Shiba Inu is undoubtedly the most popular cryptocurrency in the markets, with a larger-than-life fanfare. Investors depend on the token to satisfy their financial aspirations of becoming millionaires or even billionaires someday. However, the get-rich-quick dreams aren’t playing out well, as SHIB is giving nothing but nightmares in 2023. The dog-themed token has more downside and is unable to delete its fifth zero in the last eight months.
All hopes were on Shibarium, as investors believed that the network could sustainably scale SHIB’s price up in the indices. Shibarium was released last month and gave a reality check to the hopes and dreams of SHIB holders. Well, Shiba Inu did not spike in price after Shibarium’s release and moved backward instead.
Shiba Inu: What Next?
Shibarium is released, Welly’s is functioning, John Richmond clothing line hype is diminished, the Shiba Eternity game lost its buzz, and all the other developments are meager. So what’s next for Shiba Inu? The only developments left to release now are SHIB: The Metaverse, SHI stablecoin, and Treat token, among others.
SHIB: The Metaverse might not help SHIB’s price to scale up as the metaverse industry is down to its knees. SHI stablecoin could face fierce competition with existing stablecoins like BNB, and USDT, among others. Treat token might not do much for SHIB as it could be connected with Bone.
The only hope left for Shiba Inu now is the Shibarium burn mechanism. If Shibarium burns trillions of tokens each year, then SHIB might have hopes of reaching $0.01. If Shibarium doesn’t burn massive amounts of tokens, then the 1-Cent dream might be beyond reach.
No other option is now viable to drive SHIB’s price towards the 1-Cent mark. The road leading to $0.01 has narrowed, and Shibarium’s burn process could be the only saving grace.