TL;DR
- Shiba Inu’s potential return to the top 10 hinges on expanding its ecosystem, like the continued progress of its L2 scaling solution, Shibarium.
- However, it faces growing competition from other meme coins. Dogecoin (DOGE), which seems poised for a good year due to Musk’s involvement in politics, remains its biggest rival.
The Necessary Factors
In 2024, the well-known meme cryptocurrency showed promising performance, even making it into the top 10 largest digital currencies by market capitalization at one point. However, in recent months, several competitors have overtaken it. Currently, this self-proclaimed “Dogecoin killer” ranks as the 19th largest cryptocurrency, leading us to question whether it can regain its place among the top 10 in 2025. We posed this question to ChatGPT.
As a researcher studying cryptocurrencies, I’ve been exploring the potential of Shiba Inu (SHIB). An AI-powered chatbot I consulted suggested that for SHIB to ascend the crypto rankings this year, it is crucial that its ecosystem undergoes significant expansion.
An illustration is the ongoing advancement of Shibarium, a layer-2 scaling solution. The aim of this protocol is to encourage the growth of the meme coin. Notably, it recently achieved a significant milestone as reported by CryptoPotato – the total transactions processed on the network surpassed 800 million.
Upcoming on ChatGPT’s agenda is the anticipated expansion of the Shiba Inu (SHIB) community over the next 12 months. Comprised of countless investors, developers, and supporters, the actions taken collectively by this group – be they positive or negative – can significantly impact the token’s market trends.
Thirdly, the chatbot predicted that Shiba Inu’s potential surge this year might correlate with the broader cryptocurrency market trends. The present optimistic market scenario and the possible pro-crypto presidency of the United States (as suggested by Donald Trump during his campaign) could potentially favor the crypto industry in the coming months. However, only time will tell if these conditions will indeed be advantageous.
The Competition
As an analyst, I can’t help but acknowledge the potential challenges that SHIB might face from its competitors and new entrants vying for a leading position. For instance, Pepe (PEPE), Pudgy Penguins (PENGU), and ai16z (AI16Z) are notable examples of contenders that could potentially disrupt SHIB’s standing in the market.
Among meme coins, Shiba Inu’s dominance remains unmatched in terms of market capitalization, surpassing even Dogecoin (DOGE). Many experts believe that the original meme coin could have an exceptional year as well.
In essence, Elon Musk, a fervent supporter, is set to make his debut in U.S. politics. He will head an agency known as the Department of Government Efficiency (D.O.G.E.), whose primary objective is to streamline government spending and address the issue of excessive federal bureaucracy that’s become stiflingly burdensome.
Nevertheless, numerous Dogecoin supporters have pointed out that the symbol for divisions is identical to their preferred currency. They anticipate positive developments for the dog-themed cryptocurrency under Elon Musk’s guidance.
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2025-01-18 10:08