Shiba Inu may have found a new vibe that could trigger a potential rally, but one crypto analyst believes a $1 price projection for 2024 is far-fetched.
New Wave for Shiba Inu
Shiba Inu (SHIB) may have found a new vibe that could trigger a potential rally. However, one crypto analyst believes this projection is unrealistic.
Analyst's Skepticism
The analyst cites a publication, highlighting that none of the recent developments in the Shiba Inu ecosystem could generate the level of adoption necessary for such a rapid surge. Technology developments like Shibarium and the new decentralized autonomous organization (DAO) aren't significantly impacting Shiba Inu's adoption.
Impact of SHIB DAO
The analyst does not see SHIB DAO as a major driver of demand for the meme coin. He describes the project as a means to help users decide where to donate money. According to Shiba Inu’s marketing lead, Lucie, the DAO allows the community to participate in decision-making.
The analyst believes that current developments and initiatives within Shiba Inu are insufficient to generate the level of adoption and demand necessary to achieve the $1 goal by 2024.
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