Even though Shiba Inu has emerged as the ‘Dogecoin killer’, the crypto market meltdown has caused the SHIB token to lose its relevance in the market.
According to coinmarketcap, the current value of Shiba Inu is US$0.00002383, occupying the 15th rank in the global crypto market.
In 2022, the SHIB tokens still remain to be one of the most demanding meme coins on the market and its growing community is still an asset.
But experts predict that it will continue to lose its dominance even further if its market value does not rise. By the end of 2023, they predict the crypto to be even less functional.
In the last couple of weeks, the SHIB token surged, showing signs of improvement and recovery. There are several reasons why this might have happened.
One of the most prominent reasons is probably because of its recent collaboration with Welly’s fast-food chain.
Shiba Inu-themed restaurant, located in Italy, and even has a Shiba Inu dog as its official image. It accepts crypto as a form of payment and plans to include it throughout its marketing materials.
Another possible reason for its recent spike might be its blockchain project known as the Shibarium.
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