The year 2022 was not as promising for SHIB as investors would have imagined.
But experts believe that this year’s major SHIB development might trigger the token to attain new heights.
This year, the Shiba Inu community is expected the launch of Shibarium and the ecosystem’s new token, TREAT.
Furthermore, multiple crypto platforms are also launching the mega giveaway of the SHIB token to stimulate its adoption rate.
The self-described "Dogecoin killer" has proven to be more than a joke coin.
In the past few years, the Shiba Inu token has gained significant popularity due to its inevitable adoption rate. SHIB is the native and first token of the Shiba Inu ecosystem, which is powered by the Ethereum blockchain.
The token was launched in August 2020, but it gained popularity in the fourth quarter of 2021 with a historic bull run. After that, the token's ecosystem experienced significant advancements.
Later, the token was accepted by several companies as a means of payment, increasing its popularity even further. However, the year 2022 was not as promising for SHIB as investors would have imagined. Last year, the Shiba Inu token witnessed significant losses.
But the crypto community and experts remain optimistic about the potential growth of the token. Experts believe that this year’s major SHIB development might trigger the token to attain new heights.
The Shiba Inu community anticipates the Shibarium's launch in 2023. Shiba Inu could top multiple rankings after Shibarium's release, as it will bring several new features to the network.
Furthermore, the Shiba Inu ecosystem plans to provide users with a better experience. Also, the burn rate of SHIB has remained pretty high over the last year.
The same was true when factoring in the token's deflationary features, which increased the likelihood of a price explosion in the long run due to decreased supply.
Furthermore, the Shiba Inu ecosystem hinted at the launch of a new token on its platform. The new token is expected to be called "TREAT," and it will be another step forward for the SHIB metaverse.
This indicates that the token might witness substantial growth this year, both fundamentally and technically. Furthermore, several crypto platforms are also launching mega giveaways of the SHIB token to stimulate token adoption.
CoinGabbar is one such platform. CoinGabbar is India's leading crypto information and research marketplace. In the past few months, the platform has successfully completed several mega giveaways.
This time, the platform is expected to launch the mega giveaway of the Shiba Inu token. To learn more about the Shiba Inu giveaway, stay tuned with the platform's social media handles or register yourself at CoinGabbar.
What are your thoughts on the Shiba Inu token's fundamental growth potential? Do you believe the token will hit $1 this year? Please share your valuable thoughts in the comment section below.
Also read: ETHEREUM PRICE ANALYSIS CMP-$1,570: Bulls are thirsty, but a bottleneck has been noticed near $1600
