5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

Shiba Inu to rule cryptocurrencies? In the past three years, many crypto investors especially from Southeast Asia have shown their support for this dog-themed cryptocurrency. From Shibarium to Elon Musk’s support, there are multiple reasons why Shiba Inu will witness a massive price rally in 2023.

Here are the 5 main reasons why it is expected that Shiba Inu will rule the crypto market in 2023:

Shiba Inu (SHIB)’s Recent Price Rally

The last few days have been eventful for this meme coin. Currently trading at $0.00001212 with a 24-hour trading volume of $391,109,797, Shiba Inu started its new year with a price value of $0.0000086. If the coin continued to keep the pace constant, it might reach the new ATH this year.

Shibarium – Low gas fees for future success

SHIB is built on top of the Ethereum blockchain. As a result, its gas fees have been much higher than anyone would like. Shibarium is a blockchain/layer-2 solution that will usher in lower transaction fees.

Shytoshi’s faith in Shibarium

Shytoshi held a Q&A session on Telegram with investors. While answering one of the questions Shytoshi Kusama said, people will not celebrate when the Shibarium Beta launches. Instead, they will consider building projects to enhance the network. Shytoshi added that instead of celebrating, users will connect, build, and work together to strengthen the L2 platform.

Valuable meme crypto brand

To stand out in the ocean of altcoins, stablecoins, meme tokens, and newly launched cryptos, effective branding is key. Shiba Inu has been trending on social media, and its brand has been spreading like wildfire.

Elon Musk-driven

Elon Musk has a thing for meme coins and his tweets are the proof. SHIB is fortunately on Elon Musk’s positive tweets. He once tweeted about getting a Shiba Inu dog, and the price of SHIB rose to 300%.

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.