The post Why Shiba Inu (SHIB) Price Might See 10x Rally in 2023? appeared first on Coinpedia Fintech News
Shiba Inu (SHIB) suffered a similar fate to other cryptocurrencies in 2022, experiencing a steep pullback during the crypto winter of that year. Despite this, the meme currency managed to remain in the spotlight, with some developments taking place.
However, it has struggled to gain bullish momentum.
SHIB’s Major Developments In 2022
In April 2022, Shiba Inu announced the Shiba Inu Metaverse, which featured Shiba Lands open for public purchase.
The project’s goal was to utilize the entire Shiba network, including its tokens SHIB, LEASH, and BONE. In February, Shiba Inu launched DOGGY DAO on ShibaSwap to move the network towards decentralization.
#ShibArmy, we are happy to announce DOGGY DAO will be officially launched in the upcoming hours with our first phase DAO 1!
#DoggyDao brings community voting rights, while also accomplishing a closer path to our mission for decentralization.
Read..https://t.co/BcFkMqehxI
— Shib (@Shibtoken) February 18, 2022
Additionally, the network aimed to launch Shibarium, a Layer-2 blockchain, to increase transaction speed and allow for more transactions to occur simultaneously. However, the launch was delayed until 2023.
Love meeting with the team from @UnificationUND about #Shibarium. Aligning. Onboarding. Finalizing. Soon. Very soon.
— Shytoshi Kusama
(@ShytoshiKusama) December 29, 2022
Despite significant whale activity, the price of SHIB was not impacted.
JUST IN: $SHIB @Shibtoken one of the MOST USED smart contracts among top 5000 #ETH whales in the last 24hrs
Peep the top 100 whales here: https://t.co/kOhHps8XBB
(and hodl $BBW to see data for the top 5000!)#SHIB #whalestats #babywhale #BBW pic.twitter.com/TFTJS9Ecnl
— WhaleStats (tracking crypto whales) (@WhaleStats) January 1, 2023
Will 2023 Be A Good Year For SHIB?
With these developments and others that are planned for the future, it is possible that SHIB’s fate could improve in 2023. It is worth noting that Shiba Inu had a relatively high burn rate last year, but the network is planning to provide a better user experience going forward.
Additionally, the Shiba Inu network is planning to launch a new token called TREAT.
These developments are surely expected to give a major push to the SHIB price in the coming days.
