Shiba Inu Price Prediction as SHIB Remains 2nd Largest Meme Coin Behind DOGE – Time to Buy?

cryptonews.com:

Shiba Inu (SHIB) is set to end 2023 with gains of around 30%, gains which pale in comparison to those seen in many other major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP), which are up 150%, 92%, 940% and 82% respectively.

While Shiba Inu, last trading around $0.000010 per token, has seen weak gains versus other key sectors in the crypto market, its yearly gains are roughly in line with that of Dogecoin (DOGE), the largest meme coin in the world by market cap.

And with its market cap of over $6 billion, Shiba Inu has comfortably been able to maintain its spot as the second largest meme coin, with newer rivals Pepe Coin and more recently Bonk! unable to hold onto multi-billion-dollar market cap status for long.

So while 2023 has hardly been a good year the likes of Dogecoin and Shiba Inu, both remain the dominant meme coin market leaders.

Some pessimistic investors may view Shiba Inu and Dogecoin’s failure to keep pace with other major cryptos in 2023 as a sign of waning confidence and interest in these assets.

But others may view their still subdued performance as an opportunity to continue accumulating while prices remain at historically favorable levels.

Shiba Inu and Dogecoin both remain about 9x down versus their record highs.

However, Dogecoin continues to be championed by Elon Musk, one of the world’s richest men and the CEO of Tesla, owner of X and SpaceX.

Shiba Inu, meanwhile, has been aggressively working to expand its web3 ecosystem to bolster SHIB’s utility, launching its Shibarium layer-2 scaling protocol earlier this year.

Both meme coins maintain massive, engaged and committed communities.

For long-term believes in both projects, now is a great time to continue accumulating these