![](https://watcher.guru/news/wp-content/uploads/2022/03/ShibaSwap-1024x580.jpg)
![](https://watcher.guru/news/wp-content/uploads/2022/03/ShibaSwap-1024x580.jpg)
According to ShibaSwap.com, the total value locked or TVL by $Bone token is around $168 million. However, the aggregated value of all protocols involved is possibly higher. As indicated by DefiLlama, the total value locked is calculated to be as high as $200 million. Now, the TVL estimated is still quite low. As mentioned above, Shiba Inu has a market cap of $14.8 billion, and the TVL in that valuation is only $200 million. In comparison, take Ethereum as an example.
The 2nd largest asset has a market cap of approx $400 billion, and the TVL is about $130 billion. Hence, in hindsight, Shiba Inu hasn’t reached full potential in terms of its use-case from its decentralized exchange, which could easily push Shiba Inu’s price higher.
Are addresses building back up?
![](https://watcher.guru/news/wp-content/uploads/2022/03/SHIBA-INU-SHIB-14.55.41-30-Mar-2022-1024x347.jpg)
![](https://watcher.guru/news/wp-content/uploads/2022/03/SHIBA-INU-SHIB-14.55.41-30-Mar-2022-1024x347.jpg)
In terms of activity, Shiba Inu’s active addresses are beginning to show signs of revival. While it isn’t significant relative to the activity witnessed during May 2021, it is still a positive sign in terms of network fundamentals. Shiba Inu should be slowly breaking its facade of being just a short-term investment, as it continues to improve other facets of the network, to build consistency in the price charts over the long term.
Yesterday, the Shiba team also announced that a major announcement is due on 30th March, which could be eventful for the entire community. Such news may trigger a short-term price push for the asset as SHIB looks to reclaim the $0.00003 range.