Shiba Inu may have found a new vibe that could trigger a potential rally.
A Crypto analyst considers SHIB’s $1 by 2024 target unrealistic.
Crypto All-Stars could trigger a memecoin season soon.
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. Citing a publication, the analyst highlighted how none of the recent developments in the Shiba Inu ecosystem could generate the level of adoption to trigger such a surge so soon.
The analyst argues that tech developments like Shibarium and the new decentralized autonomous organization (DAO) aren’t directly impacting Shiba Inu’s adoption. He thinks crypto users don’t really care about the new DAO, and Shibarium hasn’t boosted demand for SHIB. So, he disagrees with the idea that SHIB has been the star of the recent meme coin rally.
Focusing on the SHIB DAO, the analyst did not see it as a major driver of demand for the meme coin. He described it as a project that helps users decide where to donate money. He quoted Shiba Inu’s marketing lead, Lucie, saying that Shiba Inu set up the SHIB DAO so that its commun…
The post Shiba Inu’s $1 Dream: Reality Check from Crypto Analyst appeared first on Coin Edition.
