Three key ingredients are needed for the cryptocurrency to rise.
1.A booming overall cryptocurrency industry:
A rising tide raises all ships. The opposite of the original adage is also usually correct. If Shiba Inus has any chance of reaching 0.01, there will likely need to be a booming market for all cryptocurrencies. I’ve noted in the recent past that the single biggest threat for Shiba Inu would be that investors could shift to “risk off” mode. In such an environment where investors could head for the exit en masse, Shiba Inu could lose out on significant gains. To be sure, a crypto boom wouldn’t necessarily translate into huge gains for Shiba. There are other factors outside of the cryptocurrency realm that could hold Shiba Inu back. But the chances that Shiba Inu can reach 0.01 in a negative crypto market, in general, are very low.
2. Game-changing catalyzers
Let’s assume, however, that the crypto market continues to remain healthy and attracts even more buyers. Shiba Inu won’t need any major catalysts to soar anywhere near 36,000%! The good news is it’s not too difficult to imagine some milestones that could cause Shiba Inu to move significantly higher. For example, Robinhood might list Shiba Inu. But it wouldn’t be enough alone to push the coin to a price tag of $0.01! The planned launch of Shibarium, a layer-two network, could also provide some momentum. Shibarium will address the congested and expensive nature of the current Ethereum blockchain on top of which Shiba Inu runs. Perhaps the biggest catalyst on the horizon for the coin is the development of games, thus far, Shiba Inus haven’t participated in the growing demand for gaming coins. That could change by early next year, though. Shiba Inus new hire, Playside Studios, hired Playside Studios to create a multiplayer collectible card games that will be released on multiple platforms, including PC, Mac, iOS, and Android. The Australian video game studio says it has over 50 games under development, including titles for Disney, Nickelodean, and Warner Bros. This game will only be one of many potential titles that could come out of Shiba Inus own metaverse.
3. Time and Patience:
Finally – and most importantly – Shiba Inu needs patience. Don’t expect the same multi-million percent returns that were seen last year to occur again, especially within just 12 months. Shaba Inu is no longer an unknown player that it was back then. It will probably take years for the crypto currency’s value to hit $1.00, if it ever does. Time isn’t automatically in Shiba Inu’s favor, however. Other cryptos could overtake Shiba Inu’s market share over the next few years, too.