Shiba Inu (SHIB) has lost substantial luster over the last few years. The popular cryptocurrency had a meteoric launch in August 2020. SHIB’s price experienced a massive price rally within months of its debut, rising by several million percent. The asset went on to hit an all-time high of $0.00008616 in October 2021, at the peak of the 2021 bull run. However, SHIB’s price has fallen by more than 93% since its 2021 peak. It is obvious that Shiba Inu (SHIB) is not what it once was, but let’s discuss how the coin can once again become a game changer.
How Can Shiba Inu Become A Game Changer Once Again?
The Shiba Inu (SHIB) team has made substantial progress to bring the project out of its “memecoin” persona. The team launched the Shibarium layer-2 network to bring more use cases to the project. As more applications are built on Shibarium, the underlying asset’s price is expected to rise.
The Shiba Inu (SHIB) team also unveiled ShibOS, a platform dedicated to helping businesses transition into Web3. ShibOS could be a massive success as more companies move towards Web3 infrastructure.
The Shiba Inu (SHIB) team is also reportedly working on a new burn mechanism. The new burn mechanism is rumored to burn trillions of coins yearly. The move could lead to a dip in supply, helping the price of each coin to go up.
Also Read: Shiba Inu (SHIB) Has Been Brutal To Investors
The above development could bring mass adoption to Shiba Inu (SHIB). Adoption is the only way for SHIB to regain its lost luster. Lead developer Shytoshi Kusama also highlighted that burns alone will not help SHIB’s price. The project needs more adoption for prices to rally. Given the innovative developments within the SHIB ecosystem, we could see a surge in mass adoption over the coming years.
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