Because it has huge supply.
If a coin has so much suplly it cant make easily 1 Dollar you know?
The problem was shiba holders keep denying it and they do believe if shiba will reach $1 value in the future. It looks so funny to see that if meme coin marketcap will be more than the marketcap of major company in the world.
I think that they must be waking up from their dream about that. Shiba will stuck at this rate or it may be dumped to the bottom.