I don't really follow the development of the Shiba Inu token, but if you look at the trading volume of this meme token in the last 24 hours, the results are quite surprising, it is clear that the developer and also the community of fans of this token are quite enthusiastic
Coins like this are bordering being a ponzi-sceme, before becoming to be a lasting succes - or before indeed changing into a ponzi-sceme - and in result go down.
Believers will keep it going after this, it's all about believe anyway.
In general the Crypto-coins based communities it's a very new thing. The oldest one, the Bitcoin-community, is only 15 years old. Meme-coins are a lot younger and will still see a lot of development, shake-outs, new competitors and so on.
I'd say Shiba Inu stands no change if they can't create a succesfull DEX or a succesfull stable-coin or so, maybe a predictions-market.
But they have a huge head-start so they will have space to move for some time to come.