In 2023, Shiba Inu (SHIB) and other memecoins like Dogecoin (DOGE) were unable to take the lead against stronger cryptos like Bitcoin’s (BTC) over 150% growth and Solana’s (SOL) almost 1000%. Despite the pup-themed coin launching of its own layer-2 network, Shibarium, it struggled to keep up and show significant rise.
However, hopes are being invested into January 2024, as multiple prognosis from futures like CoinCodex indicate a potential rhythmic rise up to $0.00001158 by the of the month, settling at a 7.2% increase. Other sources, like Changelly or estimates of $0.000571 point to a bright yet cha Day traderredictable future:
Due to SHIB’s immense circulating supply, holding back its performance, any new proceedings towards its reduction may aid in rocketing it to expected prices. Boosters come also from digital bulls wagering high on Bitcoin ETFs and BTC’s halving in April: the increased demand could provoke a ripple effect making SHIB spike. As stated, Shibarium will commence token burning this month, another avenue to invest a fertile land for SHIB to pick up root.